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RB&W CORPORATION ANNOUNCES THIRD QUARTER RESULTS BOLSTERED BY CONTINUED DISTRIBUTION DIVISION RECORD PERFORMANCE

 CLEVELAND, Nov. 3 /PRNewswire/ -- RB&W Corporation (AMEX: RBW) today announced the results of its third quarter, in which the sale of its two screw plants was consummated, the company's long-term debt was refinanced, and its Distribution Division reported the second consecutive quarter of record sales and profit.
 Net sales for third quarter 1993 were $396?83,000 as compared to $44,859,000 for 1992. The drop in sales was attributable to the sale of the company's two screw manufacturing plants. Sales for the quarter in the remaining operations increased by $3,500,000 over 1992, or 10.9 percent. A net loss of $127,000 ($.02 per share) for the third quarter of 1993 compares to a net income of $233,000 ($.04 per share) in 1992. The loss was the result of the previously announced $700,000 non- recurring charge in August relating to h?e screw plants sale. Without this charge, net income for the quarter would have been $573,000 ($.10 per share), or up 146 percent over 1992.
 Net sales for the first three quarters of 1993 were $140,375,000, as compared to net sales of $136,318,000 for 1992. Net income for the first nine months of 1993 was $1,967,000, or $.33 per share, compared to a net loss of $2,257,000, or $.41 loss per share, for 1992 which reflected a retroactive charge for retiree benefits and a change in inventory accounting.
 Ronald K. Leirvik, chief executive officer, said: "With the sale of the screw manufacturing plants and our recently announced refinancing of long-term debt, we have successfully achieved our primary 1993 strategic goals in this quarter. Our program to realign product to cellular manufacturing in our remaining nut and extruded parts plants is also on schedule for completion by year end. The expected manufacturing efficiencies from this program, combined with continuing successes of our distribution operations and the strategic accomplishments of this quarter, positions the company to deliver increased shareholder value and customer service."
 RB&W Corporation is a leading industrial company engaged in the manufacture and distribution of cold formed parts. With 148 years of experience, it is one of the largest companies in the fastener industry.
 RB&W CORPORATION
 Consolidated Sales and Earnings Results
 (Unaudited)
 Dollars in Thousands, For the three months ended
 except per share Sept. 30, Sept. 26,
 1993 1992
 Net sales $39,683 $44,859
 Cost of goods sold 34,860 39,628
 Selling, general and
 administrative expenses 3,827 4,293
 Interest expense, net 893 906
 Other (income) expense, net 83 (278)
 Income (loss) before taxes and
 effect of accounting change 20 310
 Provision for income taxes 147 77
 Income (loss) before effect of
 accounting change (127) 233
 Effect of accounting change for
 postretirement benefits --- ---
 Net income (loss) $ (127) $ 233
 Weighted average shares of
 common stock 5,809,436 5,562,808
 Earnings per share:
 Income (loss) before effect of
 accounting change: $ (.02) $ .04
 Effect of accounting change --- ---
 Net income (loss) $ (.02) $ .04
 Dollars in Thousands, For the nine months ended
 except per share Sept. 30, Sept. 26,
 1993 1992(A)
 Net sales $140,375 $136,318
 Cost of goods sold 122,174 118,978
 Selling, general and
 administrative expenses 12,380 12,698
 Interest expense, net 2,828 2,589
 Other (income) expense, net 495 5
 Income (loss) before taxes and
 effect of accounting change 2,498 2,048
 Provision for income taxes 531 371
 Income (loss) before effect of
 accounting change 1,967 1,677
 Effect of accounting change for
 postretirement benefits --- (3,934)
 Net income (loss) $ 1,967 $ (2,257)
 Weighted average shares of
 common stock 5,884,012 5,553,936
 Earnings per share:
 Income (loss) before effect of
 accounting change: $ .33 $ .30
 Effect of accounting change --- (.71)
 Net income (loss) $ .33 $ (.41)
 Condensed Consolidated Balance Sheets
 (Unaudited)
 Dollars in Thousands Sept. 30, Sept. 26,
 1993 1992(A)
 ASSETS
 Current assets $56,188 $68,543
 Property, plant and equipment, net 6,444 16,222
 Other assets 14,387 10,969
 Total $77,019 $95,734
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities $24,156 $45,469
 Long-term debt 23,356 9,741
 Other long-term liabilities 9,574 8,879
 Stockholders' equity 19,933 31,645
 Total $77,019 $95,734
 (A) -- 1992 amounts have been restated to reflect the adoption as of Jan. 1, 1992, of FAS No. 106 on postretirement benefits, FAS No. 109 on accounting for income taxes and a change in inventory costing method.
 -0- 11/3/93
 /CONTACT: Murray J. Howe, vice-chairman, of RB&W, 305-421-5036/
 (RBW)


CO: RB&W Corporation ST: Ohio IN: MAC SU: ERN

BM-AR -- CL031 -- 0367 11/03/93 17:45 EST
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Date:Nov 3, 1993
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