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FEDERAL SCREW WORKS REPORTS RESULTS

 FEDERAL SCREW WORKS REPORTS RESULTS
 DETROIT, Jan. 21 /PRNewswire/ -- Federal Screw Works


(NASDAQ-NMS: FSCR) reported net sales for the quarter and six months ended Dec. 31, 1991, of $15,607,000 and $31,563,000 compared to net sales of $14,149,000 and $29,240,000 for the quarter and six months ended Dec. 31, 1990.
 The company's net earnings for the quarter and six months ended Dec. 31, 1991, were $13,000 and $242,000, or $.02 a share and $.22 a share compared to net earnings of $42,000 and $852,000, or $.04 a share and $.75 a share for the same periods of the prior year. Net earnings for the prior year include the cumulative effect of changing the company's accounting for income taxes ($450,000, or $.40 a share) which represented an increase in earnings in accordance with the Statement of Financial Accounting Standards No. 96.
 Increased sales resulted from new automotive parts programs and improved refrigeration components business. Reduced earnings were the result of price concessions made to customers.
 -0- 1/21/92
 /CONTACT: W.T. ZurSchmiede Jr., CEO-CFO of Federal Screw Works, 313-963-2323/
 (FSCR) CO: Federal Screw Works ST: Michigan IN: MAC SU: ERN


SB -- DE007 -- 1758 01/21/92 11:11 EST
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Publication:PR Newswire
Date:Jan 21, 1992
Words:211
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