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SPECIALTY CHEMICAL RESOURCES REPORTS 1991 RESULTS

 SPECIALTY CHEMICAL RESOURCES REPORTS 1991 RESULTS
 CLEVELAND, Feb. 14 /PRNewswire/ -- Specialty Chemical Resources,


Inc. today reported gains in sales and operating profit for the year and quarter ended Dec. 31.
 Net sales of the formulator and custom packager of aerosol products for the industrial and automotive markets for the year ended Dec. 31 were $43,936,913, up five percent from the $41,779,352 of 1990. Operating profit in 1991 was $4,116,992, an increase of 16 percent from the $3,562,655 of 1990. Interest and amortization of debt issuance expenses, $4,016,409 in 1991 and $4,392,281 in 1990, were largely responsible for losses in both years. The 1991 net loss amounted to $97,631, or one cent per share, and compared with a net loss of $367,852, or two cents a share, in 1990.
 Net sales in the final quarter of 1991 were $11,794,988, up 13 percent from the $10,427,812 of a year earlier. Fourth quarter 1991 operating income was $1,051,452, more than double the $431,489 of a year earlier. Reflecting interest and amortization of debt issuance expenses, the company had net income of $93,059, or one cent per share, in the 1991 fourth quarter and a net loss of $627,576, or four cents per share, in the 1990 fourth quarter.
 3 MONTHS
 Periods ended Dec. 31 1991 1990
 Net sales $11,794,988 $10,427,812
 Operating profit 1,051,452 431,489
 Income (loss) continuing
 operations 87,800 (657,653)
 Per share .01 (.04)
 Income (loss) discontinued
 operations 5,259 30,077
 Per share -- --
 Net income (loss) 93,059 (627,576)
 Per share .01 (.04)
 Average shares outstanding 14,115,755 14,115,755
 12 MONTHS
 Periods ended Dec. 31 1991 1990
 Net sales $43,936,913 $41,779,352
 Operating profit 4,116,992 3,562,655
 Income (loss) continuing
 operations 71,959 (735,215)
 Per share -- (.05)
 Income (loss) discontinued
 operations (169,590) 367,363
 Per share (.01) (.03)
 Net income (loss) (97,631) (367,852)
 Per share (.01) (.02)
 Average shares outstanding 14,115,755 14,112,741
 -0- 2/14/92
 /CONTACT: Edwin M. Roth of Specialty Chemical Resources, Inc, 216-468-1380/ CO: Specialty Chemical Resources, Inc. ST: Ohio IN: CHM SU: ERN


KK -- CL019 -- 0299 02/14/92 15:17 EST
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Publication:PR Newswire
Date:Feb 14, 1992
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