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HAKO MINUTEMAN ACHIEVES BEST SALES QUARTER IN HISTORY; 1ST-QUARTER OPERATING PROFITS UP 21 PERCENT; DIVIDEND DECLARED

 ADDISON, Ill., April 16 /PRNewswire/ -- Hako Minuteman, Inc. (NASDAQ-NMS: HAKO) said today that sales for the first quarter ended March 31, 1993 were the best in the company's history.
 Sales for the 1993 first quarter rose 22 percent to $9,752,000 from $8,001,000 a year earlier. Income from operations for the 1993 three- month period increased 21 percent to $1,042,000 from $858,000 in the 1992 first quarter.
 "The increase in operating profits is especially encouraging," President and Chief Executive Officer Jerome E. Rau said, "because the full effects of the price increase implemented late in the 1993 first quarter have not yet been realized."
 Net income for the first quarter of 1993 was up 15 percent to $661,000, or 19 cents per share, from $574,000, or 16 cents per share, a year ago. Year-to-year net income comparisons were affected by lower interest rates in 1993, as well as lower investable funds resulting from the acquisition of Parker Sweeper in May 1992.
 According to Rau, record sales were due to new product introductions in late 1992, sales of Parker Sweeper products and improved distribution in the United States and overseas. Higher operating costs related to Parker Sweeper and increased advertising and sales promotion expenses were offset by increased sales volume.
 "The fact that our domestic dealer business continues to improve over 1992 points to an improving U.S. economy," Rau said. "Continued economic improvement, coupled with strengthened distribution and additional new product introductions should enable us to show improved results for the remainder of 1993."
 DIVIDEND DECLARED
 The board of directors of Hako Minuteman, Inc. has declared a quarterly dividend of 7 cents per share on the company's common stock, payable May 14, 1993, to shareholders of record on April 30, 1993.
 Headquartered in Addison, Hako Minuteman, Inc. is a full line manufacturer of commercial and industrial vacuums, floor and carpet care equipment and chemical cleaning and coating products which the company markets worldwide. It also manufactures and markets litter pick-up machines and lawn sweeping equipment.
 The company's shares are traded on the NASDAQ National Market System under the symbol HAKO.
 HAKO MINUTEMAN, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF INCOME
 (In thousands, except per-share data; unaudited)
 Three Months Ended March 31,
 1993 1992 Pct. Change
 Net sales $9,752 $8,001 21.9
 Cost of sales 6,482 5,262 23.2
 Gross profit $3,270 $2,739 19.4
 Selling expenses 1,766 1,514 16.6
 General and administrative
 expenses 462 367 25.9
 Income from operations $1,042 $858 21.4
 Other income 33 68 (51.5)
 Income before income taxes $1,075 $926 16.1
 Income tax expense 414 352 17.6
 Net income $661 $574 15.2
 Net income per share $0.19 $0.16 ---
 Average No. of common
 shares outstanding 3,568 3,568
 -0- 4/16/93
 /CONTACT: Jerome E. Rau, President and CEO, Hako Minuteman, Inc., 708-627-6900/
 (HAKO)


CO: Hako Minuteman, Inc. ST: Illinois IN: SU: ERN

DH-ML -- DE004 -- 6636 04/16/93 09:46 EDT
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Date:Apr 16, 1993
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