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JOSLYN CORPORATION ANNOUNCES NET INCOME

 CHICAGO, Oct. 20 / -- Joslyn Corporation (NASDAQ-NMS: JOSL) today announced net income of $3,832,000 or $.54 per share for its most recent quarter, as compared to $3,830,000 or $.54 per share in the third quarter of 1992. Net sales decreased 5 percent to $53,689,000 compared to $56,234,000 for the third quarter of 1992. Earnings per share for 1992 were restated to reflect a three-for-two stock split in the form of a 50 percent stock dividend in December 1992.
 JOSLYN CORPORATION
 Quarter Nine Months
 Periods ended
 Sept. 30 1993 1992 1993 1992
 Net sales $53,689,000 $56,234,000 $167,230,000 $163,820,000
 Operating income
 from business
 segments $ 6,700,000 $ 7,289,000 $ 21,836,000 $ 21,791,000
 Income before
 taxes $ 5,582,000 $ 5,880,000 $ 18,190,000 $ 17,654,000
 Net income $ 3,832,000 $ 3,830,000 $ 11,690,000 $ 11,204,000
 Net income
 per share $.54(A) $.54 $1.65 $1.59
 Average number
 of shares
 outstanding 7,086,000 7,037,000 7,081,000 7,039,000
 (A) Includes an income tax net benefit of about $.02 per share related to the Federal income tax rate change in accordance with Statement of Financial Accounting Standards No. 109.
 At its meeting today, the board of directors of Joslyn Corporation declared the regular quarterly dividend of twenty-nine cents ($.29) per share, payable Jan. 3, 1994, to shareholders of record on Dec. 17, 1993.
 Joslyn Corporation, now in its 91st year, provides diversified products and services primarily to the electric utility, telecommunications, defense and industrial markets. Joslyn also manufactures equipment for the following industries: aerospace, building construction and petrochemical. It has approximately 2,000 employees and operates facilities in the United States and Canada. Joslyn has declared 311 dividends and 222 consecutive dividends on its common stock. Shares are traded over the counter.
 Joslyn stock is listed on the NASDAQ National Market System. NASDAQ symbol is JOSL.
 -0- 10/20/93
 /CONTACT: W. Rotenberry of Joslyn, 312-454-2900/
 (JOSL)


CO: Joslyn Corporation ST: Illinois IN: TLS SU: ERN

WB -- NY070 -- 4629 10/20/93 13:21 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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