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MICHIGAN RIVET CORPORATION ANNOUNCES FIRST QUARTER RESULTS

 WARREN, Mich., Feb. 26 /PRNewswire/ -- Michigan Rivet Corporation announced its results of operations for the first quarter ended Jan. 31, 1993.
 Sales for the quarter ended Jan. 31, 1993, were $7,463,000, up 4 percent over the same quarter in 1992. Net loss was ($280,000) or ($.44) per share as compared to a net loss of ($.17) per share in the comparable period a year ago.
 MICHIGAN RIVET CORPORATION
 Three Months Ended Jan. 31
 1993 1992
 Net sales $7,462,974 $7,146,295
 Loss before cumulative effect
 of accounting change $ (279,843) $ (300,660)
 Cumulative effect of change in
 accounting for income taxes --- $ 190,000
 Net loss $ (279,843) $ (110,660)
 Loss per share $ (.44) $ (.17)
 Michigan Rivet Corporation produces specialty fasteners for the
 automotive industry. Its manufacturing facilities are located in
 Warren and Petoskey, Mich. Michigan Rivet's stock is traded on
 Michigan Over-the-Counter.
 -0- 2/26/93
 /CONTACT: William P. Lianos, vice president and treasurer, Michigan Rivet Corporation, 313-754-5100/


CO: Michigan Rivet Corporation ST: Michigan IN: AUT SU: ERN

KE -- DE022 -- 1039 02/26/93 17:36 EST
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Publication:PR Newswire
Date:Feb 26, 1993
Words:182
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