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McCLAIN INDUSTRIES, INC. ANNOUNCES SALES AND EARNINGS FOR THE SECOND QUARTER AND SIX MONTHS ENDED MARCH 31, 1992

 McCLAIN INDUSTRIES, INC. ANNOUNCES SALES AND EARNINGS
 FOR THE SECOND QUARTER AND SIX MONTHS ENDED MARCH 31, 1992
 STERLING HEIGHTS, Mich., May 21 /PRNewswire/ -- McClain Industries, Inc. (NASDAQ-NMS: MCCL) today announced sales and earnings for the second quarter and six months ended March 31, 1992.
 Sales for the second quarter of fiscal 1992 ended March 31, 1992, were $6,379,000 compared to $6,027,000 for the same quarter a year earlier. Net income was $165,000 or $.06 a share compared to $70,000 or $.02 a share for the same quarter a year earlier.
 Sales for the six months ended March 31, 1992, were $12,438,000 compared to $12,844,000 a year earlier. Net income was $254,000 or $.09 a share compared to $338,000 or $.11 a share during the prior year.
 "We are extremely pleased with our second-quarter results, particularly with the increase in sales and earnings," said Kenneth D. McClain, president and chief executive officer. "It still remains to be seen whether a recovery in our industry has begun."
 McClain Industries is one of the nation's leading manufacturers of solid waste handling equipment for the waste disposal industry.
 McCLAIN INDUSTRIES, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 Net sales(a) $6,379,253 $6,027,073
 Cost of sales(a) 4,895,463 4,500,786
 Gross profit 1,483,790 1,526,287
 Selling, general &
 admin. expenses(a) 1,003,568 1,111,673
 Operating profit 480,222 414,614
 Other income (expense)(a) (229,244) (322,663)
 Income before income taxes 250,978 91,951
 Provision for income taxes 86,000 22,000
 Net income 164,978 69,951
 Income per share $.06 $.02
 Avg. shares outstanding 2,945,458 2,966,314
 Six Months Ended
 March 31,
 1992 1991
 Net sales(a) $12,438,197 $12,844,134
 Cost of sales(a) 9,534,664 9,661,415
 Gross profit 2,903,533 3,182,719
 Selling, general &
 admin. expenses(a) 2,084,073 2,387,494
 Operating profit 819,460 795,225
 Other income (expense)(a) (434,377) (297,204)
 Income before income taxes 385,083 498,021
 Provision for income taxes 131,000 160,000
 Net income 254,083 338,021
 Income per share $.09 $.11
 Avg. shares outstanding 2,945,458 2,966,314
 (a) -- Prior period accounts have been restated to conform with current period presentation.
 -0- 5/21/92
 /CONTACT: Kenneth D. McClain, president, McClain Industries, 313-264-3611/
 (MCCL) CO: McClain Industries, Inc. ST: Michigan IN: SU: ERN


JB -- DE004 -- 2798 05/21/92 11:49 EDT
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Publication:PR Newswire
Date:May 21, 1992
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