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PREMIER REPORTS RECORD SECOND QUARTER AND FIRST HALF

 CLEVELAND, Dec. 16 /PRNewswire/ -- A record second quarter and first half were reported today by Premier Industrial Corporation (NYSE: PRE).
 For the quarter ended Nov. 30, 1992, earnings per share of $.39 advanced 11 percent from the $.35 reported in the same period last year. Net earnings also increased 11 percent, to $22,539,000 compared with $20,230,000 a year ago. Operating revenues of $171,677,000 were up 6 percent.
 Results were also at record levels for the first half of fiscal 1993. Earnings per share and net earnings each rose 14 percent. Earnings per share of $.75 were ahead of the previous year by $.09. Net earnings of $43,090,000 compared with $37,838,000 reported a year earlier. Operating revenues of $338,495,000 were 7 percent above last year.
 Commenting on these results, Premier Chairman Morton L. Mandel said, "Our results through the first half of fiscal 1993 reflect gains from a number of sales-building programs, and our success in controlling expenses." As to the future, Mandel said, "We are optimistic about the balance of fiscal 1993, and expect another year of record results for Premier."
 Premier is a full-service business-to-business supplier of electronic components for industrial and consumer products, essential maintenance and repair products for industrial, commercial and institutional applications and a manufacturer of high-performance fire- fighting equipment.
 REVENUES AND EARNINGS (Unaudited)
 For 3 Months Ended
 November 30
 1992 1991
 Operating Revenues $171,677,000 $161,432,000
 Earnings Before Income Taxes 35,336,000 31,811,000
 Net Earnings 22,539,000 20,230,000
 Net Earnings Per Common Share (A) $.39 $.35
 For 6 Months Ended
 November 30
 1992 1991
 Operating Revenues $338,495,000 $316,739,000
 Earnings Before Income Taxes 67,926,000 59,746,000
 Net Earnings 43,090,000 37,838,000
 Net Earnings Per Common Share (A) $.75 $.66
 Common Shares and Common Stock
 Equivalents Outstanding
 (average) (A) 57,790,219 57,678,715
 (A) -- Earnings per share and common shares outstanding do not reflect a 3-for-2 stock split effective Dec. 23, 1992.
 -0- 12/16/92
 /CONTACT: Grant C. Grinnell of Premier Industrial Corporation, 216-391-8300/
 (PRE)


CO: Premier Industrial Corporation ST: Ohio IN: CPR SU: ERN

BM -- CL008 -- 7650 12/16/92 11:04 EST
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Publication:PR Newswire
Date:Dec 16, 1992
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