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FRANKLIN ELECTRIC REPORTS SEVENTH CONSECUTIVE YEAR OF RECORD EARNINGS AND INCREASED SALES

 BLUFFTON, Ind., Feb. 3 /PRNewswire/ -- Franklin Electric Co. Inc. (NASDAQ: FELE) today reported that 1992 was its seventh consecutive year of record earnings and that sales for the year also set an all-time record.
 Income for 1992 was $13.8 million, an increase of 5 percent compared to 1991 earnings of $13.1 million. Earnings per share were $1.88, an 18 percent increase compared to $1.59 for 1991. Sales for 1992 increased 8 percent to $198.6 million from $184.1 million in 1991.
 Earnings for the fourth quarter of 1992 were $2.9 million compared to 1991 fourth quarter earnings of $2.8 million. Fourth quarter earnings per share were $0.42 compared to $0.33 for the same period a year ago. Sales for the fourth quarter of 1992 were $49.0 million compared to $42.9 million in 1991.
 William H. Lawson, chairman and chief executive officer, said, "1992 was a good year for Franklin Electric. We met or exceeded all of the principal elements of our 1992 business plan. Given 1992's difficult economic environment, we regard this performance as tangible evidence that Franklin Electric is able to compete successfully in the global arena. Throughout the year, our people battled day after day to increase sales, improve productivity, control expenses and, most importantly, continue our ongoing, relentless commitment to quality. We are most appreciative of their dedication and commitment to our company.
 "We enter 1993 with cautious optimism. There are tentative signs that the precarious North American economy is strengthening. At the same time, we start the year with southern Europe and Germany in recession. Notwithstanding this mixed outlook which exists in the world economy, we believe Franklin Electric is well-positioned for 1993 and the years beyond."
 Franklin Electric is a leading manufacturer of electric motors, including submersible motors, fractional horsepower motors, and gearmotors for home, farm, municipal and industrial use.
 FRANKLIN ELECTRIC CO., INC.
 Summary
 (Amounts in thousands, except per-share amounts)
 Fourth quarter ended Jan. 2, Dec. 28, Percent
 1993 1991 Change
 Net sales $49,029 $42,902 14.3
 Income before income taxes,
 earnings in affiliates and
 extraordinary credit 4,597 3,561
 Income tax 1,862 1,541
 Income before earnings in
 affiliates & extraord. credit 2,735 2,020
 Equity in earnings of
 affiliates, net of tax 99 773
 Extraordinary credit-benefit
 of loss carryforward 36 23
 Net income 2,870 2,816 1.9
 Dividends on preferred stock 153 687
 Net income available to
 common share equivalents 2,717 2,129
 Net income available to common
 shares before extraord. credit $.41 $.32
 Net income per weighted average
 common share .42 .33
 Fiscal year ended Jan. 2, Dec. 28, Percent
 1993 1991 Change
 Net sales $198,618 $184,062 7.9
 Income before income taxes,
 earnings in affiliates and
 extraordinary credit 22,202 18,318
 Income tax 9,038 7,408
 Income before earnings in
 affiliates & extraord.credit 13,164 10,910
 Equity in earnings of
 affiliates, net of tax 491 2,055
 Extraordinary credit-benefit
 of loss carryforward 156 135
 Net income 13,811 13,100 5.4
 Dividends on preferred stock 1,593 2,912
 Net income available to
 common share equivalents 12,218 10,188
 Net income available to common
 shares before extraord. credit $1.85 $1.57
 Net income per weighted average
 common share 1.88 1.59
 -0- 2/3/93
 /CONTACT: D.W. Pfister of Franklin Electric, 219-824-2900/
 (FELE)


CO: Franklin Electric Co. ST: Indiana IN: UTI SU: ERN

CK -- NY029 -- 2318 02/03/93 10:52 EST
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Date:Feb 3, 1993
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