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HACH COMPANY ANNOUNCES FINANCIAL RESULTS

 LOVELAND, Colo., Nov. 19 /PRNewswire/ -- Hach Company (NASDAQ-NMS: HACH) today announced its unaudited financial results for the second quarter ended Oct. 30, 1993.
 For the second quarter ended Oct. 30, 1993, net sales were $24,773,000, an 8 percent increase over net sales of $22,900,000 for the second quarter of the


prior fiscal year. Net income was $2,095,000, or 3 percent higher than net income of $2,035,000 for the second quarter of fiscal year 1993 after giving effect to a one time pre-tax charge of approximately $500,000 for costs associated with the previously planned merger with Lawter International. On a per share basis net income was 23 cents for both periods. Had the pre-tax charge not been incurred, net income for the quarter ended Oct. 30, 1993, would have been $2,417,000, or 19 percent higher than the comparable prior period.
 Net sales for the six months ended Oct. 30, 1993, were $49,620,000, or 6 percent more than net sales of $46,901,000 for the same period of the prior fiscal year. Net income of $4,888,000, or 54 cents per share, was 11 percent higher than net income of $4,420,000, or 49 cents per share, for the same period of the prior fiscal year. Net income for the six-month period of 1994 includes, in addition to the one time $500,000 pre-tax charge, an adjustment for the cumulative effect of a change in accounting principle of $448,000, or 5 cents per share, related to the adoption of Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes. Net income for the six month period ended Oct. 30, 1993, before the cumulative effect of the accounting change was $4,440,000, or 49 cents per share. Had the $500,000 pre-tax charge net been incurred, net income before the cumulative effect of the accounting change would have been $4,762,000 for the six month period ended Oct. 30, 1993, or 8 percent higher than the comparable earlier period.
 On Nov. 15, 1993, Lawter and Hach jointly announced that their respective boards of directors had determined that it was in the best interests of both companies to terminate the agreement to combine the companies.
 HACH COMPANY
 Earnings Digest
 Quarter Ended
 Oct. 30, 1993 Oct. 31, 1992
 Net sales $24,773,000 $22,900,000
 Net income $ 2,095,000 $ 2,035,000
 Weighted average shares 9,105,795 9,085,510
 Net income per share $ .23 $ .23
 Six Months Ended
 Oct. 30, 1993 Oct. 31, 1992
 Net sales $49,620,000 $46,901,000
 Net income before accounting change 4,440,000 4,420,000
 Accounting change 448,000 --
 Net income 4,888,000 4,420,000
 Weighted average shares 9,102,425 9,084,789
 NET INCOME PER SHARE:
 Before accounting change .49 .49
 Accounting change .05 --
 Net income .54 .49
 -0- 11/19/93
 /CONTACT: Gary R. Dreher, vice president and treasurer of Hach Company, 303-669-3050, ext. 2241/
 (HACH)


CO: Hach Company ST: Colorado IN: ENV CHM SU: ERN

TW -- NY029 -- 6485 11/19/93 11:16 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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