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TRANZONIC REPORTS FIRST QUARTER RESULTS

 CLEVELAND, June 25 /PRNewswire/ -- The Tranzonic Companies (AMEX: TNZA/TNZB) today reported net income of $1,076,900, or 30 cents per share, on sales of $31,238,200 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 $1,066,200, or 30 cents per share, on sales of $28,050,400.
 Robert S. Reitman, chairman and chief executive officer, said current year results reflected continued pressure on margins which he said was attributable to sluggishness in sectors of the economy the company serves and to a highly competitive market environment.
 He said that the company experienced sales gains in both its consumer and industrial oriented product categories, but that margins were affected adversely by product mix and competition for market share. Reitman noted that operating earnings rose almost five percent, but the gain was largely offset by net interest expense associated with expansion programs.
 Tranzonic has four divisions. Its Personal Care Division manufactures 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 manufactures spiral-wound paper tubes and cores for industry.
 THE TRANZONIC COMPANIES (Unaudited)
 THREE MONTHS
 Period ended May 31 1993 1992
 Sales $31,238,200 $28,050,400
 Earnings before taxes $1,774,400 $1,760,200
 Income taxes $697,500 $694,000
 Net earnings $1,076,900 $1,066,200
 Per share amounts:
 Net earnings $.30 $.30
 Dividends:
 Per Class A Common Share $.045 $.04
 Per Class B Common Share $.085 $.08
 Average Class A Common, Class B Common
 and Common Equivalent Shares
 outstanding 3,536,081 3,552,166
 -0- 6/25/93
 /CONTACT: Michael J. Gannon of The Tranzonic Companies, 216-831-5757/
 (TNZA TNZB)


CO: The Tranzonic Companies ST: Ohio IN: HOU SU: ERN

KL -- CL012 -- 5828 06/25/93 15:11 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
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