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UNION CARBIDE EXPECTS 1ST QUARTER EARNINGS TO EXCEED MOST MARKET ESTIMATES

 DANBURY, Conn., April 21 /PRNewswire/ -- Union Carbide Corporation today said that first quarter earnings per share would be about the same as last year and would exceed most of the current estimates of market analysts. The company said that while variable margins were down for many products, earnings were helped by improving volumes and continuing cost containment.
 Net income from continuing operations for the 1992 first quarter was $42 million, $0.27 per share primary, after adjustment for the FAS 106 and 109 accounting standards. The company said it expects to announce first quarter earnings next week.
 The company said its per share estimate was based on 140.3 million shares outstanding, which Carbide said is a weighted average for the first quarter of 1993. There were 151.3 million shares outstanding as the quarter ended, Carbide said.
 The Carbide statement said the increase in shares over the 132.9 million outstanding at year end 1992 was mainly attributable to the conversion to common shares of the debentures called on March 16. The company said that any earnings dilution represented by the increase would be partially offset by lower interest costs.
 -0- 4/21/93
 /CONTACT: Tomm F. Sprick for Union Carbide Corporation, 203-794-6992/
 (UK)


CO: Union Carbide Corporation ST: Connecticut IN: CHM SU: ERP

LR -- NY101 -- 8902 04/21/93 15:46 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
Words:224
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