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OIL-DRI REPORTS RECORD SALES AND EARNINGS FOR THE NINE MONTHS

 CHICAGO, May 18 /PRNewswire/ -- OIL-DRI CORPORATION OF AMERICA (NASDAQ: OILC) today reported sales of $34,113,000 for the third quarter ended April 30, 1993, up 18 percent from the $28,942,000 reported a year ago. Net income and income per share were $2,157,000 and $0.31 respectively, an increase of 68 percent from the $1,283,000 or $0.18 per share reported in the third quarter last year.
 Sales and earnings for the nine months were both records. Sales were $102,639,000, up 15 percent versus $89,293,000 reported in the comparable period a year ago. Net income and income per share were $7,347,000 and $1.05, an increase of 38 percent over the $5,329,000 or $0.76 earned last year.
 Richard M. Jaffee, president and CEO, commented, "New products and product improvements have generated increased sales and profits, and helped us gain market share. With last year's introductory expenses behind us, the consumer division is generating the profits we had hoped for.
 "LASTING PRIDE(TM) Scoopable products have significantly increased their market share in the growing mass merchandiser segment. On the grocery side of the business, sales of CAT'S PRIDE(R) branded products, led by scoopable, and management of expenses have improved the division's profitability.
 "The Agrisorbents Product Group reached record sales volumes. The exceptional quality of our AGSORB(R) line of carriers, along with outstanding service and industry expertise continue to separate them from the competition and drive market share gains.
 "New PURE-FLO(R) Supreme `surface modified' adsorbents have enabled the PURE-FLO(R) Product Group to expand participation in domestic and international bleaching clay markets.
 "While sales of clay floor absorbents still lagged, the Industrial and Environmental Division enjoyed record sales of non-clay OIL-DRI LITE(TM) sorbents and accessory products during the quarter.
 "Despite a sluggish world economy, export and foreign sales showed strong gains in the quarter and the nine months.
 "We are extremely gratified with the results of the period and anticipate the continuation of this positive trend in the fourth quarter."
 Oil-Dri Corporation of America is the leader in developing, manufacturing and marketing sorbent products and related services for consumer, industrial, environmental, agricultural and specialty markets.
 OIL-DRI CORPORATION OF AMERICA
 Consolidated Statement Of Income (Unaudited)
 Third Quarter Percent Percent
 Ended April 30, 1993 of Sales 1992 of Sales
 Net sales $34,112,725 100.0 $28,841,852 100.0
 Cost of sales 24,410,512 71.6 21,125,343 73.0
 Gross profit 9,702,213 28.4 7,816,509 27.0
 Operating expenses 6,174,242 18.1 5,724,658 19.8
 Operating income 3,527,971 10.3 2,091,851 7.2
 Other income (expense) (515,307) -1.5 (383,021) -1.3
 Income before income taxes 3,012,664 8.8 1,708,830 5.9
 Income taxes 855,700 2.5 426,000 1.5
 Net income $ 2,156,964 6.3 $ 1,282,830 4.4
 Net income per share $ 0.31 $ 0.18
 Average number of
 shares outstanding 7,037,369 7,031,757
 Nine Months Ended Percent Percent
 April 30, 1993 of Sales 1992 of Sales
 Net sales $102,639,299 100.0 $89,292,487 100.0
 Cost of sales 73,502,621 71.6 63,570,440 71.2
 Gross profit 29,136,678 28.4 25,722,047 28.8
 Operating expenses 17,918,343 17.5 17,639,764 19.7
 Operating income 11,218,335 10.9 8,082,283 9.1
 Other income (expense) (1,279,800) -1.2 (1,062,756) -1.2
 Income before income taxes 9,938,535 9.7 7,019,527 7.9
 Income taxes 2,591,200 2.5 1,691,000 1.9
 Net income $ 7,347,335 7.2 $ 5,328,527 6.0
 Net income per share $ 1.05 $ 0.76
 Average number of
 shares outstanding 7,029,506 7,029,780
 OIL-DRI CORPORATION OF AMERICA
 Condensed Consolidated Balance Sheet (Unaudited)
 As Of April 30, 1993 1992
 Current assets $40,719,920 $35,887,536
 Property, plant and equipment 51,844,399 49,598,618
 Other assets 7,172,635 7,128,355
 Total assets $99,736,954 $92,614,509
 Current liabilities $14,609,700 $11,680,668
 Long-term liabilities 17,761,394 19,895,603
 Deferred investment credits
 & income taxes 1,259,212 1,962,832
 Stockholders' equity 66,106,648 59,075,406
 Total liabilities and
 stockholders' equity $99,736,954 $92,614,509
 -0- 5/18/93
 /CONTACT: Kelly McGrail, 312-321-1515, for Oil-DRI Corporation/
 (OILC)


CO: OIL-DRI Corporation of America ST: Illinois IN: CHM SU: ERN

LD -- NY127 -- 0027 05/18/93 18:17 EDT
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Date:May 18, 1993
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