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THIRD QUARTER/FIRST NINE MONTHS RESULTS ANNOUNCED BY HANDY & HARMAN

THIRD QUARTER/FIRST NINE MONTHS RESULTS ANNOUNCED BY HANDY & HARMAN
 NEW YORK, Nov. 4 /PRNewswire/ -- Handy & Harman (NYSE: HNH) today announced third quarter results reflecting a 34 percent increase in net income compared to third quarter 1991.
 For the quarter ended Sept. 30, 1992, net income was $2,792,000, or $.20 per share, compared to $2,078,000, or $.15 per share, reported for the same period last year. Sales for the third quarter were $141,473,000, a 7 percent gain over last year's comparable restated sales of $132,746,000.
 Income from continuing operations for the first nine months of 1992 was $8,812,000, or $.63 per share, compared to a loss of $11,075,000, or $.79 per share, for the 1991 period. The 1991 results from continuing operations included charges for restructuring, nonrecurring and unusual charges equivalent to $13,739,000 or $.98 per share. Nine months sales rose 9 percent to $427,641,000 compared to a restated amount of $391,913,000 for the comparable period of 1991.
 Richard N. Daniel, chairman and chief executive officer, commented: "In view of the current concerns regarding the present state of the domestic economy, compounded by uncertainties in international markets, our outlook for the remainder of the year is guarded. However, we believe that tighter cost controls and the continuing flow of new products will enable us to achieve our targeted objectives. This year's organizational changes and our new focus should provide the basis for continuing improvement of future earnings."
 Handy & Harman, a leading fabricator, processor and refiner of precious metals, also produces a variety of specialty metal products for industrial uses through subsidiaries here and abroad. Founded in 1867, Handy & Harman is headquartered in New York. The shares of Handy & Harman are traded on the New York Stock Exchange with ticker symbol HNH.
 HANDY & HARMAN AND SUBSIDIARIES
 Period ended Quarter
 Sept. 30 1992 1991
 Net sales $141,473,000(B) $132,746,000(B)
 Income (loss) from continuing
 operations before income taxes 4,712,000 3,528,000
 Income (loss) from continuing
 operations, net of income taxes 2,792,000 2,078,000
 Discontinued operations
 Loss from operations, net of
 income taxes -- --
 Provision for loss on disposal
 of discontinued operations,
 net of income taxes -- --
 Total -- --
 Net income (loss) 2,792,000 2,078,000
 Earnings (loss) per share:
 Continuing operations .20 .15
 Discontinued operations -- --
 Net income (loss) .20 .15
 Average number of shares
 outstanding 14,009,000 13,985,000
 Period ended Nine months
 Sept. 30 1992 1991(A)
 Net sales $427,641,000(B) $391,913,000(B)
 Income (loss) from continuing
 operations before income taxes 14,862,000 (15,325,000)
 Income (loss) from continuing
 operations, net of income taxes 8,812,000 (11,075,000)
 Discontinued operations
 Loss from operations, net of
 income taxes -- (1,465,000)
 Provision for loss on disposal
 of discontinued operations,
 net of income taxes -- (24,391,000)
 Total -- (25,856,000)
 Net income (loss) 8,812,000 (36,931,000)
 Earnings (loss) per share:
 Continuing operations .63 (.79)
 Discontinued operations -- (1.85)
 Net income (loss) .63 (2.64)
 Average number of shares
 outstanding 13,997,000 13,985,000
 (A) Nine months 1991 figures include restructuring, nonrecurring and unusual charges of $20,339,000 ($13,739,000 after tax, or $.98 per share) to continuing operations, and $33,991,000, ($24,391,000 after tax, or $1.75 per share) to discontinued operations.
 (B) The company has changed its method of accounting for sales of precious metals which are sold to customers separately from the fabricated product. The effect of this change was to increase both sales and cost of sales by $24,012,000 for the third quarter and $62,056,000 for the first nine months of 1992. For the 1991 periods the change was $19,866,000 for the third quarter and $46,862,000 for the nine month period. The change has no effect on gross profit or net income, and more closely reflects the generally accepted industry practice.
 -0- 11/4/92
 /CONTACT: W.H. Martinson, Controller of Handy & Harman, 914-925-5200, or direct, 914-925-4460, or Robert W. Bloch International, 212-755-8047, for Handy & Harman/
 (HNH) CO: Handy & Harman ST: New York IN: MNG SU: ERN


SM-OS -- NY026 -- 2435 11/04/92 11:27 EST
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Date:Nov 4, 1992
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