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TOASTMASTER REPORTS SECOND QUARTER RESULTS

 COLUMBIA, Mo., July 22 /PRNewswire/ -- Toastmaster Inc. (NYSE: TM), manufacturer of electrical consumer appliances and time pieces, today reported decreased sales and earnings for the second quarter of 1993.
 Sales for the quarter ended June 30, 1993 decreased approximately 14 percent from $44.1 million in 1992 to $37.8 million in 1993. Net income for the three months ended June 30, 1993 was $0.2 million or $0.03 per share, compared to net income of $2.4 million or $0.31 per share for the three months ended June 30, 1992. Sales for the six months ended June 30, 1993, decreased approximately 7 percent from $70.4 million in 1992 to $65.3 million in 1993. Net income for the six months ended June 30, 1993, was $0.029 million or $0.00 per share, compared to net income of $2.2 million or $0.32 per share for the three months ended June 30, 1992.
 "This was an extremely difficult quarter" said Robert H. Deming, chairman of the board of directors. "While sales of the Bread Box(TM) breadmakers, the Cool Edge Grill(TM) and new clocks were strong, most other categories were negatively impacted by tight inventory controls implemented by several major retailers. Unseasonable weather conditions have continued to negatively affect environmental product sales. Despite a late June order surge, fan sales were very disappointing. The second quarter of last year included strong shipments of the Grillerie(TM) which were not repeated this year. We are hopeful that order rates for all appliances and environmental products will improve in the second half."
 Daniel J. Stubler, president and chief operating officer, said, "Retail order softness requires the company to continue to adjust production schedules to bring inventory levels in line with current demand for kitchen countertop appliances and environmental products. This is likely to continue to affect margins during the next several quarters."
 TOASTMASTER INC.
 Financial Summary and Comparisons
 (Dollars in thousands, except per share)
 (Unaudited)
 Three Month Results
 Percent
 1993 1992 Change
 Net sales $ 37,762 $ 44,133 (14.4)
 Net income (loss) $ 218 $ 2,352
 Net income (loss) per share $ .03 $ .31
 Weighted average common
 and common equivalent shares
 outstanding
 (in thousands) 7,686 7,687
 Six Month Results
 Percent
 1993 1992 Change
 Net sales $ 65,296 $ 70,426 (7.3)
 Net income (loss) $ 29 $ 2,233
 Net income (loss) per share $ .00 $ .32
 Weighted average common
 and common equivalent shares
 outstanding
 (in thousands) 7,688 7,005
 Toastmaster Inc., headquartered in Columbia, Mo., designs, manufactures, markets and services a wide array of electrical consumer appliances and time pieces under the brand names of Toastmaster(R) and Ingraham(R).
 -0- 7/22/93
 /CONTACT: John E. Thompson of Toastmaster Inc., 314-445-8666/
 (TM)


CO: Toastmaster Inc. ST: Missouri IN: HOU SU: ERN

PS -- NY008 -- 4307 07/22/93 08:17 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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