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HEIN-WERNER REPORTS FIRST QUARTER RESULTS

 WAUKESHA, Wis., April 29 /PRNewswire/ -- Hein-Werner Corp. (AMEX: HNW) today reported results for the first quarter ended April 3, 1993.
 Net sales were $14.8 million, compared to $15.1 million for the first quarter of 1992, down approximately 3 percent. The company reported a net loss of $167,000, or $.07 per share, compared to a net loss of $499,000, or $.22 per share in the year earlier period.
 Joseph L. Dindorf, president and chief executive officer, said, "Overall this quarter produced some encouraging trends. The consolidation of manufacturing operations, which occurred late in 1992, and continued reduction of operating expenses enabled Hein-Werner to record a substantial increase in operating profit despite slightly lower sales. While the recession in Europe is affecting sales, we saw increased sales activity in the U.S., where sales were up 6 percent."
 Dindorf concluded, "We feel we are off to a good start in 1993. We have lowered our breakeven point significantly. The key to our bottom line performance in 1993 will be dependent upon our ability to increase sales, which is tied directly to the pace of economic recovery."
 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, in thousands, expect per share amount)
 Three Months Ended April 3, 1993 March 28, 1992(A)
 Net sales $ 14,761 $ 15,149
 Cost of sales 9,249 9,565
 Gross profit 5,512 5,584
 Selling, engineering and
 administrative expenses 5,084 5,410
 Operating profit 428 174
 Interest expense, net 443 535
 Other (income) expense, net (39) (111)
 Earnings (loss) from continuing
 operations, before income taxes 24 (250)
 Income tax (benefit) expense 191 (60)
 Net earnings (loss) from
 continuing operations $ (167) $ (190)
 Loss from discontinued
 operations, net -- (309)
 Net earnings (loss) $ (167) $ (499)
 Earnings (loss) per common share
 from continuing operations(B) $ (0.07) $ (0.08)
 Earnings (loss) per share(B) $ (0.07) $ (0.22)
 Weighted average
 shares outstanding 2,252 2,252
 (A) -- Operating results for 1992 have been restated to give effect to the sale of a business during that year.
 (B) -- Earnings per share data for 1992 have been restated to give effect to the 5 percent stock dividend paid Jan. 22, 1993.
 -0- 4/29/93
 /CONTACT: Edward F. Duffy, vice president-finance and treasurer of Hein-Werner Corp., 414-542-6611/
 (HNW)


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

TS -- NY023 -- 2460 04/29/93 08:52 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
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