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WHITMAN CORP. REPORTS RESULTS

 CHICAGO, July 13 /PRNewswire/ -- Whitman Corp. set records for both income and earnings per share from continuing operations for the second quarter and the first half of 1993.
 SECOND QUARTER RESULTS
 For the second quarter, net income increased 14.6 percent to $29.1 million, or 27 cents a share, from $25.4 million, or 24 cents a share last year.
 Sales for the quarter were up 4.2 percent to a record $634.7 million.
 Bruce S. Chelberg, chairman and chief executive officer, said, "Each of our three operating companies reported increased sales and earnings in the second quarter with Pepsi-Cola General Bottlers and Hussmann both setting new records for sales and operating income. Our good performance in the second quarter means that we continue to be on track for a very good year in 1993."
 OPERATING COMPANY RESULTS
 Pepsi-Cola General Bottlers had record operating earnings of $44.2 million, up 7.3 percent from last year's earnings of $41.2 million. Pepsi General's results reflect the benefit of lower costs, improved weather, and the success of its new products.
 Midas International reported earnings of $23.7 million, up 5.8 percent from last year's earnings of $22.4 million, largely on the strength of its new advertising and marketing programs and increased retail sales, particularly in the Northeast section of the United States. However, in California and in some other areas of the country where Midas has a significant concentration of dealerships, sales continued to be soft because of depressed regional economic conditions.
 Hussmann Corp. reported record earnings of $17.3 million, up 6.8 percent from last year's earnings of $16.2 million. Hussmann continues to benefit from strong demand in the United States and Mexico and its ongoing efforts to improve productivity and margins.
 FIRST HALF RESULTS
 For the first six months, sales and revenues totaled $1,157.2 million, up 4.5 percent over last year.
 Income from continuing operations increased 22.1 percent over last year to $37.5 million, or 35 cents a share, up from $30.7 million, or 29 cents a share in 1992.
 However, net income for the first six months declined to $13.5 million, or 13 cents a share, reflecting the impact of SFAS No. 106 relating to post retirement benefits, which the company adopted in the first quarter.
 -0- 7/13/93
 /CONTACT: Whitman Corp., corporate communications, of Whitman Corp., 708-818-5000/
 (WH)


CO: Whitman Corp. ST: Illinois IN: FOD SU: ERN

LR -- NY043 -- 0882 07/13/93 12:15 EDT
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Publication:PR Newswire
Date:Jul 13, 1993
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