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RUBBERMAID REPORTS 1991 RECORD SALES AND EARNINGS

 RUBBERMAID REPORTS 1991 RECORD SALES AND EARNINGS
 WOOSTER, Ohio, Feb. 5 /PRNewswire/ -- Rubbermaid Incorporated


(NYSE: RBD) today announced record sales and earnings for the year and quarter ended Dec. 31, 1991. Earnings for the year increased 13 percent to $162.7 million, or $1.02 per share, versus $143.5 million, or $.90 per share, last year. Net sales reached $1.67 billion, a 9 percent advance over the $1.53 billion in 1990.
 Earnings for the fourth quarter were $38.6 million, or $.24 per share, a 17 percent increase over the $33.0 million, or $.21 per share, of 1990's comparable period. Sales were $410 million, up 7 percent from the $382 million of last year's fourth quarter.
 All per share figures have been adjusted for the two-for-one stock split effected Dec. 2, 1991.
 "We are extremely pleased with the company's performance for both the quarter and the total year," stated Walter W. Williams, Rubbermaid chairman of the board and chief executive officer. "The year was challenging because of the sluggish business environment, but with accelerated new product introductions, increased customer promotions and merchandising programs, plus the outstanding efforts of all Rubbermaid associates, we were able to achieve record results.
 "Virtually all of the fourth quarter's 7 percent sales gain came from unit growth. This year's 9 percent sales growth resulted from unit volume increases of seven percentage points and about two percentage points for price realization earlier in the year. The better pricing reflected the positive price changes initiated during the fourth quarter of 1990. Net earnings were impacted positively by favorable factory operating rates, higher unit volume, tight cost control, lower resin costs and productivity improvements.
 "Our major consumer businesses, Housewares Products, Specialty Products, Little Tikes and Curver Rubbermaid, all had strong performances," Williams said. "Commercial Products, the Office Products Group and Rubbermaid-Allibert faced difficult challenges throughout the year and performed below the company average. The stagnant economy had the most impact on Commercial Products and the Office Products Group.
 "As we enter 1992, we anticipate a continuation of slow economic growth. Our plans emphasize new product introductions and strengthened partnerships with our customers to develop programs and promotions to help them draw customers to their businesses and move Rubbermaid products in even greater volume. We are optimistic about the year and expect to generate continued record sales and earnings in 1992," Williams concluded.
 Rubbermaid Incorporated and subsidiaries report for the periods ended Dec. 31:
 Three Months Ended Dec. 31
 1991 1990
 STATEMENT OF EARNINGS
 Net sales $409,725,000 $381,654,000
 Cost of sales 269,317,000 254,031,000
 Selling, general and
 administrative expenses 81,572,000 74,680,000
 Other charges (credits), net (3,332,000) (726,000)
 Earnings before income taxes 62,168,000 53,669,000
 Income taxes 23,603,000 20,680,000
 Net earnings $ 38,565,000 $ 32,989,000
 Per common share(A) $ .24 $ .21
 Dividends
 Cash dividends paid $ 13,609,000 $ 11,998,000
 Per common share $ .085 $ .075
 Twelve Months Ended Dec. 31
 1991 1990
 STATEMENT OF EARNINGS
 Net sales $1,667,305,000 $1,534,013,000
 Cost of sales 1,102,685,000 1,014,526,000
 Selling, general and
 administrative expenses 307,780,000 286,647,000
 Other charges (credits), net (5,747,000) 1,571,000
 Earnings before income taxes 262,587,000 231,269,000
 Income taxes 99,937,000 87,749,000
 Net earnings $162,650,000 $143,520,000
 Per common share (A) $ 1.02 $ .90
 Dividends
 Cash dividends paid $49,643,000 $42,621,000
 Per common share $ .31 $ .27
 Dec. 31
 BALANCE SHEET 1991 1990
 Current assets:
 Cash and cash equivalents $153,321,000 $ 77,498,000
 Receivable, net $276,983,000 $302,271,000
 Inventories 225,243,000 216,808,000
 Prepaid expenses 8,452,000 6,120,000
 Total current assets 663,999,000 602,697,000
 Property, plant and
 equipment, net 461,375,000 405,520,000
 Intangibles and other assets 119,157,000 106,033,000
 Total assets $1,244,531,000 $1,114,250,000
 Current liabilities $ 245,500,000 $ 235,300,000
 Deferred items 85,479,000 71,555,000
 Long-term debt, non-current 27,812,000 39,191,000
 Shareholder's equity 885,740,000 768,204,000
 Total liabilities and
 equity $1,244,531,000 $1,114,250,000
 (A) Based on average shares outstanding of 160,114,133 and 159,977,050 for the respective 1991 and 1990 three-month periods and 160,126,310 and 159,687,518 for the respective 12 month periods.
 -0- 2/5/92
 /CONTACT: Richard D. Gates, senior vice president, investor relations & corporate communications of Rubbermaid Incorporated, 216-264-6464, ext. 2477/
 (RBD) CO: Rubbermaid Incorporated ST: Ohio IN: HOU SU: ERN


LC -- CL002 -- 7056 02/05/92 09:45 EST
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