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ONEIDA LTD. SHOWS THIRD QUARTER EARNINGS GAIN

 ONEIDA LTD. SHOWS THIRD QUARTER EARNINGS GAIN
 ONEIDA, N.Y., Nov. 26 /PRNewswire/ -- Oneida Ltd. (NYSE: OCQ) today


announced improved financial results for the third quarter of 1991, posting net income of $4,348,000 equal to 44 cents per share on sales of $124,959,000 for the three months ended Oct. 26, 1991. This compares favorably to the same period a year ago, when net income totaled $3,871,000 equal to 40 cents per share on sales of $124,598,000.
 For the first nine months of its fiscal year, Oneida reported net income of $7,093,000 equal to 72 cents per share on sales of $332,475,000. In comparison, the company's net income for the first nine months a year ago was $7,492,000 equal to 77 cents per share on sales of $329,917,000.
 Oneida Ltd. Chairman William D. Matthews explained that the third quarter earnings improvement was due to a significant upswing in results at the company's Camden Wire subsidiary. Camden's rebound is being sparked by greater operating efficiencies and increased market shares in all the fields served by its wire and cable products.
 Oneida's larger business segment for tabletop products maintained its strong performance, led by the Oneida Silversmiths Division, Matthews said. The division has a record backlog of orders for its consumer tabletop products, while foodservice tabletop sales increased for the quarter despite the general slowdown in the hotel and restaurant industry.
 Regarding the fourth quarter and full year, Matthews said he is optimistic that Oneida's overall fiscal 1991 earnings should surpass the fical 1990 figures. In the fourth quarter, he said, the company should continue to benefit from its strong domestic manufacturing network and industry leadership in categories including flatware and non-insulating copper wire fabrication.
 ONEIDA LTD.
 AND CONSOLIDATED SUBSIDIARIES
 SUMMARIZED FINANCIAL INFORMATION
 FOR THE THREE MONTHS ENDED
 Oct. 26, Oct. 27,
 (In thousands except per share amounts) 1991 1990
 Net Sales $124,959 $124,598
 Gross Margin 34,705 34,618
 Selling, General & Administrative Expenses 25,028 25,653
 Income from Operations 9,714 9,039
 Interest Expense 2,617 2,783
 Income Before Income Taxes 6,941 6,194
 Provision for Income Taxes 2,593 2,323
 Net Income 4,348 3,871
 Earnings Per Share of Common Stock .44 .40
 Weighted Average Number of Common Shares
 Outstanding 9,842 9,654
 FOR THE NINE MONTHS ENDED
 Oct. 26, Oct. 27,
 (In thousands except per share amounts) 1991 1990
 Net Sales $332,475 $329,917
 Gross Margin 91,303 90,675
 Selling, General & Administrative Expenses 71,972 70,525
 Income from Operations 19,700 20,507
 Interest Expense 8,042 8,305
 Income Before Income Taxes 11,441 11,987
 Provision for Income Taxes 4,348 4,495
 Net Income 7,093 7,492
 Earnings Per Share of Common Stock .72 .77
 Weighted Average Number of Common Shares
 Outstanding 9,689 9,650
 This summary is based on unaudited figures.
 -0- 11/26/91 R
 /CONTACT: David A. Gymburch of Oneida Ltd., 315-361-3271/
 (OCQ) CO: Oneida Ltd. ST: New York IN: HOU SU: ERN


LC -- CL004 -- 7280 11/26/91 12:17 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 26, 1991
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