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KUHLMAN ANNOUNCES RECORD RESULTS FOR SECOND QUARTER AND FIRST SIX MONTHS

KUHLMAN ANNOUNCES RECORD RESULTS FOR SECOND QUARTER AND FIRST SIX MONTHS
 LEXINGTON, Ky., July 23 /PRNewswire/ -- Kuhlman Corporation (NYSE: KUH) today announced record earnings for the second quarter and first six months of 1992, posting the highest net earnings from continuing operations in the company's 98-year history.
 Donald O. Dulude, chairman, president and chief executive officer, stated that there was a minor sales decline, from $32,890,000 in the 1991 period to $32,573,000 in the 1992 period, but that net earnings from the company's operations remained relatively stable, $3,172,000 for the second quarter 1992 vs. $3,099,000 for the second quarter 1991, despite increased pricing pressure in the electrical transformer business. Dulude also noted that net earnings for both the second quarter and the first six months of 1992 were enhanced by the absence of equity interest in joint venture loss.
 Looking forward to the balance of 1992, Dulude cited the slowness of the economic recovery, particularly in the area of housing and new business construction, especially on the West Coast, and sees these conditions having a softening effect. He stated that the company's continued profitability stems from productivity increases and continuous improvement through Total Quality Management.
 Following are comparative results for the three months and the six months ended June 30, 1992, and June 30, 1991:
 KUHLMAN CORPORATION
 (Thousands of Dollars)
 Second Quarter First Six Months
 1992 1991 1992 1991
 NET SALES $32,573 $32,890 $65,556 $63,230
 COST AND EXPENSES:
 Cost of Sales $25,656 $25,964 $51,284 $49,528
 Selling and Administrative
 Expense 4,010 3,946 7,850 7,401
 Interest Expense 237 284 512 452
 Interest Income ( 190) ( 277) ( 415) ( 560)
 Covenant not to Compete ( 312) ( 312) ( 624) ( 626)
 Equity in net loss of joint
 venture 0 186 --- 501
 EARNINGS BEFORE PROVISION
 FOR INCOME TAXES $ 3,172 $ 3,099 $ 6,949 $ 6,534
 PROVISION FOR INCOME TAXES 1,273 1,312 2,794 2,772
 NET EARNINGS $ 1,899 $ 1,787 $ 4,155 $ 3,762
 NET EARNINGS PER COMMON AND
 COMMON EQUIVALENT SHARE: $.32 $.30 $ .70 $.63
 Kuhlman Corporation is a manufacturer of distribution, power and instrument transformers, and spring products.
 -0- 7/23/92
 /CONTACT: Kuhlman Corporation, 606-224-4300/
 (KUH) CO: Kuhlman Corporation ST: Kentucky IN: SU: ERN


JG-ML -- DE025 -- 2742 07/23/92 17:00 EDT
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Publication:PR Newswire
Date:Jul 23, 1992
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