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HARMON REPORTS PROFITABLE RESULTS FOR SECOND QUARTER

 HARMON REPORTS PROFITABLE RESULTS FOR SECOND QUARTER
 BLUE SPRINGS, Mo., July 23 /PRNewswire/ -- Harmon Industries Inc.


(NASDAQ/NMS: HRMN) of Blue Springs, a major supplier of communication and control products to railroads throughout North America and the world, reported a continuation of profitable results for the second quarter ended June 30, 1992.
 According to Bjorn E. Olsson, president and chief operating officer, Harmon's profitability continues as a result of a record backlog of product orders, improving strength in the railroad industry and a continued commitment by the railroads to improve efficiency and safety -- which is the focus of Harmon's product base.
 The results for the second quarter of 1992 were lower than last year due to lower sales and a somewhat better product mix in 1991. However, according to Olsson, the company continues to build record backlog levels and expects this to support increasing sales trends in the third quarter.
 "We are pleased with the results of the three months ending June 30, 1992," Olsson said. "We anticipate these recently improved trends to continue and expect a strong third quarter and good year overall for 1992."
 For the three months ended June 30, sales were almost $18.4 million in 1992 compared to $19.6 million for the like period in 1991. Earnings from continuing operations before taxes were $1.9 million in 1992 compared to $2.8 million in 1991. Net earnings for the period were almost $1.3 million or 25 cents per share in 1992 compared to almost $2.1 million or 42 cents per share in 1991.
 For the six months ended June 30, sales were $35.0 million in 1992 compared to almost $35.3 million for the like period in 1991. Earnings from continuing operations before taxes were nearly $2.4 million in 1992 compared to $3 million in 1991. Net earnings were $1.9 million or 36 cents per share in 1992 compared to almost $2.3 million or 46 cents per share in 1991.
 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 June 30, 1992 and 1991
 In thousands of dollars
 (Unaudited)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Net sales $18,391 $19,649 $35,031 $35,297
 Cost of sales 12,492 12,791 24,847 24,056
 Gross profit 5,899 6,858 10,184 11,241
 Selling, general and
 administrative
 expenses 3,553 3,453 6,998 6,701
 Amortization of cost
 in excess of fair value
 of net assets of
 subsidiary acquired 34 35 67 67
 Miscellaneous income
 (expense)-net (4) 31 74 (212)
 Operating income 2,308 3,401 3,193 4,261
 Interest expense 390 584 815 1,230
 Earnings from
 continuing operations
 before income taxes 1,918 2,817 2,378 3,031
 Income tax expense
 (benefit):
 Current 780 1,129 1,114 1,312
 Deferred (107) (72) (202) (144)
 $673 $1,057 $912 $1,168
 Earnings from
 continuing operations 1,245 1,760 1,466 1,863
 Earnings (loss) on
 disposal of discontinued
 operations (net of tax) --- (274) 165 (274)
 Earnings before
 extraordinary item 1,245 1,486 1,631 1,589
 Extraordinary item:
 Tax benefits from
 utilization of net
 operating loss
 carryforward 32 599 273 710
 Net earnings $1,277 $2,085 $1,904 $2,299
 Earnings (loss) per
 common share:
 Continuing operations $0.24 $0.35 $0.28 $0.37
 Discontinued operations --- (0.05) 0.03 (0.05)
 Extraordinary item 0.01 0.12 0.05 0.14
 Total earnings per
 common share $0.25 $0.42 $0.36 $0.46
 Weighted average
 outstanding shares 5,265,042 4,992,317 5,230,366 4,991,242
 -0- 7/23/92
 /CONTACT: Charles M. Foudree of Harmon Industries, 816-229-3345/
 (HRMN) CO: Harmon Industries Inc. ST: Missouri IN: SU: ERN


MC -- DV011 -- 2778 07/23/92 17:17 EDT
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Date:Jul 23, 1992
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