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FLS HOLDINGS INC. ANNOUNCES RESULTS

 TAMPA, Fla., Nov. 11 /PRNewswire/ -- FLS Holdings Inc. (NASDAQ-NMS: FLSHP), parent company of Florida Steel Corporation, reported consolidated net sales for the six month period ended Sept. 30, 1993, of $280.8 million as compared with $248.9 million for the six- month period ended Sept. 30, 1992. Total tons shipped were 874,816, a 9.4 percent increase vs. 799,518 for the September 1992, six-month period. The net loss for the 1993 six-month period was $4.4 million as compared with a net loss of $16.8 million for the 1992 six-month period.
 Net sales for the quarter ended Sept. 30, 1993, were $148.3 million vs. $125.3 million for the quarter ended Sept. 30, 1992. The net loss for the 1993 quarter was $2.4 million as compared with a net loss of $7.7 million for the 1992 quarter.
 Income from operations for the six month period ended Sept. 30, 1993, was $6.1 million vs. an operating loss of $5.4 million for the six- month period ended Sept. 30, 1992. Income from operations for the quarter ended Sept. 30, 1993, was $2.8 million as compared with an operating loss of $278,000 for the quarter ended Sept. 30, 1992. The six-month and three-month periods ended Sept. 30, 1992, included non- recurring costs, as previously reported, in the amount of $17.8 million and $2.4 million respectively.
 FLS HOLDINGS INC.
 Six Months Ended Three Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Net Sales $280,818,375 $248,877,096 $148,298,532 $125,274,805
 Income (loss)
 from
 operations 6,115,612 (5,374,904) 2,796,570 (277,524)
 Interest and
 amortization
 of deferred
 financing
 costs 12,028,837 18,368,706 6,033,796 9,209,931
 Net income
 ? (4,449,225) (16,802,610) (2,399,226) (7,669,455)
 Depreciation $7,626,094 $7,835,008 $3,846,166 $3,909,024
 EBITDA (A) $15,772,616 $3,794,918 $7,658,191 $4,298,907
 Total tons
 shipped 874,816 799,518 454,714 399,692
 (A) -- Earnings before interest, taxes, depreciation and amortization.
 Florida Steel Corporation is a Tampa-based steel maker consisting of five electric mills, 15 reinforcing steel fabricating plants, two reinforcing steel epoxy coating facilities, a post-tension facility, a railroad spike operation, a transportation division and a welded wire fabric and nail producing division.
 -0- 11/11/93
 /CONTACT: Marvin F. Hill, chief financial officer, Florida Steel Corporation, 813-251-8811/
 (FLSHP)


CO: FLS Holdings Inc.; Florida Steel Corporation ST: Florida IN: MNG SU: ERN

RK-AW -- FL005 -- 3145 11/11/93 10:22 EST
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Date:Nov 11, 1993
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