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TRANZONIC REPORTS FISCAL '93 RESULTS

 CLEVELAND, April 2 /PRNewswire/ -- The Tranzonic Companies (AMEX: TNZA/TNZB) today reported net income of $4,214,000, or $1.19 per share, for the fiscal year ended Feb. 28. Sales were a record $119,951,400. Last year, the Cleveland-based manufacturer/distributor of paper, cloth and vinyl products had net income of $4,576,300, or $1.29 per share, on sales of $110,717,600.
 Robert S. Reitman, chairman and chief executive officer, said that the year's earnings reflected the impact of the economy on retail sector viability. He said that notwithstanding conservative and aggressive credit management, customer credit losses were the largest in the company's history exceeding credit reserves and the favorable resolution of a number of contingent issues. He said the most significant among the losses was PharMor Drug where allegations extend beyond the scope of effective credit management.
 Reitman said that investments associated with on-going expansion programs, including those for information systems, greater manufacturing capacity and additional warehousing, resulted in a meaningful increase in net interest costs in advance of the benefit from such investments. Reitman noted that while the sluggish economy and competitive pressures continue to make sales growth and margin maintenance a challenge, the company had "held its own" through a difficult period.
 Fiscal 1993 fourth quarter net income amounted to $605,200, or 17 cents per share, down from $734,500, or 20 cents per share, a year earlier. Sales were $29,306,500 versus $28,093,600 in last year's final period.
 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
 THREE MONTHS
 2/28 2/29
 Period ended Feb. 28/29 1993 1992
 Sales $29,306,500 $28,093,600
 Earnings before taxes 922,200 1,069,500
 Income taxes 317,000 335,000
 Net earnings 605,200 734,500
 Per share amounts:
 Net earnings .17 .20
 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 3,558,153 3,546,189
 TWELVE MONTHS
 2/28 2/29
 Period ended Feb. 28/29 1993 1992
 Sales $119,951,400 $110,717,600
 Earnings before taxes 6,786,000 7,411,300
 Income taxes 2,572,000 2,835,000
 Net earnings 4,214,000 4,576,300
 Per share amounts:
 Net earnings 1.19 1.29
 Dividends:
 Per Class A Common Share .165 .16
 Per Class B Common Share .325 .32
 Average Class A Common,
 Class B Common and Common
 Equivalent Shares Outstanding 3,554,560 3,536,299
 -0- 4/2/93
 /CONTACT: Michael J. Gannon of The Tranzonic Companies, 216-831-5757/
 (TNZA TNZB)


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

BM -- CL014 -- 2623 04/02/93 15:47 EST
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Date:Apr 2, 1993
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