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LANCER CORPORATION REPORTS 1992 RESULTS

 SAN ANTONIO, Texas, March 31 /PRNewswire/ -- Lancer Corporation (AMEX: LAN), a 26-year-old San Antonio based leading manufacturer of fountain soft drink and other beverage dispensing systems sold worldwide, announces results of operations for the fourth quarter and year ended Dec. 31, 1992.
 Revenues for the fourth quarter and year ended Dec. 31, 1992 were $7,437,000 and $44,729,000 compared with $8,501,000 and $35,585,000, respectively, for the previous year. The increase reflects increased demand for the company's core business products.
 Net earnings for the year ended Dec. 31, 1992 and 1991 were $1,465,000 and $693,000, respectively. The 1992 net earnings of $1,465,000 includes an extraordinary gain of $407,000 (net of $210,000 of income taxes). Earnings per share for the year ended Dec. 31, 1992 and 1991 were $.62 and $.30, respectively. Included in the 1992 earnings per share is the extraordinary item of $.18 per share. In addition to the extraordinary item, the increase in earnings reflects lower interest expense and an increase in other income. Net earnings for the fourth quarter ended Dec. 31, 1992 were $25,000 compared with a net loss of $32,000 for the fourth quarter of 1991.
 LANCER CORPORATION
 SELECTED FINANCIAL DATA
 (in thousands except for earnings per share)
 Three-month
 Year ended period ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Revenues $44,729 $35,585 $7,437 $8,501
 Net earnings (loss) $ 1,465 $ 693 $ 25 ($32)
 Net earnings (loss)
 per common share $ 0.62 $ 0.30 $ 0.00 ($0.01)
 Weighted average
 common and common
 equivalent shares 2,355 2,327 2,355 2,327
 -0- 3/31/93
 /CONTACT: George F. Schroeder, president of Lancer Corporation, 512-344-3071/
 (LAN)


CO: Lancer Corporation ST: Texas IN: SU: ERN

LR -- NY034 -- 9787 03/31/93 11:19 EST
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Publication:PR Newswire
Date:Mar 31, 1993
Words:312
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