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ROANOKE ELECTRIC STEEL ANNOUNCES THIRD QUARTER RESULTS

 ROANOKE ELECTRIC STEEL ANNOUNCES THIRD QUARTER RESULTS
 ROANOKE, Va., Aug. 19 /PRNewswire/ -- Roanoke Electric Steel Corporation (NASDAQ-NMS: RESC) today announced net earnings for the third quarter ended July 31, 1992, of $926,289, or 17 cents per share of common stock, compared to net earnings of $53,362, or 1 cent per share, reported for the third quarter last year. Sales for the third quarter of 1992 were $38,607,681, a 25 percent improvement from 1991 third quarter sales of $30,784,681.
 For the nine months ended July 31, 1992, the Company reported net earnings of $1,393,630, or 26 cents per share of common stock, compared to a net loss of $848,765, or 16 cents per share, reported for the same period last year. Sales for the none months of 1992 were $106,674,241, up 16 percent from sales of $91,975,306 for the same period last year.
 Donald G. Smith, Chairman and Chief Executive Officer, stated:
 "The improvement in sales and earnings for the periods compared continues to be primarily attributable to increased tons shipped and to lower unit costs, resulting from cost reductions and significantly improved production levels."
 ROANOKE ELECTRIC STEEL CORPORATION
 9 Months Ended 3 Months Ended
 7/31/92 7/31/91 7/31/92 7/31/91
 Net Sales $106,674,241 $91,975,306 $38,607,681 $30,784,681
 Earnings (Loss)
 Before Income
 Tax $2,183,577 $(1,490,501) $1,503,330 $40,570
 Income Tax $789,947 $(641,736) $577,041 $(12,792)
 Net Earnings
 (Loss) $1,393,630 $(848,765) $926,289 $53,362
 Earnings (Loss)
 Per Share $.26 $(.16) $.17 $.01
 Average Shares
 Outstanding 5,301,151 5,300,709 5,301,888 5,300,709
 -- Certain amounts from 1991 above have been reclassified from their original presentation to conform with the current year presentation.
 Roanoke Electric Steel Corporation is a mini-mill producer of finished steel products, consisting of angles, plain rounds, flats, channels, and reinforcing bars, which are sold to steel fabricators, and steel service centers, and semi-finished steel billets, which are sold to other steel producers. Four subsidiaries are involved in various steel-related activities, consisting of steel scrap processing, steel bar joist fabrication, and reinforcing bar fabrication.
 -0- 8/19/92
 /CONTACT: Thomas J. Crawford, Roanoke Electric Steel Corporation, 703-342-1831/
 (RESC) CO: Roanoke Electric Steel Corporation ST: Virginia IN: MNG SU: ERN


DF -- CH002 -- 1232 08/19/92 09:18 EDT
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Publication:PR Newswire
Date:Aug 19, 1992
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