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FIRST QUARTER EARNINGS REPORTED BY WILLIAMS CONTROLS

 PORTLAND, Ore., Jan. 22 /PRNewswire/ -- Williams Controls Inc. (NASDAQ: WMCO) announced today through its Chairman and Chief Executive Officer, Thomas W. Itin, that net earnings for the quarter ended Dec. 31, 1992, were $331,000 or 2 cents per share. For the like period in the prior year, net earnings were $55,000 before the cumulative effect of a change in accounting for income taxes of approximately $255,000 (2 cents per share) as a result of adopting FASB No. 109 as of Oct. 1, 1991. The change in accounting resulted in restated net earnings of $310,000 or 2 cents per share for the quarter. The increase in earnings for the current quarter is due primarily to increased sales and a reduction in administrative expenses as a result of eliminating legal and accounting fees incurred in pursuing a litigation claim which was settled in September 1992.
 Sales for the quarter ended Dec. 31, 1992 were $5,797,000 compared to $4,530,000 for the like period in the prior year, an increase of 28 percent. The increase in sales is due primarily to the continued demand for the company's electronic throttle pedal lines, which account for approximately 46 percent of sales for the current quarter as compared to 42 percent for the like period in the prior year.
 Joseph W. Hovorka, president, stated, "The demand for our products remains strong and is reflected in the company's future sales orders which were approximately $3,600,000 at December 31, 1992 compared to $2,800,000 at December 31, 1991."
 Williams Controls manufactures a wide range of electronic throttles, pneumatic and hydraulic controls and exhaust brakes which are used in the heavy vehicle manufacturing industry worldwide.
 WILLIAMS CONTROLS INC.
 Selected Financial Data
 First Quarter Ended Dec. 31
 1992 1991(a)
 Net sales $5,797,000 $4,530,000
 Earnings before cumulative
 effect of accounting change 331,000 55,000
 Cumulative effect of
 accounting change --- 255,000
 Net earnings $331,000 $310,000
 Earnings per common share:
 Earnings before cumulative
 effect of accounting change $.02 ---
 Cumulative effect of
 accounting change --- .02
 Net earnings $.02 $.02
 (a) The quarter ended Dec. 31, 1991, includes the change in accounting for income taxes as a result of adopting FASB No. 109 effective Oct. 1, 1991.
 -0- 1/22/93
 /CONTACT: Thomas W. Itin or Joseph W. Hovorka of Williams Controls, 503-684-8600/
 (WMCO)


CO: Williams Controls Inc. ST: Oregon IN: SU: ERN

BB -- DV002 -- 7752 01/22/93 08:30 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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