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JOSLYN REPORTS RESULTS

 JOSLYN REPORTS RESULTS
 CHICAGO, Feb. 12 /PRNewswire/ -- Joslyn Corp. (NASDAQ-NMS: JOSL)


today announced net sales of $46,633,000 and net earnings of $2,963,000 or $.63 per share for the fourth quarter of 1991 compared to sales of $47,761,000 and a loss of $18,584,000 or $3.94 per share for the fourth quarter of 1990.
 For the year ended Dec. 31, 1991, sales were $203,736,000 and net income, after a reduction of $6,763,000 or $1.43 per share for both the cumulative and current year effects of a change in accounting, was $6,937,000 or $1.48 per share compared to sales of $197,006,000 and a net loss of $10,990,000 or $2.33 per share in 1990.
 In 1991, Joslyn Corp. adopted Statement of Financial Accounting Standards No. 106 - "Employers' Accounting for Postretirement Benefits Other Than Pensions" on the immediate recognition basis.
 The fourth quarter of 1990 included non-recurring pre-tax charges of $23,500,000 primarily for the write-down of goodwill and other intangible assets. These charges had the effect of reducing the after-tax results for both the fourth quarter and the year of 1990 by $21,500,000 or $4.56 per share.
 JOSLYN CORP.
 (In Thousands Except Per Share Amounts)
 Periods ended Quarter 12 Months
 Dec. 31 1991 1990 1991 1990
 Net Sales $46,633 $47,761 $203,736 $197,006
 Income Before Taxes,
 Non-recurring Charges
 and Cumulative Effect of
 Change in Accounting 4,113 4,341 20,480 16,510
 Non-recurring Charges -- 23,500 -- 23,500
 Income (Loss) Before
 Taxes and Cumulative
 Effect of Change in
 Accounting 4,113 (19,159) 20,480 (6,990)
 Income (Loss) Before
 Cumulative Effect of
 Change in Accounting 2,963 (18,584) 13,205 (10,990)
 Cumulative Effect of
 Change in Accounting -- -- (6,268) --
 Net Income (Loss) $2,963 $(18,584) $6,937 $(10,990)
 Per Share:
 Income (Loss) Before
 Cumulative Effect of
 Change in Accounting $.63 $(3.94) $ 2.81 $(2.33)
 Cumulative Effect of
 Change in Accounting -- -- (1.33) --
 Net Income (Loss) $.63 $(3.94) $ 1.48 $(2.33)
 Average Number of
 Shares Outstanding 4,694 4,708 4,698 4,722
 At its meeting today, the board of directors of Joslyn Corp. declared a 5 percent or two cent ($.02) increase in the regular quarterly dividend from forty cents ($.40) to forty-two cents ($.42) per share, payable March 13, 1992 to shareholders of record March 2, 1992.
 Joslyn Corp., now in its 90th 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 1,900 employees and operates facilities in the United States and Canada. Joslyn has declared 304 dividends and 215 consecutive dividends on its common stock.
 -0- 2/12/92
 /CONTACT: L.G. Wolski of Joslyn, 312-454-2900/
 (JOSL) CO: Josyln Corp. ST: Illinois IN: SU: ERN SM -- NY054 -- 9229 02/12/92 12:05 EST
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Publication:PR Newswire
Date:Feb 12, 1992
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