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VAN DORN ANNOUNCES 1992 THIRD QUARTER AND NINE MONTHS RESULTS

 VAN DORN ANNOUNCES 1992 THIRD QUARTER AND NINE MONTHS RESULTS
 CLEVELAND, Oct. 19 /PRNewswire/ -- Van Dorn Company (NYSE: VDC) today reported that earnings per share for the third quarter of 1992 were $.21 per share compared to $.08 in 1991. Net income for the quarter was $1,744,504 versus $638,824 last year, while net sales increased 4.2 percent to $81,211,454, from $77,914,582. For the nine months, sales increased 3.9 percent to $238,206,679, from $229,249,239, and earnings per share were $.43 versus $.36 last year.
 Container segment sales increased 8.9 percent in the quarter while operating profits increased over 50 percent to $3,839,747. Sales and profit increases were due primarily to a strong performance by the food and household container segment for the quarter. For the nine months, container segment sales increased 3.8 percent and operating profits were up 3.4 percent.
 Plastic Machinery segment sales declined 5.0 percent to $24,952,207 in the third quarter. The segment had an operating profit of $498,937 compared to $392,596 last year, an increase of over 25 percent. Improved margins and cost reductions led to the profit increase on lower sales. For the nine months, sales increased 4.1 percent and segment operating profit was $272,454 compared to an operating loss last year of $369,969.
 Commenting on the quarter, W.G. Pryor, president and CEO said, "The improved operating earnings for the quarter are encouraging given the continued sluggish economy. The operating improvements we have implemented are beginning to show up on the bottom-line, giving us confidence that the company is well positioned to take advantage of opportunities once the economy improves."
 VAN DORN COMPANY
 REPORT FOR THE THIRD QUARTER AND NINE MONTHS 1992
 WITH COMPARATIVE FIGURES FOR 1991
 (Unaudited - Subject to year-end audit)
 For Three Months Ended For Nine Months Ended
 September 30, September 30,
 1992 1991 1992 1991
 Sales $81,211,454 $77,914,582 $238,206,679 $229,249,239
 Income before
 taxes 2,649,504 838,824 4,115,775(B) 4,361,586
 Income taxes 905,000 200,000 2,265,000(C) 1,390,000
 Income before
 cumulative
 effect of
 accounting
 change 1,744,504 638,824 1,850,775 2,971,586
 Cumulative
 effect of change
 in accounting
 for income taxes - - 1,725,051 -
 Net income 1,744,504 638,824 3,575,826 2,971,586
 Income per share
 before cumulative
 effect of accounting
 change (A) .21 .08 .22 .36
 Cumulative effect
 of change in
 accounting for
 income taxes (A) - - .21 -
 Net income per
 share (A) .21 .08 .43 .36
 Average number of
 shares out-
 standing during
 period 8,365,435 8,349,201 8,362,371 8,346,917
 Actual number of
 shares out-
 standing at end
 of period 8,366,162 8,350,342 8,366,162 8,350,342
 (A) Based on the average number of shares outstanding.
 Notes:
 (B) Included in income is $1,714,000 ($.12 per share) of expenses relating to the Crown Cork & Seal proposal, certain shareholders' lawsuits, severance costs, and accrued expenses in connection with the cessation of operations of a joint venture.
 (C) Included in income taxes is a provision for deferred taxes of $1,100,000 ($.13 per share) on accumulated profits at a subsidiary.
 -0- 10/19/92
 /CONTACT: Thomas R. Miklich, executive vice president of Van Dorn Company, 216-447-8777/
 (VDC) CO: Van Dorn Company ST: Ohio IN: SU: ERN


KK -- CL007 -- 1403 10/19/92 09:30 EDT
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Date:Oct 19, 1992
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