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WALBRO CORPORATION REPORTS RECORD THIRD-QUARTER SALES, INCOME

 WALBRO CORPORATION REPORTS RECORD THIRD-QUARTER SALES, INCOME
 CASS CITY, Mich., Oct. 14 /PRNewswire/ -- L.E. Althaver, chairman, president and chief executive officer, Walbro Corporation (NASDAQ-NMS: WALB), reported sales of $60,360,000 for the third quarter ended Sept. 30, 1992, compared with $48,493,000 for the same period in 1991. Net income for the quarter was $3,308,000 compared with $1,558,000 for the third quarter of 1991.
 Fully diluted net income per share for the third quarter of 1992 was $.40, based on an average of 8,554,840 shares outstanding. This compares with fully diluted net income per share of $.28 for the third quarter of 1991, based on 6,410,123 fully diluted shares outstanding.
 "Demand for Walbro's fuel system products remained strong in each of the company's major markets during the quarter, resulting in new third- quarter highs for both sales and income," Althaver said in announcing the results.
 "Shipments of Walbro's fuel pumps, fuel modules and fuel rails for automotive original equipment applications were quite high during the quarter, despite continuing slackness in auto sales and shutdowns of customer plants for vacations and new model changeovers," according to Althaver.
 "Sales of diaphragm carburetors for small engine applications were high in the third quarter, as chain saw manufacturers boosted production to satisfy unusually high demand related to post-hurricane clean-up," he added.
 "Shipments of float-feed carburetors for lawn and garden applications reflected the normal seasonal decline in the third quarter. However, shipments were strong compared with previous third quarters, and the float feed carburetor order bank is quite strong going into the fourth quarter," Althaver said.
 "The overall outlook for Walbro in the fourth quarter remains positive," Althaver noted. "We expect sales of fuel system products to remain on plan in all markets. However, the continued malaise affecting the U.S. economy does provide a cautionary note. Customers could cut back orders if there is unfavorable economic news in the coming months," he said.
 Walbro Corporation is a designer and manufacturer of automotive and small engine fuel system components. Walbro Corporation is headquartered in Cass City and has subsidiaries and joint ventures throughout the world, including the United States, Mexico, Japan, Singapore, Korea, and France. Walbro Corporation common stock is traded on the NASDAQ National Market System under the symbol WALB.
 WALBRO CORPORATION
 (In thousands, except share data)
 Three Months Ended Nine Months Ended
 Sept. 30 Sept. 30
 1992 1991 1992 1991
 Net sales $60,360 $48,493 $183,860 $144,964
 Net income 3,308 1,558 10,384 3,045
 Net income per share
 Primary .41 .30 1.38 .66
 Fully diluted .40 .28 1.33 N/A
 Primary average shares
 outstanding 8,062,789 5,170,411 7,522,903 4,586,139
 Fully diluted
 shares 8,554,840 6,410,123 8,014,954 5,825,851
 -0- 10/14/92
 /CONTACT: Gary Vollmar of Walbro Corporation, 517-872-2131/
 (WALB) CO: Walbro Corporation ST: Michigan IN: AUT SU: ERN


ML -- DE009 -- 9731 10/14/92 09:35 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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