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FEDERAL SCREW WORKS REPORTS EARNINGS

 FEDERAL SCREW WORKS REPORTS EARNINGS
 DETROIT, Aug. 14 /PRNewswire/ -- Federal Screw Works


(NASDAQ-NMS: FSCR) reported net earnings for the year ended June 30, 1992, of $2,020,000, or $1.83 per share, on sales of $67,618,000. For the year ended June 30, 1991, the company reported net earnings of $223,000 (including the favorable cumulative effect of changing the company's accounting for income taxes pursuant to FASB Standard No. 96), or $.20 per share, on sales of $57,147,000.
 Net earnings for the very strong fourth quarter ended June 30, 1992, were $1,308,000, or $1.19 per share, on sales of $18,710,000. In the fourth quarter ended June 30, 1991, the company reported net earnings of $341,000, or $.30 per share, on sales of $16,007,000.
 The company's business has always been highly competitive and recent customer pressure to reduce prices on existing business has been and continues to be severe. This pressure will adversely affect the company's fiscal 1993 results. It is not possible presently to quantify the net negative impact since the company has been successful in securing substantial new business. The new business, in combination with manufacturing and quality improvements, allow it to approach the future with confidence.
 The board of directors has declared a regular quarterly cash dividend of $.10 per share, and an extra cash dividend of $.20 per share, both payable Oct. 1, 1992, to shareholders of record Sept. 11, 1992.
 -0- 8/14/92
 /CONTACT: W.T. ZurSchmiede Jr., CEO and CFO of Federal Screw Works, 313-963-2323/
 (FSCR) CO: Federal Screw Works ST: Michigan IN: MAC SU: ERN DIV


SM -- DE012 -- 0021 08/14/92 12:46 EDT
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Publication:PR Newswire
Date:Aug 14, 1992
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