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SALEM CORPORATION ANNOUNCES RESULTS

 SALEM CORPORATION ANNOUNCES RESULTS
 MIAMI, Aug. 14 /PRNewswire/ -- Salem Corporation (AMEX: SBS) today


reported net income for the three months ended June 30, 1992 of $782,000 or $.63 per share on gross revenues of $26,934,000. This compares to net income of $226,000 or $.18 per share on revenues of $31,940,000 during the same period in 1991.
 Net income for the six months ended June 30, 1992 was $1,341,000 or $1.08 per share on gross revenues $53,853,000. This compares to net income of $745,000 or $.60 per share on revenues of $59,767,000 during the same period in 1991. Backlog at June 30, 1992 was $90.5 million as compared to $68.1 million at the beginning of the year.
 SALEM CORPORATION
 SUMMARY OF CONSOLIDATED OPERATING RESULTS
 For the Three and Six Months Ended June 30, 1992
 (In Thousands except per share amounts)
 (Unaudited)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Gross revenues $26,934 $31,940 $53,853 $59,767
 Net income $ 782 $ 226 $ 1,341 $ 745
 Earnings per
 share $ .63 $ .18 $ 1.08 $ .60
 -0- 8/14/92
 /CONTACT: Chuck Nolan of Salem Corporation, 305-866-7771/
 (SBS) CO: Salem Corporation ST: Florida IN: MAC SU: ERN


SS-JB -- FL005 -- 9902 08/14/92 09:25 EDT
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Publication:PR Newswire
Date:Aug 14, 1992
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