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LIFETIME PRODUCTS, INC. ANNOUNCES RESULTS FOR 1992 FISCAL YEAR

 DALLAS, April 16 /PRNewswire/ -- Lifetime Products, Inc. (AMEX: LPI) today reported a net loss for the year ended Dec. 31, 1992 of $22,239,122 or $5.41 per share on sales of $18,408,135 compared to net earnings of $15,187,527 or $2.05 per share on sales of $45,155,061 in 1991. The loss included a one-time write off of goodwill in the amount of $12,588,118 associated with the company's automotive products subsidiary. Earnings from continuing operations for 1991 were $6,330,966 or $0.81 per share.
 Comparative information for the twelve month periods ended Dec. 31, 1992 and Dec. 31, 1991 follows:
 LIFETIME PRODUCTS, INC.
 Year Ended
 1992 1991
 Net Sales $ 18,408,135 $ 45,155,061
 Earnings (loss) from continuing
 operations before income taxes (22,239,122) 6,660,339
 Income tax expense 0 329,373
 Earnings (loss) from continuing
 operations (22,239,122) 6,330,966
 Gain (loss) on discontinued
 operations, net of tax 0 8,856,561
 Extraordinary credit - tax benefit
 from utilization of net operating
 loss carryforward 0 0
 Net earnings (loss) $(22,239,122) $ 15,187,527
 Earnings (loss) per share:
 Average number of common shares
 and common stock equivalents
 outstanding 4,108,253 7,145,984
 Earnings (loss) per common share
 Continuing operations $ (5.41) $ 0.81
 Discontinued operations 0 1.24
 $ (5.41) $ 2.05
 Lifetime Products, Inc. is a Dallas, Texas based manufacturer and marketer of premium consumer products.
 -0- 4/16/93
 /CONTACT: Don C. Rutledge, chief financial officer of Lifetime Products, Inc., 214-980-2886/
 (LPI)


CO: Lifetime Products, Inc. ST: Texas IN: HOU SU: ERN

TM -- NY086 -- 7009 04/16/93 18:47 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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