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TECUMSEH PRODUCTS COMPANY ANNOUNCES 1991 RESULTS

 TECUMSEH PRODUCTS COMPANY ANNOUNCES 1991 RESULTS
 TECUMSEH, Mich., Jan. 22 /PRNewswire/ -- Tecumseh Products Company


(NASDAQ-NMS: TECU) announced today its 1991 consolidated results for the fourth quarter and full year as set forth in the following Consolidated Summary of Income. Dollar amounts are shown in millions except per- share data.
 TECUMSEH PRODUCTS COMPANY
 Three Months Ended 12 Months Ended
 Dec. 31 Dec. 31
 1991 1990 1991 1990
 Net sales $278.8 $274.5 $1,197.2 $1,318.1
 Income before taxes 18.1 4.0 76.2 28.0
 Provision for taxes 7.3 2.1 33.7 13.8
 Net income $10.8 $1.9 $42.5 $14.2
 Earnings per share $1.98 $.35 $7.77 $2.59
 Note: The 1990 12-month results include a nonrecurring provision for environmental cleanup of $19.2 million after income taxes, or $3.51 per share.
 Profitability continued to show significant gains compared to 1990 levels, although worldwide sales for the company increased by less than 2 percent in the fourth quarter of 1991.
 Domestic compressor profitability improved as the result of increased export demand along with effective manufacturing cost control. Fourth-quarter 1991 sales and operating margins of domestically produced engines also recorded gains in comparison to the prior year, which was particularly weak in the midst of the recession.
 For the year, sales were down in each of the company's major business segments and geographic regions, with the exception of U.S. export sales which were buoyed by the relatively weak U.S. dollar along with increased demand for air conditioning compressors in the Middle and Far East.
 Despite a 9-percent decrease in total sales, the company's net income for 1991 increased by 27 percent compared to prior-year results, adjusting for the effect of the 1990 nonrecurring provision for environmental cleanup. The earnings improvement is due primarily to a turnaround in the performance of SICOM, Ltda., the company's Brazilian subsidiary, which returned to reasonable levels of profitability after incurring significant losses in 1990. U.S. compressor operating margins also improved; however, sales and margins of the company's European operations, both compressor and engine, decreased as a result of the stagnant economic conditions in key markets of Western Europe.
 The company expects a modest improvement in sales for 1992. Uncertainties exist in Brazil as its administration attempts to revive the economy without once again triggering hyperinflation. Barring a major disruption to the Brazilian economy, the company expects continued improvement in consolidated earnings for 1992.
 -0- 1/22/92
 /CONTACT: John H. Foss of Tecumseh Products Company, 517-423-8417/
 (TECU) CO: Tecumseh Products Company ST: Michigan IN: SU: ERN


JG-KK -- DE012 -- 2301 01/22/92 12:27 EST
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Date:Jan 22, 1992
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