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TREDEGAR REPORTS THIRD-QUARTER, NINE-MONTH RESULTS

 RICHMOND, Va. Oct. 14 /PRNewswire/ -- Tredegar Industries Inc. (NYSE: TG) reported today its sales, net income and earnings per share for the third quarter ending Sept. 30, 1993.
 Third-quarter sales were $122,407,000, compared with $126,182,000 in 1992. For the first nine months of 1993, sales were $358,021,000, compared with $361,870,000 in 1992.
 Third quarter net income was $2,307,000, or 21 cents per share, down from $4,101,000, or 38 cents per share, in 1992. Third-quarter results include a charge of $525,000, or 5 cents per share, related to the adjustment of deferred income tax balances for the 1 percent increase in the federal income tax rate. For the first nine months of 1993, net income was $7,721,000, or 71 cents per share, compared with $10,682,000, or 98 cents per share, a year earlier.
 In addition to the 5-cent charge caused by the federal tax increase, per share earnings for the nine-month period also include a charge of 10 cents related to a loan prepayment, a gain of 13 cents on the sale of Emisphere (NASDAQ-NMS: EMIS) common stock, a 9-cent gain on the sale of oil and gas assets and a 1-cent gain related to the adoption of new accounting standards for postretirement health benefits and deferred income taxes. Last year's nine-months results include a charge of 11 cents per share related to a goodwill write-off in Tredegar's molded plastics business.
 If the effects of special charges and gains were excluded, Tredegar's third quarter net income would have been $2,832,000, or 26 cents per share, compared with $4,101,000, or 38 cents per share, last year. Year-to-date net income would have been $6,863,000, or 63 cents per share, compared with $11,864,000, or $1.09 per share, in 1992.
 John D. Gottwald, Tredegar's president and chief executive officer, said: "Tredegar's 1993 results continue to trail last year's performance due to lower profits in our plastics segment and higher expenses related to new businesses. Results in our metal products segment show continued improvement."
 -0- 10/14/93
 /CONTACT: Edward A. Cunningham, 804-330-1598, or Thomas E.B. Phillips, 804-330-1043, both of Tredegar Industries/
 (TG EMIS)


CO: Tredegar Industries Inc.; Emisphere ST: Virginia IN: CHM SU: ERN

MH-PB -- DC011 -- 2118 10/14/93 10:36 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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