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SUNBEAM-OSTER REPORTS STRONG FIRST QUARTER RESULTS

 PROVIDENCE, R.I., April 28 /PRNewswire/ -- Sunbeam-Oster Company, Inc. (NYSE: SOC) today announced another quarter of strong results for the period ended April 4, 1993. First quarter earnings were $23.8 million, up 49 percent from last year's $16.0 million and fully diluted earnings per share increased 24 percent to 26 cents per share, up from last year's 21 cents per share (before the impact of FAS 106, the accounting change for postretirement benefits other than pensions adopted effective as of the first quarter of 1992). Average shares outstanding increased 30 percent to 93.2 million from the 71.9 million in the comparable prior year period as a result of the company's equity offering in August, 1992.
 Sales for 1993's first quarter were $289.4 million, up 8.4 percent from $267.1 million in last year's first quarter. Virtually all of the sales increase came from unit growth in existing, new and acquired product lines.
 In reviewing Sunbeam-Oster's first quarter performance, Robert H. Setrakian, the company's chief financial officer, stated, "We achieved a strong operating performance again this quarter despite softness in the economic environment and in retail activity during March due to unfavorable weather conditions. Our margin expansion programs are progressing steadily, and we are confident that Sunbeam-Oster will meet its sales and earnings growth targets for the remainder of 1993."
 Separately, the company announced that its board of directors has declared a regular quarterly cash dividend of one cent per share on the company's common stock. The dividend is payable June 15, 1993 to common stockholders of record as of June 1, 1993.
 Sunbeam-Oster is a leading international consumer products company that develops, manufactures, and markets a diversified portfolio of outdoor, household and specialty brand name products. The company's Sunbeam and Oster brands have been household names for generations, and the company is a market share leader in many of its product categories.
 SUNBEAM-OSTER COMPANY INC. AND SUBSIDIARIES
 Report For the Quarter Ended April 4, 1993
 Consolidated Statements of Operations
 (In Millions, Except EPS)
 Three Months Ended
 Pct.
 4/4/93 3/29/92 Change
 Net sales $289.4 $267.1 8.4 pct
 Cost of goods
 sold 209.8 197.5
 Gross profit 79.6 69.6 14.3 pct
 Percent of sales 27.5 pct 26.1 pct
 Selling, general &
 administrative
 expense 31.4 30.9
 Depreciation &
 amortization 7.7 7.0
 Operating earnings 40.5 31.7 27.7 pct
 Percent of sales 14.0 pct 11.9 pct
 Interest expense 1.8 2.5
 Other (income)
 expense, net (2.4) 1.9
 Earnings before income taxes
 and cumulative effect of
 adoption of FAS 106 41.1 27.3
 Income taxes 17.3 11.3
 Earnings before cumulative
 effect of adoption of FAS 106 23.8 16.0 48.9 pct
 Cumulative effect of adoption
 of FAS 106 --- 17.3
 Net earnings (loss) $23.8 $(1.3)
 Earnings per share before
 cumulative effect of adoption
 of FAS 106:
 Primary $.26 $.22 18.2 pct.
 Fully diluted $.26 $.21 23.8 pct.
 Average number of common
 shares outstanding:
 Primary 93.2 71.2
 Fully diluted 93.2 71.9
 /NOTE: Results for the quarter ended March 29, 1992 reflect the cumulative effect of adoption of FAS 106. In the 1992 first quarter both primary and fully diluted loss per share after the effect of FAS 106 were 3 cents./
 -0- 4/28/93
 /CONTACT: Robert H. Setrakian, chief financial officer of Sunbeam- Oster Company, Inc., 401-831-0050/
 (SOC)


CO: Sunbeam-Oster Company, Inc. ST: Rhode Island IN: HOU SU: ERN

SJ -- NE004 -- 1771 04/28/93 08:21 EDT
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Date:Apr 28, 1993
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