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KASLER CORP. REPORTS RECORD REVENUES AND GAINS IN EARNINGS FOR THE FOURTH QUARTER AND YEAR-END RESULTS;

 KASLER CORP. REPORTS RECORD REVENUES AND GAINS IN EARNINGS
 FOR THE FOURTH QUARTER AND YEAR-END RESULTS;
 Company Also Declares Semi-Annual Cash Dividend
 SAN BERNARDINO, Calif., Dec. 12 /PRNewswire/ -- Kasler Corp. (NYSE: KAS), a leader in the highway/heavy construction industry, today reported record revenues and a 83.5 percent increase in net earnings for the year ended Oct. 31, 1991.
 Fourth quarter net earnings were $1,711,000 or 18 cents per share on revenues of $49,701,000 vs. net earnings of $995,000 or 12 cents per share on revenues of $41,457,000 for the like period last year.
 Net earnings for 1991 were $5,681,000 or 61 cents per share on revenues of $195,189,000 compared to net earnings of $3,096,000 or 39 cents per share on revenues of $152,888,000 in 1990 (adjusted for the 3-for-2 stock split paid in May 1991).
 Commenting on the company's record year, Bob Ferguson, chief executive officer and president said, "We have stated that we are committed to improving our profit margins and earnings. This commitment was fulfilled in fiscal 1991 and the outlook for fiscal 1992 continues to be strong with the recent $151 billion Surface Transportation Bill being approved by Congress and the continuing emphasis on the nation's infrastructure."
 Record volume and improving construction operations were cited as the primary factors in the company's improved results for 1991. Ferguson also noted that the fourth quarter represented the twenty- first consecutive profitable quarter and the tenth successive quarter of increased earnings.
 Backlog stood at $258 million at Oct. 31, 1991, compared to $213 million reported last year. The company was awarded $222 million in new contract awards in fiscal 1991.
 The company's board of directors today also declared a semi- annual cash dividend of five cents per common share. The dividend will be payable on January 14, 1992 to shareholders of record on Dec. 31, 1991.
 Kasler Corp. is a general contractor engaged in the construction of highways, bridges and other public works projects, including airfields, rapid transit and water distribution facilities.
 KASLER CORP. FINANCIAL HIGHLIGHTS
 (Unaudited)
 Three Months Ended Year Ended
 Oct. 31, Oct. 31, Oct. 31, Oct. 31,
 1990 1991 1991 1990
 Revenues $49,701,000 $41,457,000 $195,189,000 $152,888,000
 Net earn-
 ings 1,711,000 995,000 5,681,000 3,096,000
 Earnings
 per share $0.18 $0.12 $0.61 $0.39
 Average shares
 outstanding 9,991,900 7,960,947 9,351,119 7,902,837
 -0- 12/12/91
 /CONTACT: Bob Ferguson or John Cash, 714-884-4811, both of Kasler Corp.; Michael Porter of Porter LeVay & Rose Inc., 212-564-4700, for Kasler Corp.
 (KAS) CO: Kasler Corp. ST: California IN: CST SU: ERN


EH-DM -- LA002 -- 1791 12/12/91 09:04 EST
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Publication:PR Newswire
Date:Dec 12, 1991
Words:469
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