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NEWELL REPORTS RECORD SALES

 FREEPORT, Ill., July 20 /PRNewswire/ -- Newell (NYSE: NWL) announced today that sales reached record highs for the second quarter and six months ended June 30, 1993.
 For the 1993 second quarter, net sales were a record $372.7 million, up 17.2 percent from $318.0 million achieved in the second quarter of 1992. Net income declined 2.0 percent to $34.5 million from $35.2 million and earnings per share were 44 cents, a 4.3 percent decrease from 46 cents achieved in the second quarter of 1992.
 The increase in sales for the quarter is attributable to internal sales growth, the acquisitions of Stuart Hall and Intercraft in the second half of 1992, and the acquisition of Levolor in May 1993. These sales gains were reduced by the absence of revenue from the company's closures business, which was divested at year-end 1992. The decline in both net income and earnings per share in 1993 is primarily attributable to the absence of an earnings contribution in 1993 from the company's closures business and certain one-time net gains in 1992. Excluding these items, net income increased 7.5 percent from $32.1 million, and earnings per share increased 4.8 percent from 42 cents, representing record second quarter earnings.
 For the first six months, sales were up 12.5 percent to $706.9 million from $628.1 million in 1992. Net income was $62.2 million, up from $18.5 million in 1992. Earnings per share were 79 cents, up from 24 cents in 1992. Results for 1992 were restated due to the adoption of FAS 106. Before the effect of the accounting change, net income for 1993 declined 0.6 percent from $62.6 million in 1992, and earnings per share declined 2.5 percent from 81 cents.
 The increase in sales for the first half is attributable to internal sales growth, and the acquisitions of Stuart Hall, Intercraft and Levolor. These sales gains were reduced by the absence of revenue from the closures business. The decline in both net income and earnings per share in 1993 prior to the adoption of FAS 106 is primarily attributable to the absence of an earnings contribution in 1993 from the company's closures business, and certain one-time net gains in 1992. Excluding these items, net income increased 8.9 percent from $57.1 million, and earnings per share increased 6.8 percent from 74 cents, representing record first-half earnings.
 A company spokesman stated, "Although economic uncertainty and some softness in retail activity continues, and clear comparisons between 1993 and 1992 are difficult, we can see that progress is underway to grow sales and increase profitability. We're positive about the outlook for the rest of 1993."
 Newell manufactures and markets staple consumer products which are sold through a variety of retail and wholesale distribution channels. Product categories include hardware, housewares and office products.
 NEWELL CO.
 Consolidated Statements of Income (Unaudited)
 (In millions, except per share data)
 Three Months Ended Six Months Ended
 June 30, Pct June 30, Pct
 1993 1992 Change 1993 1992 Change
 Net sales $372.7 $318.0 17.2 pct $706.9 $628.1 12.5 pct
 Cost of
 products sold 251.0 217.0 480.7 434.0
 Gross income 121.7 101.0 20.5 pct 226.2 194.1 16.5 pct
 Percent of
 sales 32.7 pct 31.8 pct 32.0 pct 30.9 pct
 Selling, general
 & administrative
 expenses 61.6 45.0 118.0 94.0
 Operating
 income 60.1 56.0 7.3 pct 108.2 100.1 8.1 pct
 Percent of
 sales 16.1 pct 17.6 pct 15.3 pct 15.9 pct
 Non-operating
 expenses (income):
 Interest -- net 4.3 3.5 7.5 6.7
 Goodwill 2.2 1.3 4.5 2.6
 Other (3.9) (6.5) (7.5) (11.8)
 Total 2.6 (1.7)(252.9) pct 4.5 (2.5) (280.0) pct
 Income before
 income taxes
 and cumulative
 effect of
 accounting
 change 57.5 57.7 (0.3) pct 103.7 102.6 1.1 pct
 Percent of
 sales 15.4 pct 18.1 pct 14.7 pct 16.3 pct
 Income taxes 23.0 22.5 41.5 40.0
 Effective
 rate 40.0 pct 39.0 pct 40.0 pct 39.0 pct
 Net income
 before
 cumulative
 effect of
 accounting
 change 34.5 35.2 (2.0) pct 62.2 62.6 (0.6) pct
 Percent of
 sales 9.3 pct 11.1 pct 8.8 pct 10.0 pct
 Cumulative effect
 of accounting
 change --- --- --- (44.1)
 Net income $34.5 $35.2 (2.0) pct $62.2 $18.5 236.2 pct
 Percent of
 sales 9.3 pct 11.1 pct 8.8 pct 2.9 pct
 Earnings per
 share before
 cumulative
 effect of
 accounting
 change $0.44 $0.46 (4.3) pct $0.79 $0.81 (2.5) pct
 Cumulative
 effect of
 accounting
 change --- --- --- (0.57)
 Earnings per
 share $0.44 $0.46 (4.3) pct $0.79 $0.24 229.2 pct
 Average shares
 outstanding 78.6 77.0 2.1 pct 78.5 77.1 1.8 pct
 -0- 7/20/93
 /CONTACT: William T. Alldredge, VP-Finance of Newell, 815-235-4171/
 (NWL) CO: Newell Co. ST: Illinois IN: HOU SU: ERN


JB-JL -- SD006 -- 3676 07/20/93 19:33 EDT
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Date:Jul 20, 1993
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