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THE WEST COMPANY REPORTS SECOND QUARTER RESULTS

 THE WEST COMPANY REPORTS SECOND QUARTER RESULTS
 PHOENIXVILLE, Pa., July 16 /PRNewswire/ -- The West Company,


Incorporated (NYSE: WST) today reported net income for the second quarter of 1992 of $5.6 million, or $.36 per share, compared with net income of $3.4 million, or $.22 per share in the second quarter of 1991.
 The increase in net income resulted from continuing company-wide improvements in operating results. Net income for the first six months of 1992 totalled $11.2 million, or $.72 per share, compared with $1.1 million or $.07 per share in 1991. Results for the first six months of 1991 include a charge associated with the adoption of Financial Accounting Standards No. 106.
 Sales for the second quarter of 1992 were $86.7 million compared to second quarter 1991 sales of $81.8 million. The increase in sales occurred throughout the company's Health Care Division. Sales for the first half of 1992 totalled $168.5 million as compared with $167.9 million in 1991.
 In announcing the improvement in sales and earnings, William G. Little, president and chief executive officer, stated, "Activity during the second quarter met our continuing expectations. We have improved our operating margins as we see the effect of 1991's restructuring plan. We are encouraged by our sales increase which occurred in spite of the reduction caused by the sale earlier this year of a majority of our glass operation. While we continue to foresee good results for the year, they will follow, as expected, seasonal patterns."
 The West Company is a premier supplier of products that satisfy the unique filling, sealing and dispensing needs of the health care and consumer products industries. More than 85 percent of West's revenue is generated by the health care markets. Products include stoppers, closures, containers, medical device components and assemblies made from elastomers, metal, plastic and glass. West also manufactures related packaging machinery.
 THE WEST COMPANY, INCORPORATED
 Consolidated Statements of Operations
 (In thousands, except per-share data)
 Quarter ended 6/28/92 Pct. 6/30/91 Pct.
 Net sales $86,685 100 $81,758 100
 Cost of goods sold 60,690 70 60,410 74
 Gross profit 25,995 30 21,348 26
 Selling, general and
 administrative
 expenses 13,824 16 13,895 17
 Restructuring charges --- --- 296 ---
 Other (income)
 expense, net 143 --- (169) ---
 Operating profit 12,028 14 7,326 9
 Interest expense 1,168 1 1,493 2
 Income before income
 taxes and minority
 interests 10,860 13 5,833 7
 Provision for income
 taxes 5,192 6 2,794 3
 Minority interests 457 1 24 ---
 Income from consolidated
 operations 5,211 6 3,015 4
 Equity in net income
 of affiliated
 companies 381 --- 404 ---
 Income before cumulative
 effect of change in
 accounting method 5,592 --- 3,419 ---
 Cumulative effect to
 Jan. 1, 1991, of the
 change in accounting
 for non-pension
 retirement benefits --- --- --- ---
 Net income $5,592 --- $3,419 ---
 Net income per share:
 Income before cumulative
 effect of change in
 accounting method $.36 --- $.22 ---
 Cumulative effect of
 change in accounting
 method --- --- --- ---
 Total .36 --- .22 ---
 Average shares
 outstanding 15,609 --- 15,518 ---
 Six months ended 6/28/92 Pct. 6/30/91 Pct.
 Net sales $168,476 100 $167,855 100
 Cost of goods sold 118,079 70 123,722 74
 Gross profit 50,397 30 44,133 26
 Selling, general and
 administrative
 expenses 26,814 16 28,016 17
 Restructuring charges --- --- 816 ---
 Other (income)
 expense, net 878 1 (270) ---
 Operating profit 22,705 13 15,571 9
 Interest expense 2,205 1 3,255 2
 Income before income
 taxes and minority
 interests 20,500 12 12,316 7
 Provision for income
 taxes 9,188 5 5,671 3
 Minority interests 815 1 81 ---
 Income from consolidated
 operations 10,497 6 6,564 4
 Equity in net income
 of affiliated
 companies 683 --- 793 ---
 Income before cumulative
 effect of change in
 accounting method 11,180 --- 7,357 ---
 Cumulative effect to
 Jan. 1, 1991, of the
 change in accounting
 for non-pension
 retirement benefits --- --- (6,254) ---
 Net income $11,180 --- $1,103 ---
 Net income per share:
 Income before cumulative
 effect of change in
 accounting method $.72 --- $.47 ---
 Cumulative effect of
 change in accounting
 method --- --- (.40) ---
 Total .72 --- .07 ---
 Average shares
 outstanding 15,592 --- 15,505 ---
 Note: The company adopted Financial Accounting Standards No. 106, Employer's Accounting for Postretirement Benefits Other Than Pensions, at year-end 1991 and restated the first nine months of 1991 to reflect the adoption effective Jan. 1, 1991. Other items have been reclassified for comparative purposes.
 /delval/
 -0- 7/16/92
 /CONTACT: Stephen M. Heumann, corporate treasurer of The West Company, 215-935-4640/
 (WST) CO: The West Company, Incorporated ST: Pennsylvania IN: SU: ERN


MK-LJ -- PH031 -- 9878 07/16/92 15:09 EDT
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