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 HOUSTON, Dec. 19 /PRNewswire/ -- Vallen Corporation (Nasdaq: VALN) today announced sales and earnings for the period ended Nov. 30, 1994.
 Net sales for the second quarter rose to $50,956,000, up 9.1 percent from $46,723,000 recorded in the second quarter of fiscal 1994. Net earnings increased 24.3 percent to $1,885,000 or $.27 per share, compared to $1,517,000 or $.22 per share recorded for the second quarter of fiscal 1994.
 For the six months, net sales increased 7.3 percent to $97,018,000, compared with $90,451,000 recorded last year. Net earnings increased 9.1 percent to $3,089,000 or $.44 per share, compared with $2,831,000 or $.40 per share reported a year ago.
 Jim Thompson, Vallen's incoming president and chief executive officer, notes that "Vallen's program to return more bottom line value to shareholders continued to gain momentum in the quarter ended November 30. The $.27 earnings per share figure is the highest since the second quarter of fiscal 1992.
 "The distribution business segment continues to add new nationwide safety product and service contracts this year, and to expand existing contracts with additional product lines and overall customer locations served. Gross operating margins have stabilized in the first half of the year, and cost control measures instituted in the ongoing re- engineering process are reducing operating expenses across the business' locations.
 "Vallen's 50 percent owned Mexican affiliate reported record profits in November and is on a record setting sales year pace. New business is strong in the important Mexico City and Monterrey markets.
 "Manufacturing segment results for the quarter are in line with those of the same quarter in fiscal 1994. Backlogs and bookings continue to be strong in the shower and eyewash systems area for the year."
 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 United States and Canada, and has an additional 17 facilities located in customer plants. It operates from 14 locations in Mexico through its 50 percent owned affiliate, Proveedora De Seguridad Industrial Del Golfo, S.A. De C.V.
 Encon Safety Products, Inc., Vallen's manufacturing subsidiary, is the leading producer of emergency shower and eyewash fountains for industrial use. The manufacturing subsidiary also molds and vacuum forms several industrial safety equipment items, including optical quality protective eyewear.
 Operating Results
 Second Quarter Ended
 November 30,
 1994 1993
 Net sales $50,956,000 $46,710,000
 Operating income 2,920,000 2,311,000
 Net earnings 1,885,000 1,517,000
 Net earnings per common share $.27 $.22
 Average number of common shares
 outstanding 7,104,000 7,032,000
 Six Months Ended
 November 30,
 1994 1993
 Net sales $97,018,000 $90,450,000
 Operating income 4,693,000 4,170,000
 Net earnings 3,089,000 2,831,000
 Net earnings per common share $.44 $.40
 Average number of common shares
 outstanding 7,096,000 7,028,000
 -0- 12/19/94
 /CONTACT: Leighton Stephenson, vice president - finance of Vallen Corporation, 713-462-8700/

CO: Vallen Corporation ST: Texas IN: HEA SU: ERN

WB -- NY072 -- 5985 12/19/94 13:57 EST
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Publication:PR Newswire
Date:Dec 19, 1994

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