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STANDARD MOTOR PRODUCTS REPORTS RESULTS

 NEW YORK, April 19 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), automotive replacement parts manufacturer, reported that net income, before the cumulative effect of changes in accounting principles for post retirement benefits and income taxes, increased to $2,853,000 or $.22 per share from $1,068,000 or $0.08 per share in 1992. Net income after the effect of these changes increased to $1,763,000 or $0.13 per share.
 Mr. Lawrence Sills, president, said the increase in earnings may be attributable to several factors. Over the past few years, the company has continued to meet its goals for inventory reductions, headcount reductions and strict cost controls throughout all divisions. This has resulted in a substantial reduction of operating expenses and interest expense.
 However, the heavy costs relating to the acquisition of two large customers and the absorption of the GP/Sorensen division has masked the company's expense control achievements over the past few years. With these acquisition costs largely behind us and the company's expectations of further reductions in inventories, headcount and other expenses this year, Mr. Sills stated that Standard should show healthy earnings gains throughout 1993.
 STANDARD MOTOR PRODUCTS, INC.
 Financial Summary
 Three months ended March 31 1993 1992
 Net sales $127,756,000 $128,794,000
 Income before taxes 3,908,000 1,444,000
 Income before cumulative
 effect of changes in accounting
 principles, net 2,853,000 1,068,000
 Earnings per share(A) 0.22 0.08
 Cumulative effect of changes
 in accounting principles for post
 retirement benefits and income
 taxes, net (1,090,000) --
 Net income 1,763,000 1,068,000
 Earnings per share(A) 0.13 0.08
 (A) Per share earnings based upon average number of common and common equivalent shares outstanding during the periods.
 -0- 4/19/93
 /CONTACT: Mark S. Chanko of Standard Motor Products, Inc., 718-392-0200/
 (SMP)


CO: Standard Motor Products, Inc. ST: New York IN: SU: ERN

SM-OS -- NY089 -- 7447 04/19/93 13:12 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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