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FEDDERS OUTPACES INDUSTRY DESPITE RETAILERS' CAUTIOUS ORDERS

 FEDDERS OUTPACES INDUSTRY DESPITE RETAILERS' CAUTIOUS ORDERS
 PEAPACK, N.J., March 18 /PRNewswire/ -- Fedders Corporation


(NYSE: FJQ), the room air conditioner manufacturer, today announced results for the second quarter of fiscal 1992 ended Feb. 29, 1992. (Fedders changed to an Aug. 31 fiscal year during 1991.)
 In the three months ended Feb. 29, 1992, sales totaled $49.8 million versus $39.2 million a year earlier. The net loss in the quarter narrowed to $3.2 million, or 17 cents per share, compared with a loss of $20.8 million, or $1.12 per share, one year earlier.
 For the six months ended Feb. 29, 1992, sales totaled $63.7 million versus $48.8 million a year ago. The net loss in the first half of 1992 was $9.5 million, or 52 cents per share, compared with $30.8 million, or $1.66 per share, one year earlier.
 The company previously forecasted a loss for the first half of fiscal 1992, because shipments of room air conditioners are low in the months of September through February. During seasonally slow sales periods, Fedders' low volume does not offset fixed costs for overhead expense and non-cash charges for depreciation and amortization.
 Chief Executive Officer Sal Giordano Jr. noted that customers are being "exceptionally cautious" in restocking for the 1992 season. "Retailers have ordered more conservatively than was previously expected, especially those whose business is constrained by credit considerations," he said. Industrywide, estimated unit shipments are down 5 percent and 4 percent, respectively, from weather-depressed, year-earlier levels in both the three-month and six-month periods ended Feb. 29. In the same periods, Fedders' sales increased 27 percent and 30 percent, respectively.
 Unlike most competitors, according to Giordano, Fedders is "geared up to respond in-season to late orders, based on our flexible production capacity and because we are not dependent on overseas suppliers for compressors. With our quick-response manufacturing, we can take orders later, build units faster and deliver quicker during late spring and summer."
 Outlook: While Fedders outpaced the industry during the first six months of fiscal 1992, Giordano said customers' "conservative orders now on hand indicate we won't reach the $270 million annual sales objective announced last October. We continue to expect a profitable fiscal year and better sales than last year in both the third and fourth quarters."
 FEDDERS CORPORATION
 Results of Fiscal 1992 Second Quarter and Six Months
 (Amounts in thousands, except per share data)
 Quarter ended Feb. 29 1992 1991(A)
 Net sales $49,784 $ 39,180
 Net loss $(3,199) $(20,830)
 Loss per share $(0.17) $(1.12)
 Weighted average shares 18,484 18,515
 Six months ended Feb. 29 1992 1991(A)
 Net sales $63,671 $ 48,793
 Net loss $(9,523) $(30,813)
 Loss per share $(0.52) $(1.66)
 Weighted average shares 18,486 18,515
 (A) -- Fedders changed to a fiscal year ending Aug. 31 in 1991. Prior-year data on the new fiscal-year basis is presented for comparative purposes only and was not previously reported.
 -0- 3/18/92
 /CONTACT: Barbara VanBlarcum of Fedders, 908-234-2100/
 (FJQ) CO: Fedders Corporation ST: New Jersey IN: HOU SU: ERN


GK -- NY043 -- 9213 03/18/92 11:48 EST
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Date:Mar 18, 1992
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