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WHITMAN REPORTS EARNINGS

 WHITMAN REPORTS EARNINGS
 CHICAGO, July 15 /PRNewswire/ -- Whitman Corp. (NYSE: WH) today


issued the following statement of earnings:
 Whitman Corp. set records for both income and earnings per share from continuing operations for the second quarter and the first six months of 1992.
 Second Quarter Results
 For the second quarter, net income increased to $25.4 million, or 24 cents a share, up 9.1 percent from 22 cents a share last year, when net income totaled $23.4 million. Sales totaled $609.2 million, about level with the second quarter a year ago.
 Bruce S. Chelberg, chairman and chief executive officer, said, "Our operating companies performed very well in light of generally weak economic conditions, poor weather in our major markets, and aggressive price competition. We continued to generate strong positive cash flow which enables us to carry out our strategic plan to reduce debt and invest in the growth of our businesses."
 Operating Company Results
 In the second quarter, Pepsi-Cola General Bottlers reported operating earnings up more than four percent to $41.2 million despite competitive pressures and cold weather in the Midwest which depressed industry sales. Midas reported operating earnings of $22.4 million, down from $23.9 million last year, as a result of the lingering recession in the Northeast, California, and Canada which adversely affected retail sales. Hussmann reported record operating earnings, up 9.5 percent to $16.2 million, largely as a result of its ongoing program to improve productivity and margins.
 First Half Results
 For the first six months, sales totaled $1.1 billion, up 1.4 percent over last year. Income for continuing operations increased nearly 40 percent over last year to $30.7 million, or 29 cents a share, up from 21 cents in 1991.
 The company reported net income of 29 cents a share, for the first half of this year, compared with 37 cents a share last year, when Pet Incorporated was part of the company. Pet was spun off to shareholders April 1 of last year.
 -0- 7/15/92
 /CONTACT: Whitman Corporate Communications, 708-818-5000/
 (WH) CO: Whitman Corp. ST: Illinois IN: FOD SU: ERN


TS -- NY057 -- 9555 07/15/92 12:40 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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