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SL INDUSTRIES, INC., ANNOUNCES FOURTH QUARTER AND FISCAL 1993 FINANCIAL RESULTS

 MT. LAUREL, N.J., Sept. 22 /PRNewswire/ -- SL Industries, Inc. (NYSE: SL; PHLX) today announced financial results for the fourth quarter and fiscal year 1993.
 For the fourth quarter ended July 31, 1993, net income was $803,000, or $.12 per share, on net sales of $18,236,000, (net income included $239,000, or $.04 per share, for the utilization of a federal tax benefit from a net operating loss carryforward) compared with net income of $413,000, or $.06 per share, on net sales of $12,285,000 for the same period last year (net income included $121,000, or $.02 per share, for the utilization of a federal tax benefit from a net operating loss carryforward).
 Owen Farren, president and chief executive officer, commented, "We are pleased with our fourth quarter results which showed an increase in net income of approximately 100 percent on a sales increase of 50 percent. Fourth quarter sales and profit increases benefited primarily from the inclusion of Condor D.C. Power Supplies, Inc., which was acquired in February 1993; although, most subsidiaries showed improvements over the prior year."
 For the full 1993 fiscal year, SL reported net income of $1,454,000, or $.22 per share, on net sales of $58,529,000 (net income included $500,000, or $.07 per share, for the utilization of a federal tax benefit from a net operating loss carryforward) compared with net income of $2,126,000, or $.32 per share, on net sales of $50,941,000 for FY 1992 (net income included $620,000, or $.09 per share, for the utilization of a federal tax benefit from a net operating loss carryforward). Fiscal 1993 results were adversely affected by an $814,000, or $.08 per share, pre-tax proxy solicitation cost.
 SL Industries, Inc., is comprised of operating subsidiaries focused on the design, manufacture and distribution of a broad range of innovative products. Together, they serve two business segments: Power and Data Quality, and Specialty Products. These subsidiaries, which are located throughout North America, possess distinct product development, design, manufacturing and marketing capabilities, and occupy niche positions within the markets which they serve.
 SL INDUSTRIES, INC.
 Summary Income Account
 (Unaudited)
 Three Months Ended July 31, 1993 1992
 Net sales $18,236,000 $12,285,000
 Income before income taxes and
 extraordinary item 931,000 465,000
 Provision for federal and state
 income taxes 367,000 173,000
 Income before extraordinary item 564,000 292,000
 Extraordinary item - utilization of
 the federal tax benefit of a net
 operating loss carryforward 239,000 121,000
 Net income 803,000 413,000
 Net income per common share:(A)
 Income before extraordinary item $0.09 $0.04
 Extraordinary item - utilization of
 the federal tax benefit of a net
 operating loss carryforward 0.04 0.02
 Net income per common share $0.12 $0.06
 Weighted average number of common
 shares outstanding 6,500,000 6,535,000
 (A) The computation for net income per common share is based on weighted average shares outstanding and as a result its components may not add to net income.
 SL INDUSTRIES, INC.
 Summary Income Account
 (Unaudited)
 12-Months Ended July 31, 1993 1992
 Net sales $58,529,000 $50,941,000
 Income before income taxes and
 extraordinary item(A) 1,641,000 2,341,000
 Provision for federal and state
 income taxes 687,000 835,000
 Income before extraordinary item 954,000 1,506,000
 Extraordinary item - utilization of
 the federal tax benefit of a net
 operating loss carryforward 500,000 620,000
 Net income 1,454,000 2,126,000
 Net income per common share:
 Income before extraordinary item $0.15 $0.23
 Extraordinary item - utilization of
 the federal tax benefit of a net
 operating loss carryforward 0.07 0.09
 Net income per common share $0.22 $0.32
 Weighted average number of common
 shares outstanding 6,500,000 6,552,000
 (A) Fiscal 1993 includes an $814,000, or $.08 per common share proxy contest expense provision.
 -0- 9/22/93
 /CONTACT: Ted D. Taubeneck, treasurer of SL Industries, 609-727-1500/
 (SL)


CO: SL Industries, Inc. ST: New Jersey IN: SU: ERN

TW-PS -- NY008 -- 4714 09/22/93 13:10 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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