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KYSOR INDUSTRIAL CORPORATION ANNOUNCES RESULTS OF BOARD ACTION

 CADILLAC, Mich., July 30 /PRNewswire/ -- George R. Kempton, Chairman of the Board and Chief Executive Officer of Kysor Industrial Corporation (NYSE: KZ), announced the following action taken at the Board of Directors meeting held on Friday, July 30, 1993:
 DIVIDEND ANNOUNCEMENT -- The Board of Directors approved the payment of the regular quarterly dividend of $.11 per share on common stock, payable Oct. 28, 1993, to shareholders of record on Oct. 13, 1993.
 FINANCIAL INFORMATION -- As previously reported in Kysor's press release dated July 19, 1993, net income for the quarter increased to $2.8 million compared to $2.3 million reported for the same period a year ago. For the six-month period, earnings, before the cumulative effect of the SFAS No. 106 accounting change, were $4.9 million or $.78 per share, up 43 percent on a sales and revenue increase of 11 percent.
 Kempton stated after the meeting that "we are pleased with our six- month results and excited about the position we are into take advantage of the significant market opportunities available to us in the future. We are positioned financially with a strong balance sheet; positioned technologically with new products; and positioned geographically in those domestic and international markets that are expected to grow the most rapidly in the future." He further stated that he believed "this positioning will enable us to continue to produce positive results that will benefit our customers, our shareholders and our employees and will continue to make Kysor stock an attractive investment."
 Kysor Industrial Corporation is a quality producer of refrigeration systems for the supermarket industry and heavy-duty vehicle and marine components serving the transportation industries. The Company has manufacturing operations in six states as well as the United Kingdom and Germany.
 -0- 7/30/93
 /CONTACT: Terry M. Murphy, V.P., Chief Financial Officer, or Richard G. De Boer, Treasurer, Kysor Industrial Corporation, 616-779-2200/
 (KZ)


CO: Kysor Industrial Corporation ST: Michigan IN: SU: DIV

KE -- DE009 -- 7703 07/30/93 11:39 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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