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UNR REPORTS YEAR-END FINANCIAL RESULTS

 UNR REPORTS YEAR-END FINANCIAL RESULTS
 CHICAGO, March 5 /PRNewswire/ -- UNR Industries, Inc.


(NASDAQ-NMS: UNRI) reported 1991 sales totaling $353.6 million, and net income of $16.6 million or $.37 per share. This compares with 1990 sales of $399.0 million and net income of $21.8 million, or $.48 per share.
 Fourth-quarter sales in 1991 totaled $91.1 million, with net income of $5.2 million or $.12 per share. This compares with 1990 sales of $98.9 million and net income of $5.5 million or $.12 per share.
 UNR INDUSTRIES, INC. AND SUBSIDIARIES
 CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended 12 Months Ended
 Dec. 31 Dec. 31
 1991 1990 1991 1990
 Net sales $91,071,321 $98,934,641 $353,587,245 $399,015,240
 Gross profit 21,694,283 21,551,038 75,179,248 81,898,489
 Operating income 5,437,759 6,186,765 18,000,280 24,576,262
 Interest income,
 net 436,889 2,182,623 4,867,515 8,551,044
 Income before
 taxes 5,874,648 8,369,388 22,867,795 33,127,306
 Income tax
 provision 700,000 2,900,000 6,300,000 11,300,000
 Net income $5,174,648 $5,469,388 $16,567,795 $21,827,306
 Net income
 per share $.12 $.12 $.37 $.48
 UNR INDUSTRIES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED BALANCE SHEETS
 (Audited)
 Dec. 31, 1991 Dec. 31, 1990
 Assets
 Cash $93,799,251 $69,903,876
 Accounts receivable 56,700,953 62,702,597
 Inventories(a) 77,322,087 85,788,688
 Prepaid expenses 2,900,777 2,733,922
 Plant and equipment, net 80,162,807 53,712,827
 Other assets, primarily
 notes receivable from
 insurance companies 30,482,979 46,776,051
 Total $341,368,854 $321,617,961
 Liabilities and stockholders'
 equity
 Current liabilities $91,014,417 $47,907,586
 Long-term liabilities 30,082,415 8,608,065
 Deferred income taxes 14,000,000 19,500,000
 Stockholders' equity 206,272,022 245,602,310
 Total $341,368,854 $321,617,961
 (a) Net of reserve of LIFO valuation of inventories of $9.2 million and $12.4 million at Dec. 31, 1991 and 1990, respectively. There was no significant LIFO liquidation effect on income in the accompanying financial statements.
 UNR INDUSTRIES, INC.
 NOTES TO FINANCIAL STATEMENTS
 (1) For financial reporting purposes, the company has unrecorded net operating loss carry-forwards of approximately $150 million resulting from the extraordinary reorganization charges included in the 1989 Statement of Income. Through 1991 these charges were deducted for income tax purposes to the extent expenditures were actually made by the UNR Asbestos Disease Claims Trust. Approximately $3.1 million and $5.9 million of expenditures have been made by the Trust in the fourth quarter of 1991 and the 12-month period ended Dec. 31, 1991, respectively, and the related tax benefits have been recorded by the company in those respective periods. In 1990, such expenditures were $.5 million in the fourth quarter and $2.7 million for the year. The related deductions will result in a reduction of that year's current tax liability and expense and may also generate tax loss carry-backs or carry-forwards. The timing of future distributions is undeterminable. Net operating losses resulting from the payment of tort claims could be subject to the limitations of Section 382 of the Internal Revenue Code.
 On Feb. 14, 1992, the Internal Revenue Service issued proposed regulations under Section 468B, "Special Rules for Designated Settlement Funds." The IRS has reserved the right to issue final regulations which will specifically deal with transferors of stock to funds and has invited comments. The final regulations are not expected to have an adverse impact with respect to the net operating loss carry-forward, but may affect the timing and amount of the company's deductions for the years beginning with 1989.
 (2) On Nov. 7, 1991, the company announced the declaration of a regular dividend of $.20 and an extraordinary dividend of $1 on each issued and outstanding share of the company's common stock. The dividends were paid in cash on Jan. 15, 1992, to stockholders of record as of the close of business on Dec. 31, 1991.
 -0- 3/5/92 R
 /CONTACT: Henry Grey of UNR Industries, Inc., 312-341-1234/
 (UNRI) CO: UNR Industries, Inc. ST: Illinois IN: SU: ERN


KK-ML -- DE020R -- 5524 03/05/92 14:21 EST
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