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FURON ANNOUNCES THIRD QUARTER RESULTS

 FURON ANNOUNCES THIRD QUARTER RESULTS
 LAGUNA NIGUEL, Calif., Dec. 2 /PRNewswire/ -- Furon Co.


(NASDAQ: FCBN) today reported lower operating results for the third fiscal quarter, compared with last year, although sales and net income both rose over the preceding second quarter.
 Net income for the three months ended Nov. 2, 1991, was $1,201,000, equal to $.14 per share fully diluted, compared with $2,256,000 or $.26 per share fully diluted for the corresponding prior year period. Revenues decreased 2 percent to $77,380,000, from $79,068,000 in 1990. Net income for the third quarter of 1990 includes an extraordinary gain of $398,000 for the settlement of certain terminated pension plans.
 For the nine-month period, net income was $2,974,000, equal to $.35 per share fully diluted, compared with $7,764,000, or $.95 per share fully diluted, for the prior year period. Revenues were $233,226,000, a decrease of 7 percent from $251,479,000 last year.
 "It is most encouraging that revenues and earnings improved over the immediately preceding period," said J. Michael Hagan, chairman and chief executive officer. "In addition, we experienced an increase in our annualized order rates during the third quarter, which is the first positive sign we have seen in a long time."
 "Our ongoing efforts to initiate world class performance techniques at Furon are showing positive results," continued Hagan. "Inventories were reduced during the quarter, which contributed to a positive free cash flow of $2.9 million, and Furon is in an outstanding position to take advantage of an upturn in the business cycle."
 Furon Co., headquartered in Laguna Niguel, is a manufacturer of components from specialized polymer materials for the industrial market. The company serves a wide range of industries including petrochemical, aerospace, medical, transportation, pollution control and fluid power.
 FURON COMPANY FINANCIAL HIGHLIGHTS
 Sales/Earnings for Fiscal 1992
 (Unaudited)
 (In thousands except per share data)
 Nine months ended Three months ended
 Nov. 2, Nov. 3, Nov. 2, Nov. 3,
 1991 1990 1991 1990
 Net sales $233,226 $251,479 $77,380 $79,068
 Cost of sales 170,007 177,106 56,046 56,470
 Gross profit 63,219 74,373 20,974 22,598
 Selling, general and
 administrative expenses 55,258 56,468 18,045 18,086
 Other (income), net (1,559) (2,054) (478) (776)
 Interest expense 4,480 7,474 1,373 2,138
 Income before taxes and
 extraordinary gain 5,040 12,485 2,034 3,150
 Taxes based on income 2,066 5,119 833 1,292
 Net income before
 extraordinary gain 2,974 7,366 1,201 1,858
 Extraordinary gain, net
 of tax --- 398 --- 398
 Net income $2,974 $7,764 $1,201 $2,256
 Per share data:
 Net income per share:
 Primary before
 extraordinary gain $0.35 $0.98 $0.14 $0.22
 Primary extraordinary
 gain --- 0.05 --- 0.04
 Net income primary $0.35 $1.03 $0.14 $0.26
 Fully diluted before
 extraordinary gain $0.35 $0.91 $0.14 $0.22
 Fully diluted
 extraordinary gain --- 0.04 --- 0.04
 Net income fully
 diluted $0.35 $0.95 $0.14 $0.28
 Cash dividends per
 share $0.18 $0.18 $0.06 $0.06
 Weighted average number
 of shares
 Primary 8,599 7,572 8,589 8,580
 New orders $224,571 $245,547 $75,869 $83,910
 Current assets $92,001 $103,339
 Current liabilities 43,306 38,938
 Ratio of current assets
 to current liabilities 2.1 to 1 2.7 to 1
 Total assets 200,648 231,811
 Long-term debt 45,844 82,644
 Stockholders' equity 96,406 96,790
 -0- 12/2/91
 /CONTACT: Michael Hagan or Ron Bissell, 714-831-5350, both of Furon Co.; or Roger Pondel or Kim Feazle of Rifkind Pondel & Parsons, 310-207-9300, for Furon Co./
 (FCBN) CO: Furon Co. ST: California IN: SU: ERN


AL-EH -- LA002 -- 8213 12/02/91 09:04 EST
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Date:Dec 2, 1991
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