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VALLEN CORPORATION REPORTS FOURTH QUARTER SALES AND NET EARNINGS

 VALLEN CORPORATION REPORTS FOURTH QUARTER SALES AND NET EARNINGS
 HOUSTON, July 21 /PRNewswire/ -- Vallen Corporation (NASDAQ: VALN) today announced sales and net earnings for the fourth quarter and for the year ended May 31, 1992.
 Net sales for the fourth quarter rose to $44,680,000, up 8.6 percent from $41,145,000 recorded in the fourth quarter of 1991. Net earnings decreased .2 percent to $1,621,000 or $.23 per share, compared to $1,624,000 or $.24 per share recorded for the fourth quarter last year.
 For the year, net sales increased 10.5 percent to $167,338,000, compared with $151,398,000 recorded last year. Net earnings decreased 4.1 percent to $6,306,000 or $.92 per share, compared with $6,578,000 or $.98 per share reported a year ago.
 According to J.M. Wayne Code, president: "Fiscal 1992 was another year of growth for Vallen even though many of our large industrial customers continue to defer spending on new plants and equipment. Sales increased from growth in our share of the market for our products and services as volume at all of the company's regions increased. The company continues to contain operating expenses, while aggressively marketing its products and services. During the quarter, we opened a new branch in Burlington, Wash. and our "in-plant" safety store concept expanded, with a new facility in Paulsboro, N.J."
 Vallen Safety Supply Company, the distribution subsidiary, sells a wide variety of industrial safety and health products. It currently operates from 39 locations throughout the continental United States and Alaska, and has an additional 11 facilities located in customer plants.
 Encon Safety Products, Inc., Vallen's manufacturing subsidiary, is the leading producer of emergency shower and eye wash fountains for industrial use. The manufacturing subsidiary also molds and vacuum forms several industrial safety equipment items, including optical quality protective eyewear.
 VALLEN CORPORATION
 Operating Results
 Year Ended May 31 1992 1991
 Net sales $167,338,000 $151,398,000
 Operating income 10,071,000 10,575,000
 Net earnings 6,306,000 6,578,000
 Net earnings per common share $. 92 $ .98
 Average number of common
 shares outstanding 6,867,000 6,698,000
 Fourth Quarter May 31 1992 1991
 Net sales $ 44,680,000 $ 41,145,000
 Operating income 2,447,000 2,510,000
 Net earnings 1,621,000 1,624,000
 Net earnings per common share $ .23 $ .24
 Average number of common
 shares outstanding 6,976,000 6,730,000
 -0- 7/21/92
 /CONTACT: Don B. Hair of Vallen Corporation, 713-462-8700/
 (VALN) CO: Vallen Corporation ST: Texas IN: SU: ERN


LR -- NY078 -- 1384 07/21/92 13:29 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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