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TRANZONIC REPORTS FIRST QUARTER RESULTS

 TRANZONIC REPORTS FIRST QUARTER RESULTS
 CLEVELAND, June 25 /PRNewswire/ -- The Tranzonic Companies


(AMEX: TNZA/TNZB) today reported net income of $1,066,200, or 30 cents per share, for the fiscal first quarter ended May 31. In the like period last year, the Cleveland-based manufacturer/distributor of paper, cloth and vinyl products earned $1,290,700, or 37 cents per share. Sales were $28,050,400 versus $27,555,200 in last year's fiscal first quarter.
 The company attributed the decline in earnings to continued sluggishness in the economy and product mix.
 Robert S. Reitman, chairman and chief executive officer, said that buying patterns of many of the company's retail customers appeared to be increasingly inconsistent, an apparent reaction to the retail climate and efforts to maintain highly controlled inventory levels. He said that while sales of consumer oriented product lines were up for the quarter, the increase was as a consequence of the December, 1991 acquisition of Pressing Supply Company.
 He said that the company's industrial business continued to be influenced by weaknesses in industrial sectors. He said that profit margins also were affected overall by changes in product mix.
 Reitman said that while a consistent strengthening of the economy appeared to be the principal governing factor in the company's outlook for renewed strong sales growth, he was optimistic that recent product line expansions would make positive contributions later in the year. He said that the company had begun shipping a new feminine douche product and earlier today announced purchase of the Maxithins sanitary pad business of Tambrands Inc.
 Tranzonic has four divisions. Its Personal Care Division manufacturers and distributes personal hygiene products while the Industrial Textiles Division supplies industrial wiping products. The Housewares Division produces and markets laundry accessories, closet organization products, personal travel organizers and cedar storage units. The Industrial Packaging Division manufacturers spiral-wound paper tubes and cores for industry.
 The Tranzonic Companies
 (Unaudited)
 Three Months
 Period Ended May 31 1992 1991
 Sales $28,050,400 $27,555,200
 Earnings before taxes $ 1,760,200 $ 2,200,700
 Income taxes $ 694,000 $ 910,000
 Net earnings $ 1,066,200 $ 1,290,700
 Per share amounts:
 Net earnings $ .30 $ .37
 Dividends:
 Per Class A Common Share $ .04 $ .04
 Per Class B Common Share $ .08 $ .08
 Average Class A Common,
 Class B Common and Common
 Equivalent Shares
 outstanding 3,552,166 3,457,380
 -0- 6/25/92
 /CONTACT: Michael J. Gannon of The Tranzonic Companies, 216-831-5757/
 (TNZA,TNZB) CO: The Tranzonic Companies ST: Ohio IN: HOU SU: ERN


BM -- CL020 -- 3888 06/25/92 15:13 EDT
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Publication:PR Newswire
Date:Jun 25, 1992
Words:429
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