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MUELLER INDUSTRIES ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS

 WICHITA, Kan., Feb. 18 /PRNewswire/ -- Mueller Industries Inc. (NYSE: MLI) today reported net income of $16.7 million, or $1.66 per share, on net sales of $517.3 million for the year ended Dec. 26, 1992. This compares with a net loss of $43.7 million, or $4.49 per share, on net sales of $441.4 million for the previous year. Almost all of the 1991 loss was due to a revaluation of non-core business assets. Average shares outstanding totaled 10,054,727 in 1992 and 9,746,411 in 1991. The year-to-date results include a benefit for the cumulative effect of an accounting change of $.4 million for income taxes or a 4 cent per share adjustment to the first quarter's results.
 For the fourth quarter of 1992, net income was $4.4 million or 43 cents per share, on net sales of $120.9 million. This compares with a net loss of $42.7 million, or $4.42 per share, on net sales of $106.7 million for the fourth quarter of 1991.
 Harvey L. Karp, chairman and chief executive officer, stated, "Our 17 percent increase in sales was principally due to the improvement in new housing starts in 1992. We expect a further increase in new housing starts in 1993, fueled by low mortgage and interest rates."
 Mueller Industries manufactures and distributes flow control copper tube and fittings, commercially used brass rod, as well as other products made of copper, brass, bronze, plastic and aluminum. The company also owns various natural resource interests as well as a railroad in Utah.
 MUELLER INDUSTRIES INC.
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (In thousands, except share data)
 For the Quarter Ended For the Year Ended
 Dec. 26, Dec. 28, Dec. 26, Dec. 28,
 1992 1991 1992 1991
 Net sales $120,892 $106,716 $517,339 $441,431
 Costs and
 expenses 110,904 106,918 488,021 443,069
 Operating income
 (loss) 9,988 (202) 29,318 (1,638)
 Non operating
 expense, net 3,339 47,958 5,019 48,097
 Income (loss) before
 taxes and
 accounting change 6,649 (48,160) 24,299 (49,735)
 Income tax
 expense (benefit) 2,211 (5,454) 8,079 (5,994)
 Net income (loss)
 before accounting
 change 4,438 (42,706) 16,220 (43,741)
 Cumulative effect
 of accounting
 change --- --- 446 ---
 Net income (loss) $4,438 $(42,706) $16,666 $(43,741)
 Earnings (loss) per
 common and common
 equivalent share:
 Primary $0.43 $(4.42) $1.66 $(4.49)
 Fully diluted $0.43 $(4.42) $1.62 $(4.49)
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (In thousands, except share data)
 Dec. 26, Dec. 28,
 1992 1991
 Assets
 Current assets $182,381 $152,108
 Property, plant and
 equipment, net 156,682 169,285
 Other assets 33,484 13,393
 $372,547 $334,786
 Liabilities and Stockholders'
 Equity
 Current liabilities $61,526 $89,483
 Long-term debt 62,376 45,156
 Other noncurrent liabilities 44,224 47,538
 Total liabilities 168,126 182,177
 Stockholders' equity:
 Common stock 100 100
 Paid-in capital common 236,391 199,900
 Cumulative translation
 adjustments (1,094) (42)
 Accumulated deficit
 (since January 1991) (27,075) (43,741)
 Treasury common stock at cost (3,901) (3,608)
 Total stockholders' equity 204,421 152,609
 $372,547 $334,786
 Book value per share $21.21 $15.80
 -0- 2/18/93
 /CONTACT: Kent A. McKee of Mueller Industries, 316-636-6300/
 (MLI)


CO: Mueller Industries Inc. ST: Kansas IN: SU: ERN

BB -- DV003 -- 7832 02/18/93 11:15 EST
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Date:Feb 18, 1993
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