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INDRESCO REPORTS FINANCIAL RESULTS

 INDRESCO REPORTS FINANCIAL RESULTS
 DALLAS, Aug. 31 /PRNewswire/ -- INDRESCO Inc. (NYSE: ID) today


reported that its consolidated operations continued to perform well despite worldwide recessionary trends and competitive market pressures. The company's 50-percent owned partnership operations, principally Komatsu Dresser Company, continued to be adversely affected by the weak economy and internal restructuring programs designed to reduce costs and increase efficiencies.
 For the nine months and three months ended July 31, losses from partnership operations, principally Komatsu Dresser, more than offset segment operating income and when combined with other corporate expenses resulted in net losses of $(15.2 million) ($0.56 per share) and $(10.4 million) ($0.38 per share), respectively.
 Ralph W. Ytterberg, chairman and chief executive officer, stated that the new public-owned company officially began operations Aug. 1, 1992 with a book value of approximately $400 million or $14.71 per share, based on 27.2 million shares outstanding following the one-for-five share distribution to Dresser shareholders.
 Outlook
 Ytterberg said that the company anticipates significant restructuring costs in the quarter ending October 31.
 In commenting on the outlook for 1993, Ytterberg noted that "after decades of neglect, Washington is finally recognizing the need to revitalize the nation's infrastructure. Also, the decline in interest rates is expected to help stimulate the economy, which, in turn, drives many of our businesses." Additionally, he pointed out "these factors, combined with our own cost-reduction programs and plans, have given us significant confidence relative to 1993 and beyond."
 Headquartered in Dallas, INDRESCO participates primarily in the machinery and capital goods sector of the economy. The company's common stock is traded under the ticker symbol ID on the New York Stock Exchange.
 INDRESCO INC. AND SUBSIDIARIES
 (Unaudited, In millions, except per share data)
 Periods ended Three months Nine months
 July 31 1992 1991 1992 1991
 Sales and service
 revenues
 Mining and
 Construction
 Equipment $60.8 $68.5 $167.5 $203.0
 Minerals and
 Refractory Products 52.1 51.1 156.3 161.1
 Air Equipment 26.8 29.9 85.5 91.3
 Net sales and
 service revenues $139.7 $149.5 $409.3 $455.4
 Operating profit
 Mining and
 Construction
 Equipment $2.6 $2.9 $4.5 $5.2
 Minerals and
 Refractory Products 5.5 4.1 15.3 17.8
 Air Equipment 0.4 2.8 5.1 7.6
 Subtotal 8.5 9.8 24.9 30.6
 Komatsu-Dresser and
 KOMDRESCO partnership
 operations (15.9) (8.6) (34.2) (33.8)
 Total segment
 operating profit (7.4) 1.2 (9.3) (3.2)
 General corporate
 expenses (1.1) (1.9) (4.6) (5.1)
 Other nonsegment
 expenses, net (3.1) (0.5) (4.8) (1.1)
 Pension Plan Settlements -- -- 2.4 10.7
 Interest income
 (expense), net 0.2 (0.1) -- --
 Earnings (loss) before
 income taxes (11.4) (1.3) (16.3) 1.3
 Income taxes 1.0 (0.2) 0.8 (0.7)
 Earnings (loss) before
 extraordinary item (10.4) (1.5) (15.5) 0.6
 Tax benefits from loss
 carryforwards -- 0.1 0.3 0.5
 Net earnings (loss) ($10.4) ($1.4) ($15.2) $ 1.1
 Proforma earnings (loss)
 per common share
 Earnings (loss) before
 extraordinary items $(0.38) ($0.06) ($0.57) $0.02
 Extraordinary items -- -- 0.01 0.02
 Net earnings (loss) $(0.38) ($0.06) ($0.56) $0.04
 Proforma average common
 shares outstanding 27.2 26.8 27.0 26.8
 -0- 8/31/92
 /CONTACT: Gene E. Leeson of INDRESCO Inc., 214/953-4505/
 (ID) CO: INDRESCO Inc. ST: Texas IN: OIL SU: ERN


TS -- NY041 -- 4919 08/31/92 11:26 EDT
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Date:Aug 31, 1992
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