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WINDMERE CORPORATION ANNOUNCES THIRD QUARTER RESULTS

 MIAMI LAKES, Fla., Oct. 26 /PRNewswire/ -- Windmere Corporation (NYSE: WND) announced today a net profit for the third quarter of $4.2 million or $.26 per share. This compares with a net profit of $2.0 million or $.12 per share reported for the third quarter a year ago, after a pre-tax non-recurring $4.3 million loss. Sales for the third quarter were $53.4 million, approximately 8 percent higher than the sales of $49.6 million reported for the third quarter of 1992.
 For the nine months ended Sept. 30, 1993, the company reported a profit of $7.5 million or $.47 per share, compared to a profit of $30.6 million or $1.86 per share which included an extraordinary gain of $29.7 million and pre-tax non-recurring losses of $5.4 million for the same period last year. The nine month 1993 earnings results include a one-time cumulative benefit of $1.7 million, or $.1l per share, arising from the adoption on Jan. 1, 1993 of a now accounting standard (SFAS 109 "Accounting for Income Taxes"). Sales for the nine months were $128.7 million, which is 3 percent higher than the sales of $124.9 million recorded a year ago.
 David M. Friedson, president and chief executive officer, said, "The company's sales increase in the third quarter was due to growth in its consumer personal care distribution businesses, which was partially offset by lower factory OEM product shipments. Fourth quarter sales results will be influenced by the relative strength or weakness of the retail sales environment."
 Windmere Corporation is a leading manufacturer and distributor of personal care products and other merchandise for the home and professional salons, including hair dryers, curling irons, kitchen appliances and dental care appliances.
 WINDMERE CORPORATION
 Earnings Results
 (Unaudited)
 Three Months Ended Sept. 30 1993 1992
 Sales $53,403,300 $49,579,500
 Net earnings after taxes and before
 minority interest 4,776,100 2,413,200
 Minority interest (574,600) (408,900)
 Net earnings 4,201,500 2,004,300
 Net earnings per share $.26 $.12
 Average common shares and
 equivalents outstanding 16,241,400 16,644,500
 Nine Months Ended Sept. 30 1993 1992
 Sales $128,691,800 $124,866,800
 Net earnings after taxes and before
 minority interest, cumulative effect
 of accounting change and extraordinary
 item 6,516,000 1,705,700
 Minority interest (704,300) (743,900)
 Cumulative effect of accounting change 1,731,100 --
 Extraordinary item -- 29,648,800
 Net earnings 7,542,800 30,610,600
 Net earnings per share:
 Before extraordinary item and cumulative
 effect of accounting change $.36 $.04
 Cumulative effect of accounting change .11 --
 Extraordinary item -- 1.82
 Total $.47 $1.86
 Average common shares and
 equivalents outstanding 16,143,700 16,442,700
 -0- 10/26/93
 /CONTACT: John Heinlein, treasurer of Windmere Corporation, 305-362-2611, or Steven J. Barach of G.A. Kraut, 212-696-5600/
 (WND)


CO: Windmere Corporation ST: Florida IN: HOU SU: ERN

WB-PS -- NY028 -- 6803 10/26/93 10:21 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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