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KUHLMAN ANNOUNCES RECORD PRE-TAX PROFITS FOR 1991 FROM CONTINUING OPERATIONS

 KUHLMAN ANNOUNCES RECORD PRE-TAX PROFITS FOR 1991
 FROM CONTINUING OPERATIONS
 LEXINGTON, Ky., Feb. 14 /PRNewswire/ -- Kuhlman Corporation (NYSE: KUH) today reported 1991 pre-tax earnings from continuing operations of $12,337,000 on sales of $126,181,000 as compared to $10,505,000 on sales of $117,578,000 in 1990. Net earnings from continuing operations for 1991 were $1.21 per share or 17 percent higher than the $1.03 reported for 1990. In the fourth quarter, 1991, net earnings were $1,658,000 or 19 percent higher than the same period last year.
 Donald O. Dulude, chairman and chief executive officer, said he was pleased to report for the second year in a row that pre-tax earnings are the best in the company's history. "The 1991 pre-tax earnings performance was achieved despite an extremely challenging economic environment in each of our markets," he said.
 Kuhlman Corporation is a manufacturer of distribution, power and instrument transformers, and spring products.
 Following are comparative results for the fourth quarters and for the years ended Dec. 31, 1991, and Dec. 31, 1990:
 KUHLMAN CORPORATION
 (Thousands of dollars)
 Fourth Quarter Full Year
 1991 1990 1991 1990
 NET SALES $30,888 $28 626 $126,181 $117,578
 COST AND EXPENSES:
 Cost of Sales $28,815 $21,929 $99,286 $91,715
 Selling and
 Administrative Expense 4,400 3,070 14,860 14,532
 Interest Expense 251 757 968 1,493
 Interest Income (436) (271) (1,270) (667)
 EARNINGS BEFORE PROVISION FOR
 INCOME TAX FROM CONTINUING
 OPERATIONS $2,858 $3,141 $12,337 $10,505
 PROVISION FOR INCOME TAXES 1,200 1,751 5,145 4,698
 EARNINGS FROM CONTINUING
 OPERATIONS $1,658 $1,390 $7,192 $5,807
 EARNINGS FROM DISCONTINUED
 OPERATIONS (net of income taxes):
 Operating Earnings --- --- --- $410
 Gain on Sale --- (570) --- 3,215
 NET EARNINGS $1,658 $820 $7,192 $9,432
 NET EARNINGS PER COMMON AND
 COMMON EQUIVALENT SHARE:
 Continuing operations $.28 $.25 $1.21 $1.03
 Discontinued operations --- (.11) --- $.64
 NET EARNINGS PER COMMON AND
 COMMON EQUIVALENT SHARE $.28 $.14 $1.21 $1.67
 -0- 2/14/92
 /CONTACT: Barbara Boyd of Kuhlman Corporation, 606-224-4300/
 (KUH) CO: Kuhlman Corporation ST: Kentucky IN: SU: ERN


SM -- DE011 -- 0251 02/14/92 13:47 EST
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Publication:PR Newswire
Date:Feb 14, 1992
Words:373
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