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HEIN-WERNER CORP. REPORTS FOURTH QUARTER AND 1992 YEAR END RESULTS

 WAUKESHA, Wis., March 4 /PRNewswire/ -- Hein-Werner Corp. (AMEX: HNW) today reported results for the fourth quarter and year ended Dec. 31, 1992. Net sales for the fourth quarter increased 6 percent to $15.3 million from $14.5 million in the year ago period. The company reported a net loss from continuing operations for the quarter of $554,000, or $.25 per share, as compared to a net loss from continuing operations of $690,000, or $.31 per share, in the year ago quarter. The net loss for the quarter, after accounting for the sale of the automotive service equipment business, was $4,000, as compared to a net loss of $1.9 million, or $.83 per share in the year ago quarter.
 For the year, net sales increased 10 percent to $60.3 million as compared to $54.7 million for the prior year. The net loss from continuing operations was $1.9 million, or $.83 per share, as compared to a net loss from continuing operations of $3.2 million, or $1.43 per share, for the prior year. The net loss for the year, after accounting for the sale of the automotive service equipment business, was $2.5 million, or $1.10 per share, as compared to a net loss of $5.2 million, or $2.31 per share, for the prior year.
 Joseph L. Dindorf, chairman and chief executive officer, said, "We are encouraged by these results, particularly our sales gains, which now reflect four consecutive quarters of growth. With Hein-Werner having significantly reduced its breakeven point, we expect the benefits of higher sales growth to flow through to our bottom line in 1993."
 Dindorf continued, "Hein-Werner today is a much leaner and more focused company than it was several years ago. Aggressive cost management has strengthened our competitive position. We feel our broad proprietary product line and strong brand names in collision repair equipment, engine rebuilding equipment and fluid power systems should enable us to increase our market share both domestically and internationally as we begin to see sustained increases in new equipment orders in these market segments."
 Hein-Werner Corp. is a leading worldwide manufacturer and marketer of collision repair equipment, engine rebuilding equipment and fluid power equipment. The company has manufacturing operations and sales offices in the United States and Europe with distribution channels throughout the rest of the world.
 HEIN-WERNER CORP.
 Consolidated Statements of Operations
 (Unaudited(A), In thousands, except per share amounts)
 Periods ended Three Months Year
 Dec. 31 1992 1991 1992 1991
 Net sales $15,321 $14,460 $60,258 $54,708
 Cost of sales 10,734 8,863 39,281 34,668
 Gross profit 4,587 5,597 20,977 20,040
 Operating expenses 4,801 6,408 19,923 22,474
 Operating profit (loss) (214) (811) 1,054 (2,434)
 Nonoperating income (expense) (251) 241 (2,404) (1,552)
 Income (loss) from
 continuing operations,
 before income tax (465) (570) (1,350) (3,986)
 Income tax expense (benefit) 89 120 530 (769)
 Net income (loss) from
 continuing operations (554) (690) (1,880) (3,217)
 Discontinued Operations:
 Income (loss) from
 operations of a
 business sold, net
 of related income tax (57) (1,167) (762) (1,990)
 Gain from the sale
 of a business, net
 of income taxes 607 -- 155 --
 Total 550 (1,167) (607) (1,990)
 Net income (loss) $ (4) $(1,857) $(2,487) $(5,207)
 Earnings (loss) per common share(B)
 From continuing operations $ (.25) $ (0.31) $ (0.83) $ (1.43)
 From net income (loss) $ -- $ (0.83) $ (1.10) $ (2.31)
 Weighted average shares
 outstanding 2,252 2,252 2,252 2,252
 (A) -- Operating results for the period ended Dec. 31, 1991, has been restated to continuing operations.
 (B) -- Earnings per share data have been restated to give effect to the 5 percent stock dividend paid Jan. 22, 1993.
 -0- 3/4/93
 /CONTACT: Edward F. Duffy, vice president-finance and treasurer of Hein-Werner, 414-542-6611/
 (HNW)


CO: Hein-Werner Corp. ST: Wisconsin IN: AUT SU: ERN

TS -- NY104 -- 3156 03/04/93 16:33 EST
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Date:Mar 4, 1993
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