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RUBBERMAID REPORTS RECORD THIRD-QUARTER SALES UP 9 PERCENT, EARNINGS UP 15 PERCENT

 WOOSTER, Ohio, Oct. 14 /PRNewswire/ -- Rubbermaid Incorporated (NYSE: RBD) today announced record sales and earnings for the quarter and nine months ended September 30, 1993. Third-quarter earnings were $60.4 million, or $.37 per share, up 15 percent from last year's previous record for the quarter of $52.6 million, or $.33 per share. Sales were $515.2 million, an increase of 9 percent from a previous quarterly record of $473.5 million in 1992. Unit volume increased by 9 percent.
 Nine-month earnings were $160.6 million, or $1.00 per share, up 15 percent over last year's $140.2 million, or $.87 per share before the retroactive adoption of FAS 106. After the retroactive adoption of FAS 106, earnings for last year's nine-month period were $120.0 million. Nine-month sales were $1.487 billion, an increase of 8 percent from $1.371 billion in 1992. Unit volume was up by 8 percent.
 Wolfgang R. Schmitt, chairman of the board and chief executive officer, said, "We are pleased by the strong third quarter performance, which comes on the heels of back-to-back record quarters during the first half of the year.
 "Earnings increases were driven by creative marketing programs, significant productivity gains and the excellent reception of new products. We are particularly gratified by sales increases which are totally due to unit volume being up 9 percent for the quarter, demonstrating our ability to improve market share position in a still sluggish economy.
 "During the balance of 1993, we expect to again outperform the industry and to strengthen our competitive positions. Overall, we look forward to continuing to post record increases in sales and earnings for the fourth quarter and the year," Schmitt concluded.
 Rubbermaid Incorporated, which is headquartered in Wooster, Ohio, is a multinational company that manufactures and markets plastic and rubber housewares, insulated coolers, commercial and institutional products, computer furniture modules and work stations, office products, resin casual furniture, and Little Tikes traditional preschool and juvenile products. The company has been named among the nation's ten most admired corporations for the past eight years in Fortune Magazine's annual survey.
 Rubbermaid Incorporated and subsidiaries report for the periods ended Sept. 30:
 (Dollars in thousands except per share amounts)
 Three Months Ended
 Sept. 30, 1993 Sept. 30, 1992
 NET EARNINGS PER
 COMMON SHARE (Note A) $ .37 $ .33
 STATEMENT OF EARNINGS
 Net sales $ 515,208 $ 473,480
 Cost of sales 327,791 315,636
 Selling, general and
 administrative
 expenses 85,620 73,940
 Other charges
 (credits), net 1,891 (167)
 Earnings before income
 taxes 99,906 84,071
 Income taxes 39,525 31,448
 Net earnings $ 60,381 $ 52,623
 DIVIDENDS
 Cash dividends paid $ 15,633 $ 13,618
 Cash dividends paid
 per Common Share $ .0975 $ .085
 Nine Months Ended
 Sept. 30, 1993 Sept. 30, 1992
 NET EARNINGS PER
 COMMON SHARE (Notes A and B) $ 1.00 $ .74
 STATEMENT OF EARNINGS
 Net sales $1,487,345 $1,370,977
 Cost of sales 983,951 913,413
 Selling, general and
 administrative
 expenses 243,825 233,506
 Realignment costs - 27,500
 Other charges
 (credits), net (49) 62
 Earnings before income
 taxes and cumulative
 effect of changes in
 accounting principles 259,618 196,496
 Income taxes 99,046 73,627
 Earnings before
 cumulative effect of
 changes in accounting
 principles 160,572 122,869
 Cumulative effect of
 changes in accounting
 principles
 Postretirement benefits - (20,112)
 Other - 17,281
 Net earnings $ 160,572 $ 120,038
 DIVIDENDS
 Cash dividends paid $ 46,900 $ 40,856
 Cash dividends paid
 per Common Share $ .2925 $ .255
 at Sept. 30
 1993 1992
 BALANCE SHEET
 Current assets:
 Cash and cash equivalents $ 132,562 $ 60,898
 Receivables, net 443,385 407,979
 Inventories 271,176 266,679
 Prepaid expenses 22,188 17,800
 Total current assets 869,311 753,356
 Property, plant and
 equipment, net 529,768 486,976
 Intangible and other
 assets, net 110,049 121,495
 Total assets $1,509,128 $1,361,827
 Current liabilities $ 285,656 $ 269,263
 Deferred items 102,783 104,166
 Long-term debt, non-current 20,005 21,499
 Shareholders' equity 1,100,684 966,899
 Total liabilities and equity $1,509,128 $1,361,827
 (A) Based on average shares outstanding of 160,337,000 and
 160,212,233 for the respective 1993 and 1992 three-month
 periods and 160,315,739 and 160,206,870 for the
 respective nine-month periods.
 (B) Net earnings for the first nine months of 1992 were
 $140,150 ($.87 per share) before a $20,112 charge
 ($.13 per share) representing the cumulative effect of
 changing the method of accounting for postretirement
 benefits other than pensions.
 -0- 10/14/93
 /CONTACT: Richard D. Gates, senior vice president, Business Development and Investor Relations, of Rubbermaid Incorporated, 216-264-6464, ext. 2477/
 (RBD)


CO: Rubbermaid Incorporated ST: Ohio IN: HOU SU: ERN

BM -- CL010 -- 2006 10/14/93 08:14 EDT
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Date:Oct 14, 1993
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