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LSB INDUSTRIES, INC. REPORTS NET INCOME OF $2,097,000 FOR THE THIRD QUARTER ENDED SEPT. 30, 1992

 LSB INDUSTRIES, INC. REPORTS NET INCOME OF $2,097,000
 FOR THE THIRD QUARTER ENDED SEPT. 30, 1992
 OKLAHOMA CITY, Nov. 6 /PRNewswire/ -- LSB Industries, Inc. (AMEX: LSB), today reported operating results for the three months and nine months ended Sept. 30, 1992.
 Results for Quarter ended Sept. 30, 1992
 Total revenues, including interest income and sales for the three months ended Sept. 30, 1992, were $60,622,000 compared to $56,214,000 for the same period in 1991.
 Net income for the quarter ended Sept. 30, 1992, was $2,097,000 compared to a net loss of $866,000 for the same period in 1991. After adjustment for dividends on outstanding preferred stocks of the company, net income applicable to common stock was $1,659,000 or $.19 per share in 1992 as compared to a net loss applicable to common stock of $1,347,000 or $.25 per share for the 1991 quarter.
 Results for Nine Months ended Sept. 30, 1992
 Total revenues for the nine months ended Sept. 30, 1992, were $188,238,000 compared to $180,779,000 for the same period in 1991.
 Net income for the nine months ended Sept. 30, 1992, was $7,481,000. In the comparable nine months ended Sept. 30, 1991, the company had a net loss of $718,000.
 After adjustment for dividends on the company's outstanding preferred stocks, the net income applicable to common stock for the nine months ended Sept. 30, 1992, was $6,079,000 or $.79 per share, compared to a net loss applicable to common stock of $2,180,000 or $.32 per share for the same period in 1991.
 In making the announcement, Jack E. Golsen, chairman, stated that overall the results in the third quarter of 1992 and for the year to date reflect significant improvement from a year ago. The improvement has been mainly in the company's chemical business, which, consistent with expectations, achieved record sales and profits. Golsen also stated that in the third quarter the company's automotive products business signed an agreement for approximately $50 million to supply a customer in Czechoslovakia with equipment in the future to manufacture automotive products. Golsen further noted that the company's financial services business continued to make a strong contribution to overall earnings.
 LSB is a diversified company engaged in financial services and a variety of manufacturing, engineering and marketing activities on a worldwide basis. LSB's principal industrial business activities consist of the manufacture and sale of chemical products, commercial air conditioning products, and automotive and industrial products. LSB's common stock, debentures and Series 1 preferred stock are listed for trading on the American Stock Exchange.
 LSB INDUSTRIES, INC.
 Financial Highlights (Unaudited)
 (In thousands, except per share amounts)
 Periods ended Nine Months Three Months
 Sept. 30 1992 1991 1992 1991
 Total revenues $188,238 $180,779 $ 60,622 $ 56,214
 Operating costs and exps. 180,223 181,316 58,473 57,131
 Net income (loss) 7,481 (718) 2,097 (866)
 Net inc. (loss) applicable
 to common stock $ 6,079 $ (2,180) $ 1,659 $ (1,347)
 Earnings (loss) per
 common share:
 Primary $ 0.79 $ (0.32) $ 0.19 $ (0.25)
 Fully diluted (A) $ 0.53 $ (0.32) $ 0.14 $ (0.25)
 Average common shares
 outstanding:
 Primary 8,027 6,333 8,336 5,435
 Fully diluted 14,360 8,501 14,515 5,435
 (A) -- Fully diluted earnings per share are the same as primary earnings per share in certain periods if the effect of the fully diluted calculation is anti-dilutive.
 Notes:
 -- Primary earnings per share are based upon the weighted average number of common and dilutive common equivalent shares outstanding during each period after giving appropriate effect to preferred stock dividends.
 Fully diluted earnings per share are based on the weighted average number of common and dilutive common equivalent shares outstanding and the assumed conversion of dilutive convertible securities outstanding.
 -- In February 1992, the Financial Accounting Standards Board issued SFAS No. 109, "Accounting for Income Taxes," effective for fiscal years beginning after Dec. 15, 1992. This statement provides that deferred income tax liabilities and assets will be determined using the liability method at presently enacted rates. The company has implemented SFAS No. 109 during the second quarter of 1992 effective as of Jan. 1, 1992.
 The effect of the implementation of SFAS No. 109 on net income for the three-month and nine-month periods ended Sept. 30, 1992, was insignificant; however, the benefit of the utilization of the company's net operating loss carryforward is reflected as a reduction of the company's provision for income taxes under Statement No. 109 rather than as an extraordinary item.
 -0- 11/6/92
 /CONTACT: Tony M. Shelby, chief financial officer of LSB, 405-235-4546/
 (LSB) CO: LSB Industries, Inc. ST: Oklahoma IN: FIN SU: ERN


GK -- NY012 -- 8079 11/06/92 09:38 EST
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Date:Nov 6, 1992
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