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HUFFY CORPORATION ANNOUNCES THIRD QUARTER RESULTS

 HUFFY CORPORATION ANNOUNCES THIRD QUARTER RESULTS
 DAYTON, Ohio, Oct. 15 /PRNewswire/ -- Huffy Corporation (NYSE: HUF)


today announced sales and earnings for the third quarter ended Sept. 30, 1992. Net sales for the period were $156,076,000, down 2 percent from last year's record sales of $159,360,000. Net earnings for the quarter were $1,764,000, or $.14 per common share, compared to $2,736,000, or $.21 per common share, earned during the same period in 1991.
 Net sales for the nine months ended Sept. 30, 1992, were $516,601,000, a slight decline from net sales of $517,289,000 for the comparable period in 1991. Net earnings through Sept. 30, 1992, were $12,522,000, or $.91 per common share, compared to $15,995,000, or $1.14 per common share, for the first nine months of 1991.
 Mr. Harry A. Shaw III, chairman and chief executive officer, said, "Third quarter sales are down modestly from last year's record high level. True Temper Hardware Company's market share gains have helped to offset a sales decline at the Huffy Bicycle Company. Huffy Bicycles' incoming order rate has improved over the past few weeks, which indicates increased retail demand. However, lower margin, promotional bicycles account for a significant portion of those sales."
 Mr. Richard L. Molen, president and chief operating officer, commented, "Even though our third quarter consolidated sales and earnings were down from last year, there is positive news. Our Juvenile Products business segment exceeded its 1991 record performance as a result of excellent market acceptance of new products and continued operating improvements. We expect further efficiency gains after the completion of a new facility in early 1994.
 "Third quarter earnings in the Services for Retail business segment were much improved over last year due to Washington Inventory Service's continued focus on cost reduction programs and operating efficiency improvements. Huffy Service First reported solid performance with a major emphasis on the merchandising business.
 "In the Recreation and Leisure Time Products business segment, Huffy Bicycles is experiencing increased demand as we move into the Christmas selling season. In addition, Huffy Bicycles has regained its previous market share position and we are encouraged that additional share growth is probable as a result of secured product placements with key retailers for 1993. True Temper Hardware continues to gain market share and to experience margin pressures. Huffy Sports Company reported very strong third quarter sales and earnings due primarily to new product introductions and increased seasonal demand."
 Mr. Shaw continued, "For the nine months ended Sept. 30, 1992, all of our operating companies, with the exception of the Huffy Bicycle Company, reported increased sales over 1991's record levels. Earnings for the nine month period were down due to margin shortfalls at True Temper Hardware and Huffy Bicycle Company. However, we are quite pleased with the performance of our other operating companies and feel that recent management changes at both Huffy Bicycle Company and True Temper Hardware will have a positive long term impact on our results.
 "Earnings estimates for the remainder of this year are difficult due to the volatility of the seasonal sales volume at True Temper Hardware. We have encountered and overcome some major issues during 1992 and are looking forward to 1993 with optimism."
 Huffy Corporation is a diversified manufacturer and supplier of bicycles, basketball backboards, lawn and garden tools, juvenile products, and inventory, assembly and merchandising services.
 HUFFY CORPORATION
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Dollars in Thousands, Except Per Share Data)
 Quarter Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 Change 1992 1991 Change
 Net sales $156,076 $159,360 (2 pct.)$516,601 $517,289 0 pct.
 Gross profit 25,190 29,317 97,274 101,692
 Pct. to net
 sales 16.1 pct. 18.4 pct. 18.8 pct. 19.7 pct.
 Selling, general
 and administrative
 expenses 20,010 23,024 69,885 70,119
 Other income 2 100 141 440
 Earnings before
 interest and
 taxes 5,182 6,393 (19 pct.) 27,530 32,013 (14 pct.)
 Interest expense,
 net 2,312 1,881 7,366 6,182
 Earnings before
 income taxes 2,870 4,512 (36 pct.) 20,164 25,831 (22 pct.)
 Income taxes 1,106 1,776 7,642 9,836
 Net earnings $1,764 $2,736 (38 pct.)$12,522 $15,995 (22 pct.)
 Earnings per
 common share:
 Primary $0.14 $0.21 (33 pct.) $0.96 $1.23 (22 pct.)
 Fully diluted $0.14 $0.21 (33 pct.) $0.91(a) $1.14 (20 pct.)
 Fully diluted
 common
 shares 14,775,961 15,020,694 14,494,020 14,940,740
 (a) -- Non-Additive
 -0- 10/15/92 R
 /CONTACT: Pamela J. Whipps, assistant treasurer and manager Investor Relations, Huffy Corporation, 513-866-6251/
 (HUF) CO: Huffy Corporation ST: Ohio IN: LEI SU: ERN


KR-DC -- CL007 -- 0419 10/15/92 12:20 EDT
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