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HANNA REPORTS 75 PERCENT EARNINGS INCREASE ON 25 PERCENT SALES GAIN

 CLEVELAND, April 19 /PRNewswire/ -- M.A. Hanna Company (NYSE/MSE: MAH), a specialty chemicals company, reported record sales and a 75-percent increase in earnings from continuing operations for the first quarter of 1993. Income from continuing operations in the quarter ended March 31, 1993, was $4.4 million, or $.21 per share, fully diluted, compared with income from continuing operations of $2.4 million, or $.12 per share, fully diluted, in the corresponding period of 1992.
 Net sales and operating revenues in the first quarter increased 25 percent to $370.4 million from $296.9 million in 1992. Volumes were approximately 11 percent higher than a year ago. The acquisition of Wilson Color in June 1992 and Plastic Distributing Corporation in September 1992 contributed 14 percent sales growth.
 Hanna's formulated polymers segment reported sales of $366.8 million in the first quarter of 1993 compared with $292.1 million in the corresponding period of 1992. Operating income from the polymers segment in the first quarter grew 41 percent to $22.6 million from $16.0 million in 1992.
 "Hanna's overall performance in the first quarter was strong and ahead of our business plan," said Martin D. Walker, Hanna chairman and chief executive officer. "While the domestic market continues to improve, we are experiencing soft demand in Europe due to the severe recession there."
 Net income in the first quarter of 1993 was $5.8 million, or $.28 per share, fully diluted. Hanna realized a net gain of $1.5 million from the payment of a bankruptcy claim owed to a former natural resources affiliate. Earnings for 1992 and 1993 include the effect of the adoption of FAS 106 and 109.
 M.A. Hanna Company is a leading international specialty chemicals company. Primary businesses of M. A. Hanna are plastics and rubber compounding, color and additive concentrates, and distribution of plastic resins and engineered shapes.
 M. A. HANNA COMPANY AND CONSOLIDATED SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF INCOME
 (Unaudited)
 First Quarter
 1993 1992
 (Dollars in thousands except per share data)
 Net Sales and Operating Revenues $370,366 $296,890
 Costs and Expenses
 Cost of goods sold and operating expenses 291,215 233,524
 Selling, general and administrative 48,597 39,387
 Depreciation, depletion and amortization 12,791 11,252
 Other income (1,080) (1,423)
 Interest on debt 8,515 7,530
 Other expenses 2,258 2,007
 362,296 292,277
 Income from continuing operations
 before income taxes and
 cumulative effect of changes
 in accounting principles 8,070 4,613
 Income Taxes 3,712 2,237
 Income from continuing operations 4,358 2,376
 Income from Discontinued Operations 1,482 ---
 Income before cumulative effect
 of changes in accounting principles 5,840 2,376
 Cumulative Effect of Changes in Accounting
 Principles --- (11,465)
 Net income(loss) $ 5,840 $ (9,089)
 Income per share of common stock
 Primary
 Continuing operations $ .22 $ .12
 Discontinued operations .07 ---
 Cumulative effect of changes in
 accounting principles --- (.60)
 Net income(loss) $ .29 $ (.48)
 Fully diluted
 Continuing operations $ .21 $ .12
 Discontinued operations .07 ---
 Cumulative effect of changes in
 accounting principles --- (.60)
 Net income(loss) $ .28 $ (.48)
 Average number of common shares
 Primary 20,272,151 18,889,103
 Fully diluted 20,501,030 19,514,375
 M. A. HANNA COMPANY AND CONSOLIDATED SUBSIDIARIES
 CONSOLIDATED BALANCE SHEETS
 (Unaudited)
 March December
 31, 1993 31, 1992
 (Dollars in thousands)
 Assets
 Current Assets
 Cash and cash equivalents $ 39,719 $ 54,277
 Short-term securities 9,934 25,702
 Receivables 224,665 201,695
 Inventories 127,903 126,230
 Other 28,328 31,518
 Total current assets 430,549 439,422
 Net Property, Plant and Equipment 218,513 224,773
 Other Assets
 Goodwill and other intangibles 398,209 400,389
 Investments and other 113,337 113,540
 Total other assets 511,546 513,929
 $1,160,608 $1,178,124
 Liabilities and Stockholders' Equity
 Current Liabilities
 Notes payable $ 2,497 $ 2,312
 Trade payables and accrued expenses 225,516 248,902
 Current portion of long-term debt 9,258 796
 Total current liabilities 237,271 252,010
 Other Liabilities 176,617 177,365
 Long-term Debt 341,492 350,806
 Stockholders' Equity 405,228 397,943
 $1,160,608 $1,178,124
 Long-term Debt/Total Capital 45.7 percent 46.9 percent
 -0- 4/19/93
 /CONTACT: Barb Gould (investor), 216-589-4085, or Andy Opila (media), 216-589-4018, both of M.A. Hanna Company/
 (MAH)


CO: M.A. Hanna Company ST: Ohio IN: CHM SU: ERN

SM -- CL018 -- 7446 04/19/93 13:12 EDT
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Date:Apr 19, 1993
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