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GOULDS PUMPS ANNOUNCES REDEMPTION OF CONVERTIBLE SUBORDINATED DEBENTURES

GOULDS PUMPS ANNOUNCES REDEMPTION OF CONVERTIBLE SUBORDINATED DEBENTURES
 SENECA FALLS, N.Y., Nov. 25 /PRNewswire/ -- Goulds Pumps, Inc. (NASDAQ: GULD), announced today that its 9-7/8 percent convertible subordinated debentures due 2006 will be redeemed on Dec. 31, 1991. The redemption price will be 103.292 percent of the principal amount of each debenture.
 The redemption premium of $823,000 will be recognized as an extraordinary charge in the fourth quarter of 1991. The after-tax effect on earnings per share is estimated to be between 2 and 3 cents per share.
 The company will finance the redemption with newly issued debt and expects to achieve reduced interest costs in future years.
 -0- 11/25/91
 /CONTACT: John Morphy, vice president and chief financial officer, or Linda Polcaro, treasurer of Goulds Pumps, 315-568-2811/
 (GULD) CO: Goulds Pumps, Inc. ST: New York IN: SU:


GK-FC -- NY006 -- 6670 11/25/91 08:21 EST
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Publication:PR Newswire
Date:Nov 25, 1991
Words:151
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