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SL INDUSTRIES, INC. ANNOUNCES FIRST QUARTER FISCAL 1994 FINANCIAL RESULTS

 MT. LAUREL, N.J., Nov. 19 /PRNewswire/ -- SL Industries, Inc. (NYSE, PMLX: SL) today announced financial results for the first quarter of fiscal year 1994.
 For the first quarter ended Oct. 31, 1993, net income was $1,070,000 or $.16 per share, on net sales of $17,640,000. Net income included $467,000 or $.07 per share from continuing operations and $603,000 or $.09 per share from the cumulative effect of a change in accounting for income taxes. This compares with a net loss from continuing operations of $295,000 or $.05 per share, on net sales of $12,826,000 for the same period last year. Last year's results included an $814,000 pre-tax proxy solicitation cost.
 The first quarter results show continued progress in our businesses. The increase in net sales and profitability was due to the inclusion of Condor D.C. Power Supplies, as well as an improvement in overall sales from our other businesses which included the effect of new products introduced last fiscal year. The above factors more than offset somewhat lower sales in the defense and aviation markets.
 SL Industries, Inc. is comprised of operating subsidiaries located throughout North America that focus on the design, manufacture and distribution of a broad range of industrial and consumer products. Together, these businesses serve two business segments: Power and Data Quality, and Specialty Products.
 SL INDUSTRIES, INC.
 Summary Statements of Operations
 (Unaudited)
 Three Months
 Ended Oct. 31, 1993 1992
 Net sales $17,640,000 $12,826,000
 Income (Loss) from continuing
 operations before income taxes 742,000 (290,000)
 Provision for federal and state
 income taxes 275,000 5,000
 Income (Loss) before cumulative
 effect of change in accounting
 for income taxes 467,000 (295,000)
 Cumulative effect to Aug. 1,
 1993, of change in accounting
 for income taxes 603,000 ---
 Net income (loss) $1,070,000 $(295,000)
 Net income (loss) per common share:
 Income (Loss) from continuing
 operations $0.07 ($0.05)
 Cumulative effect to Aug. 1,
 1993, of change in accounting
 for income taxes 0.09 ---
 Net income (loss) per common share $0.16 $(0.05)
 Weighted average number of common
 shares outstanding 6,500,000 6,499,000
 -0- 11/19/93
 /CONTACT: James E. Morris, vice president and corporate controller of SL Industries, 609-727-1500/
 (SL)


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

TW-MP -- NY012 -- 6415 11/19/93 09:31 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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