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THE CHERRY CORP. REPORTS SALES AND EARNINGS FOR FISCAL 1992

 THE CHERRY CORP. REPORTS SALES AND EARNINGS FOR FISCAL 1992
 WAUKEGAN, Ill., May 5 /PRNewswire/ -- The Cherry Corp. (NASDAQ: CHER) today reported sales of $229 million for the fiscal year ended Feb. 29, 1992.
 This was a 7 percent decrease from the $246 million reported in the previous fiscal year. However, aggressive cost reduction and containment programs, the elimination of two loss-producing lines last year and realized tax benefits resulted in net earnings of $4.7 million ($1.02 per share). This compares to the $5.7 million ($1.26 per share) loss reported in fiscal 1991.
 Fourth quarter sales increased 2 percent to $58 million from $57 million. Net earnings of $2.3 million included $1.7 million of tax benefits. In the fourth quarter of fiscal 1991, Cherry reported a loss of $7.2 million. This included $5.6 million of expenses related to the elimination of two production lines.
 Chairman Peter B. Cherry said, "We have suffered through a long period and endured the impact of a world-wide recession. Our employees have responded to the challenge and in fiscal 1992, we began to see the light at the end of the tunnel. The programs we instituted in the past two years began to bear fruit. As we stand here today, Cherry has returned to profitability and as of January, 1992, has seen an increase in orders at all of our production facilities. We cautiously hope the economic recovery, though not ebullient, will continue."
 Headquartered in Waukegan, Cherry Corp. has six wholly-owned subsidiaries in the United States, Germany, England, France and Hong Kong. Cherry also is a 50-50 joint venture partner in a Japanese firm, Hirose Cherry Precision Co., Ltd.
 THE CHERRY CORP.


FOURTH QUARTER FISCAL 1992 SUMMARY OF CONSOLIDATED STATEMENT OF EARNINGS
 (in thousands except share data)
 Three Months Ended Last Day of February
 Pct. of
 1992 1991 Change
 Net sales $ 58,208 $ 57,168 1.8
 Cost of production sold 42,361 42,401 - 0.1
 Gross margin on sales 15,847 14,767 7.3
 Engineering, distribution,
 administration expenses and
 restructuring costs 14,217 20,446 -30.5
 Operating income (Loss) 1,630 (5,679) N/A
 Interest expense, Net (1,420) (1,678) -15.4
 Other income, net 445 171 160.2
 Earnings (loss) before income
 Taxes and extraordinary credit 655 (7,186) N/A
 Income tax (benefit) provision (1,570) (25) N/A
 Earnings (loss) before
 extraordinary credit $ 2,225 $ (7,161) N/A
 Extraordinary tax credit 96 -- N/A
 Net earnings (loss) $ 2,321 $ (7,161) N/A
 Earnings per share:
 Before tax credit $ .49 $ (1.58) N/A
 Extraordinary tax credit .01 -- N/A
 Net earnings per share .50 (1.58) N/A
 Average shares outstanding 4,562,758 4,554,740
 Twelve Months Ended Last Day of February
 Pct.of
 1992 1991 Change
 Net sales $228,631 $245,887 - 7.0
 Cost of production sold 167,981 177,873 - 5.6
 Gross margin on sales 60,650 68,014 -10.8
 Engineering, distribution,
 administration expenses and
 restructuring costs 54,002 65,986 -18.2
 Operating income (loss) 6,648 2,028 227.8
 Interest expense, net (5,919) (6,007) - 1.5
 Other income, net 2,226 1,300 71.2
 Earnings (loss) before income
 Taxes and extraordinary credit 2,955 (2,679) N/A
 Income tax (benefit) provision (819) 3,039 N/A
 Earnings (loss) before
 extraordinary credit 3,774 (5,718) N/A
 Extraordinary tax credit 891 - -- N/A
 Net earnings $ 4,665 $ (5,718) N/A
 Earnings per share:
 Before tax credit $ .83 $ (1.26) N/A
 Extraordinary tax credit .19 -- N/A
 Net earnings 1.02 (1.26) N/A
 Average shares outstanding 4,556,745 4,553,221
 -0- 5/5/92
 /CONTACT: Edward R. Mass of the Cherry Corp., 708-360-3540, or Jill Allread of PCI, 312-558-1770, for the Cherry Corp./
 (CHER) CO: Cherry Corp. ST: Illinois IN: SU: ERN


AH -- NY060 -- 6548 05/05/92 12:06 EDT
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Date:May 5, 1992
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