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MINE SAFETY APPLIANCES ISSUES EARNINGS

 MINE SAFETY APPLIANCES ISSUES EARNINGS
 PITTSBURGH, Feb. 14 /PRNewswire/ -- John T. Ryan III, president,


chairman and chief executive officer of Mine Safety Appliances Company (NASDAQ: MNES), announced today that consolidated sales for the fourth quarter of 1991 were $134,209,000, the highest quarter in the company's history and an increase of 4.3 percent from the fourth quarter of 1990.
 Sales for the full year 1991 were $500,673,000, also a record high and an increase of 5.6 percent over 1990.
 However, fourth quarter 1991 earnings were $3,437,000 or 54 cents per share, a decline of 59 percent from the fourth quarter 1990. Earnings for the year 1991 were $18,651,000 or $2.92 per share, down 36 percent from 1990.
 The higher sales were mainly generated by increased shipments of gas masks and parts to the U.S. Defense Department. Much of this was on long-term contracts and some due to the Middle East conflict. Sales to commercial customers in the United States and many other international markets declined due to widespread economic weakness. Historically and currently commercial sales carry much greater margins that military sales, and this change of sales mix caused lower earnings. Results in 1991 were also adversely affected by continued start-up losses at TMP -- a joint venture in Germany that produces metallized paper and cardboard -- and by operating losses at the Catalyst Research Division, whose main operations are being consolidated into MSA's Instrument Division as announced last week.
 The results from operations for the three-month and 12-month periods ended Dec. 31, are as follows:
 MINE SAFETY APPLIANCES (amounts in thousands, except earnings per share & shares outstanding)
 Period Ended Three Months Twelve Months
 Dec. 31 1991 1990 1991 1990
 Net sales $134,209 $128,698 $500,673 $474,090
 Cost of products sold 92,158 78,722 327,081 288,456
 Selling and admin. costs 32,293 32,248 125,824 121,776
 Income before income taxes 6,263 14,976 34,956 51,115
 Taxes on income 2,826 6,616 16,305 21,911
 Net income 3,437 8,360 18,651 29,204
 Earnings per share $.54 $1.30 $2.92 $4.50
 Average number of
 common shares outstanding 6,353,191 6,471,401
 -0- 2/14/92
 /CONTACT: Robert J. Aiello of Ketchum Public Relations, 412-456-3853, for Mine Safety Appliances/
 (MNES) CO: Mine Safety Appliances Company ST: Pennsylvania IN: MNG SU: ERN


CD -- PG008 -- 0337 02/14/92 16:10 EST
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Publication:PR Newswire
Date:Feb 14, 1992
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