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FULL YEAR AND FOURTH QUARTER 1992 RESULTS ANNOUNCED BY HANDY & HARMAN

 NEW YORK, Feb. 8 /PRNewswire/ -- Handy & Harman (NYSE: HNH) today announced fourth quarter results reflecting a 19 percent increase in net income compared to fourth quarter 1991.
 For the quarter ended Dec. 31, 1992, net income was $2,885,000, or 21 cents per share, compared to $2,422,000, or 17 cents per share, reported for the same period last year. Sales for the fourth quarter were $144,569,000, a 4 percent gain over last year's comparable restated sales of $139,613,000.
 Income from continuing operations for the full year of 1992 was $11,697,000, or 84 cents per share, compared to a loss of $8,653,000, or 62 cents per share, for the 1991 period. The 1991 results from continuing operations included charges for restructuring, nonrecurring and unusual charges equivalent to $13,739,000, or 98 cents per share. Twelve months sales rose 8 percent to $572,210,000 compared to a restated amount of $531,526,000 for the comparable period of 1991.
 Richard N. Daniel, chairman and chief executive officer, commented: "Despite the failure of a clear-cut recovery in the manufacturing sector of the economy, 1992 ended with our meeting operational objectives in each of our major business units. We anticipate that the effect of internal cost efficiencies within these units along with increased market penetrations, both domestically and internationally, will allow us to continue our earnings growth in 1993. Any reasonable help from a sustained recovery in the economy could permit an even more optimistic outlook."
 The annual meeting of Handy & Harman shareholders will take place at 11:00 a.m. on Tuesday, May 11, 1993, at Chemical Banking Corporation, 270 Park Ave. (Room 7 - 11th Floor), New York, N.Y.
 HANDY & HARMAN AND SUBSIDIARIES
 (In thousands, except per share amounts)
 Periods ended Quarter 12 Months
 Dec. 31 1992 1991 1992 1991(A)
 Net sales (B) $144,569 $139,613 $572,210 $531,526
 Income (loss) from cont.
 opers. before inc. taxes 4,205 4,172 19,067 (11,153)
 Income (loss) from cont.
 opers., net of inc. taxes 2,885 2,422 11,697 (8,653)
 Discontinued operations:
 Loss from opers., net of
 income taxes -- -- -- (1,465)
 Prov. for loss on disposal
 of discont. opers., net
 of income taxes -- -- -- (24,391)
 Total -- -- -- (25,856)
 Net income (loss) $ 2,885 $ 2,422 $ 11,697 $(34,509)
 Earnings (loss) per share:
 Continuing operations $0.21 $0.17 $0.84 $(0.62)
 Discontinued operations -- -- -- $(1.85)
 Net income (loss) $0.21 $0.17 $0.84 $(2.47)
 Average no. of shrs. outstg. 14,010 13,985 14,001 13,985
 (A) -- Twelve months 1991 figures include restructuring, nonrecurring and unusual charges of $20,339,000 ($13,739,000 after tax, or 98 cents per share) to continuing operations, and $33,991,000 ($24,391,000 after tax, or $1.75 per share) to discontinued operations.
 (B) -- The company has changed its method of accounting for sales of precious metals which are sold to customers separately from the fabricated product. The effect of this change was to increase both sales and cost of sales by $25,457,000 for the fourth quarter and $87,513,000 for the 12 months of 1992. For the 1991 periods the change was $22,212,000 for the fourth quarter and $69,074,000 for the 12-month period. The change has no effect on gross profit or net income, and more closely reflects the generally accepted industry practice.
 -0- 2/8/93
 /CONTACT: Dennis C. Kelly of Handy & Harman, 914-921-5200; or Robert W. Bloch International, 212-755-8047, for Handy & Harman/
 (HNH)


CO: Handy & Harman ST: New York IN: MNG SU: ERN

GK-SM -- NY040 -- 4025 02/08/93 10:59 EST
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Date:Feb 8, 1993
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