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PEERLESS MANUFACTURING ANNOUNCES EARNINGS

 PEERLESS MANUFACTURING ANNOUNCES EARNINGS
 DALLAS, Sept. 9 /PRNewswire/ -- Peerless Mfg. Co., (NASDAQ: PMFG),


Dallas, manufacturer of separators and filters used primarily in the petroleum and chemical processing industries and environmental protection equipment, today announced earnings of $0.68 per share in its fiscal year ended June 30, 1992, compared to earnings of $0.59 per share in the previous year. The fourth quarter for fiscal 1992 results were a profit of $0.13 per share compared to a loss of ($0.33) per share in the comparable quarter a year earlier.
 Incoming orders for the fiscal year totaled $28,657,000, exceeded shipments by $5,485,000 and increased the backlog at the outset of the year from $10,728,000 to $16,213,000 at June 30, 1992.
 PEERLESS MFG. CO.
 Statement of Earnings
 (Unaudited)
 Three months ended June 30 1992 1991
 Sales $ 6,413,875 $ 4,862,442
 Net earnings $ 196,892 $ (463,043)
 Earnings per common share $0.13 $(0.33)
 Weighted average shares outstanding $ 1,435,867 $ 1,428,696
 Twelve months ended June 30 1992 1991
 Sales $23,058,643 $23,576,179
 Net earnings before cumulative
 effect of accounting change $ 979,549 $ 616,320
 Cumulative effect of accounting
 change (A) -- 233,903
 Net earnings $ 979,549 $ 850,223
 Earnings per common share before
 effect of accounting change $0.68 $0.43
 Cumulative effect of accounting
 change -- 0.16
 Net earnings per common share $0.68 $0.59
 Weighted average shares outstanding 1,435,478 1,425,221
 (A) -- The company adopted Financial Accounting Standard No. 109 accounting for income taxes effective July 1, 1990.
 -0- 9/9/92
 /CONTACT: Donald A. Sillers Jr., chairman of the board, or D. H. Newman, secretary-treasurer of Peerless Mfg. Co., 214-357-6181/
 (PMFG) CO: Peerless Mfg. Co. ST: Texas IN: SU: ERN


TS -- NY035 -- 7465 09/09/92 11:29 EDT
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Publication:PR Newswire
Date:Sep 9, 1992
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