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HARMON REPORTS PROFIT FOR FIRST QUARTER 1992

 HARMON REPORTS PROFIT FOR FIRST QUARTER 1992
 BLUE SPRINGS, Mo., April 22 /PRNewswire/ -- Harmon Industries Inc.


(NASDAQ/NMS: HRMN) of Blue Springs, Mo., the nation's leading supplier of railroad signalling and communications equipment, reported positive earnings for the first quarter ended March 31, 1992.
 Sales for the three months ended March 31, 1992, were $16.6 million compared to $15.6 million for the first quarter of 1991. Earnings from continuing operations before income taxes for 1992 were $460,000 compared to $214,000 in 1991. Net earnings for the period were $627,000 or 12 cents per share in 1992 versus $214,000 or 4 cents per share in 1991.
 The company's shipments for the quarter were affected by lower product sales during the later part of 1991 and early 1992. However, strong bookings in March produced a record order backlog level. Overall performance during the quarter was aided by excellent revenues and strong margins from Harmon's control systems projects.
 "Much of our emphasis in 1991 was on streamlining operations and developing new products for the market. We have nearly completed that process, and as economic conditions improve we remain optimistic that Harmon will continue to show improvements in the second half of 1992," said Bjorn E. Olsson, president and chief operating officer.
 Harmon Industries is traded in the over-the-counter market and is quoted on the NASDAQ National Market System under the symbol HRMN. For further information, contact Charles M. Foudree, executive vice president - finance, Harmon Industries Inc., 1300 Jefferson Court, Blue Springs, MO 64015. The telephone number is 816-229-3345.
 HARMON INDUSTRIES INC.
 Consolidated Statements of Operations
 For Periods Ended March 31, 1992 and 1991
 In thousands of dollars
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 Net sales $16,640 $15,648
 Cost of sales 12,355 11,265
 Gross profit 4,285 4,383
 Selling, general and
 administrative
 expenses 3,445 3,248
 Amortization of cost
 in excess of fair value
 of net assets of
 subsidiary acquired 33 32
 Miscellaneous income (expense)- net 78 (243)
 Operating income 885 860
 Interest expense 425 646
 Earnings from
 continuing operations
 before income taxes 460 214
 Income tax expense
 (benefit):
 Current 334 183
 Deferred (95) (72)
 239 111
 Earnings from
 continuing operations 221 103
 Discontinued operations
 (net of tax):
 Income (loss) on disposal 165 ---
 Earnings (loss) before
 extraordinary item 386 103
 Extraordinary item:
 Tax benefits from
 utilization of net
 operating loss
 carryforward(a) 241 111
 Net earnings (loss) $627 $214
 Earnings (loss) per
 common share:
 Continuing operations $.04 $.02
 Discontinued operations .03 ---
 Extraordinary item .05 .02
 Total earnings
 (loss) per common
 share: $.12 $.04
 Weighted average
 outstanding shares 5,176,132 4,990,155
 (a) As of Dec. 31, 1991, for financial reporting purposes, the company had available approximately $800,000 of operating loss carryforward. The income for the three months ended March 31, 1992, used $710,000 of the carryforward.
 -0- 4/22/92
 /CONTACT: Charles M. Foudree of Harmon Industries, 816-229-3345/
 (HRMN) CO: Harmon Industries Inc. ST: Missouri IN: SU: ERN


MC -- DV020 -- 1432 04/22/92 16:06 EDT
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Date:Apr 22, 1992
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