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STEWART & STEVENSON SERVICES REPORTS EARNINGS

 STEWART & STEVENSON SERVICES REPORTS EARNINGS
 HOUSTON, May 21 /PRNewswire/ -- Stewart & Stevenson Services, Inc.


(NASDAQ: SSSS), a leading manufacturer of diesel and gas turbine powered equipment, today reported earnings of $9,073,000 or $.28 per share on revenues of $181,917,000 for the first quarter of fiscal 1992, compared to $7,797,000 or $.26 per share on revenues of $153,985,000 in the first three months of fiscal 1991.
 Revenues and earnings generated by diesel and gas turbine equipment demonstrated favorable year to year comparisons, while the performance of the company's distribution segment was somewhat weaker. "We anticipate continued strength in equipment sales and a moderate improvement in our distribution segment as the general U.S. economy begins to rebound," said Bob O'Neal, president.
 Consolidated operating results for the were as follows:
 STEWART & STEVENSON SERVICES, INC.
 (Dollars in thousands except per share data)
 Consolidated Operating Results
 Three months ended April 30 1992 1991
 Revenues $181,917 $153,985
 Earnings before income taxes 13,241 $ 11,412
 Net earnings 9,073 7,797
 Net earnings per share $ .28 .26
 Average shares outstanding 32,456 29,926
 -0- 5/21/92
 /CONTACT: David R. Stewart, director-investor relations of Stewart & Stevenson Services, 713-868-7657/
 (SSSS) CO: Stewart & Stevenson Services, Inc. ST: Texas IN: SU: ERN


TS -- NY054 -- 2792 05/21/92 11:38 EDT
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Date:May 21, 1992
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