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PITTWAY'S 1991 NET INCOME UP 6 PERCENT FOR YEAR AND 75 PERCENT FOR QUARTER ON 4 PERCENT SALES INCREASE

PITTWAY'S 1991 NET INCOME UP 6 PERCENT FOR YEAR AND 75 PERCENT FOR
 QUARTER ON 4 PERCENT SALES INCREASE
 CHICAGO, Feb. 27 /PRNewswire/ -- Consolidated sales of Pittway Corp. (AMEX: PRY) for the year ended Dec. 31, 1991, increased 4 percent to $981,631,000 from $944,141,000 last year. Earnings for the year amounted to $25,516,000 ($1.85 per share) as compared to $24,063,000 ($1.74 per share) for the last year, an increase of 6 percent.
 Sales for the fourth quarter increased 4 percent to $261,647,000 from $251,771,000 for the same period last year. Earnings for the fourth quarter amounted to $9,328,000 ($.67 per share), as compared to $5,317,000 ($.39 per share) for the same period last year, an increase of 75 percent.
 Commenting on the operating results, King Harris, president, said, "Our strong fourth quarter results reflect higher profits from the BRK Fire Safety Group and the Seaquist Group. Their excellent performance more than offset a weak fourth quarter at Penton which continued to be affected by the worst media recession since the Second World War.
 "Overall, 1991 proved to be a year of mixed results for Pittway Operations worldwide. All our operations were impacted by sluggish economic conditions in North America and Europe.
 "Pretax income increased for the year and the quarter at a lesser rate than operating income due to sharp changes in other income and expense items, primarily decreases in income of affiliates and tax benefit leases and a foreign currency translation swing from a gain to a loss.
 "The BRK Fire Safety Group had an outstanding year despite a weak U.S. retail market and a low level of activity in the new commercial building market. All the group's major businesses achieved record dollar sales and made significant gains in market share. Combined Group profits were the second best in history.
 "The Seaquist Group had another solid year of growth with sales reaching record levels and operating profits attaining their second highest level in history. These results were remarkable given the negative impact the gulf war had on worldwide sales of upscale perfume and cosmetic products during the first half of the year. Better utilization of plant capacity and improved operating efficiencies aided group results.
 "All of Ademco's main operating divisions enjoyed a year of double- digit sales gains and a modest improvement in operating profits. Ademco is now well on its way to re-establishing itself as the clearcut leader in the burglar alarm equipment business.
 "Penton's sales were down and its profits off sharply as the result of the current media recession. Penton's magazines held their own in a very difficult environment. A majority of the magazines maintained or increased their market share despite fierce price competition.
 "A decline in aerosol shipments more than offset a significant increase in liquid-fill shipments as Barr's sales and profits declined. Environmental concerns continue to affect the entire aerosol industry."
 Pittway is a manufacturer and distributor of professional burglar and fire alarm equipment; a manufacturer of retail small appliance items including smoke detectors, rechargeable lights and fire extinguishers; a publisher of trade magazines and directories; a producer of dispensing closures, pumps and aerosol valves; a contract packager of aerosol and liquid household products; a real estate developer; and a participant in joint venture real estate developments.
 PITTWAY CORP. AND SUBSIDIARIES
 Consolidated Statement of Income
 (Dollars in thousands, except per share data)
 Periods ended Three months 12 months
 Dec. 31 1991 1990 1991 1990
 Net Sales $261,647 $251,771 $981,631 $944,141
 Operating Expenses:
 Cost of sales 159,202 159,036 606,988 597,353
 Selling, general &
 administrative 74,692 72,211 278,898 260,613
 Depreciation and
 amortization 11,568 11,988 46,502 44,373
 TOTAL 245,462 243,235 932,388 902,339
 Operating Income 16,185 8,536 49,243 41,802
 Other Inc. (Expense) (1,631) (18) (7,077) (1,789)
 Income Before
 Income Taxes 14,554 8,518 42,166 40,013
 Income Taxes 5,226 3,201 16,650 15,950
 Net Income $ 9,328 $ 5,317 $ 25,516 $ 24,063
 Net Inc. Per Share of
 Common & Class A Stock $ .67 $ .39 $ 1.85 $ 1.74
 Avg. No. of Shares Outstg.
 (in thousands) 13,826 13,805 13,823 13,804
 -0- 2/27/92
 /CONTACT: Edward J. Schwartz of Pittway, 312-831-1070, or Marti Dee of Edelman, 312-280-7000/
 (PRY) CO: Pittway Corp. ST: Illinois IN: SU: ERN


SH -- NY073 -- 3379 02/27/92 15:16 EST
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Date:Feb 27, 1992
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