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METHODE ELECTRONICS REPORTS THIRD QUARTER EARNINGS

 METHODE ELECTRONICS REPORTS THIRD QUARTER EARNINGS
 CHICAGO, Feb. 20 /PRNewswire/ -- Methode Electronics (NASDAQ: METH) today reported record earnings of $.57 per share for the nine months ended Jan. 31, 1992, up from $.52 a year earlier. Net income improved to $6,375,000 from $5,777,000 on a sales decline of 3 percent to $109,998,000 from $112,997,000 last year.
 For the three-month period earnings were even at $.15 per share while net income increased to $1,691,000 from $1,640,000 last year. Sales for the three months were down about 5 percent to $33,827,000 from $35,499,000 for last year's third quarter.
 President William J. McGinley said, "There was actually a slight increase in product sales for both the three-month and nine-month periods, but the comparisons indicate a decline because of large non-recurring tooling sales in fiscal 1991.
 "Our fiscal year, which ends April 30, 1992, has so far been a difficult period for us although it is likely we will report record sales and earnings for the year. Recent forecasts for improvement in the economy imply improved results for the fourth quarter and, as developments as we see them start to unravel, they point toward continued success in fiscal 1993," McGinley concluded.
 METHODE ELECTRONICS, INC. FINANCIAL HIGHLIGHTS
 Three months ended Jan. 31: 1992 1991
 Net sales $33,827,000 $35,499,000
 Other income 446,000 622,000
 Cost of products sold 25,500,000 27,819,000
 Selling and administrative expenses 6,301,000 5,593,000
 Interest expense 52,000 147,000
 Income before income taxes 2,420,000 2,562,000
 Income taxes 729,000 922,000
 Net income 1,691,000 1,640,000
 Earnings per common share $.15 $.15
 Average number of common shares
 outstanding 11,216,000 11,123,000
 Nine months ended Jan. 31: 1992 1991
 Net sales $109,998,000 $112,997,000
 Other income 1,150,000 1,371,000
 Cost of products sold 82,518,000 86,400,000
 Selling and administrative expenses 19,342,000 18,423,000
 Interest expense 178,000 453,000
 Income before income taxes 9,110,000 9,091,000
 Income taxes 2,735,000 3,314,000
 Net income 6,375,000 5,777,000
 Earnings per common share $.57 $.52
 Average number of common shares
 outstanding 11,188,000 11,106,000
 -0- 2/20/92
 /CONTACT: Kevin Hayes vice president and treasurer of Methode Electronics, 708-867-9600; or Eugene Lyman of E.W. Lyman Associates, 312-868-9800, for Methode Electronics/
 (METH) CO: Methode Electronics Inc. ST: Illinois IN: CPR SU: ERN


TS -- NY038 -- 0889 02/20/92 11:47 EST
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Date:Feb 20, 1992
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