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WETTERAU REPORTS MODEST INCREASES IN SALES, EARNINGS FOR FISCAL YEAR

    WETTERAU REPORTS MODEST INCREASES IN SALES, EARNINGS FOR FISCAL YEAR
    ST. LOUIS, May 15 /PRNewswire/ -- Wetterau Incorporated (NASDAQ: WETT) reported modest gains in sales and earnings for the company's 1992 fiscal year, it was announced today by Ted C. Wetterau, chairman of the board and chief executive officer.
    For the fiscal year ended March 28, 1992, the company reported net sales of $5.71 billion, an increase of 0.8 percent compared with net sales of $5.67 billion the prior year.  Net earnings for the year reached $51.7 million, an increase of 1.1 percent compared with net earnings of $51.1 million the year before.  Primary earnings per common share for the year was $2.26, an increase of 1.3 percent compared with primary earnings per common share of $2.23 the previous year.  Fully diluted earnings per common share for the year was $2.15, a decrease of 1.8 percent compared with fully diluted earnings per common share of $2.19 last year.
    For the fourth quarter of fiscal 1992, the company reported net sales of $1.400 billion, a decrease of 0.4 percent compared with net sales of $1.405 billion for the same period of the prior year.  Fourth quarter net earnings reached $13.6 million, an increase of 18.5 percent compared with net earnings of $11.5 million the year before.  Primary earnings per common share for the quarter were 60 cents, an increase of 20.0 percent compared with primary earnings per common share of 50 cents the previous year.  Fully diluted earnings per common share were 57 cents, an increase of 18.8 percent compared with fully diluted earnings per common share of 48 cents last year.
    Commenting on the year, Wetterau stated, "Although we have not yet solved all of our operational problems and we continue to anticipate some difficult periods ahead, we were pleased to be able to report modest progress for the year."  He stressed that difficulties with business consolidation, soft markets and the absorption of new business still pose short-term challenges.
    "Our outlook for the future continues to be positive as we carefully position our company to take advantage of the changing dynamics of our industry," he concluded.
              WETTERAU INCORPORATED AND SUBSIDIARIES
                       Operating Highlights
                                   13 weeks ended               Percent
                                3/28/92      3/30/91            change
    Net sales             $1,399,606,000 1,405,120,000           (0.4)
    Earnings before
      income taxes            21,697,000    18,303,000           18.5
    Income taxes               8,048,000     6,789,000           18.5
    Net earnings              13,649,000    11,514,000           18.5
    Dividends on preferred
      shares                     206,000       206,000
    Net earnings available
      to common shareholders  13,443,000    11,308,000           18.9
    Weighted average number
      of common shares outstanding
      Primary                 22,374,000    22,507,000
      Fully diluted           25,632,000    25,801,000
    Earnings per common share
      Primary                        .60           .50           20.0
      Fully diluted                  .57           .48           18.8
    Effective tax rate
     (as a percent)                 37.1          37.1
                                  52 weeks ended                 Percent
                               3/28/92       3/30/91             change
    Net sales             $5,712,463,000 5,666,826,000            0.8
    Earnings before
      income taxes            84,419,000    83,418,000            1.2
    Income taxes              32,768,000    32,329,000            1.4
    Net earnings              51,651,000    51,089,000            1.1
    Dividends on preferred
      shares                     824,000       824,000
    Net earnings available
      to common shareholders  50,827,000    50,265,000            1.1
    Weighted average number
      of common shares outstanding
      Primary                 22,495,000    22,545,000
      Fully diluted           25,752,000    23,544,000
    Earnings per common share
      Primary                       2.26          2.23            1.3
      Fully diluted                 2.15          2.19           (1.8)
    Effective tax rate
     (as a percent)                 38.8          38.8
    -0-                                5/15/92
    /CONTACT:  Dick N. Dalton, senior vice president-communications and strategic planning, 314-595-4757, or Ronald S. Humiston, 314-595-1750, both of Wetterau/
    (WETT) CO:  Wetterau Incorporated ST:  Missouri IN:  FOD SU:  ERN TS -- NY055 -- 0720 05/15/92 11:52 EDT
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Publication:PR Newswire
Date:May 15, 1992
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