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WINDMERE REPORTS FOURTH QUARTER AND 1991 RESULTS; NEW OEM SALES CONTRACT FOR MANUFACTURING SUBSIDIARY

 WINDMERE REPORTS FOURTH QUARTER AND 1991 RESULTS;
 NEW OEM SALES CONTRACT FOR MANUFACTURING SUBSIDIARY
 MIAMI LAKES, Fla., Feb. 20 /PRNewswire/ -- Windmere Corporation (NYSE: WND) today reported fourth quarter earnings of $1.1 million or $.07 per share, as compared with losses of $3.5 million or ($.22) per share recorded in the fourth quarter of 1990. Fourth quarter sales were $47.5 million, an increase of 20 percent from the $39.7 million recorded for the same period last year.
 The company reported 1991 losses of $9.5 million or ($.59) per share, as compared with losses of $3.7 million or ($.23) per share reported for 1990. Sales in 1991 were $141.6 million, a decrease of 9 percent from the $154.9 million recorded last year.
 David M. Friedson, president and chief executive officer, commenting on the company's operating results, said, "We are encouraged by the progress the company has demonstrated during the past two quarters."
 The company's manufacturing subsidiary has concluded a contract to produce electric fragrance units for a major distributor of room freshener products that could significantly add to the factory's OEM sales if the product is successful.
 Windmere is a leading manufacturer and distributor of personal care products and other merchandise for the home and professional salons, including hairdryers, curling irons, kitchen appliances, and dental care appliances.
 WINDMERE CORPORATION
 Operating Results
 Three months ended Dec. 31 1991 1990
 Sales $47,528,000 $39,689,000
 Net earnings (loss) after taxes
 and before minority interest 1,117,000 (3,175,000)
 Minority interest (48,000) (361,000)
 Net earnings (loss) $ 1,069,000 $(3,536,000)
 Average common shares and
 equivalents outstanding 16,501,208 16,123,156
 Net earnings (loss) per share $.07 $(.22)
 Year ended Dec. 31 1991 1990
 Sales $141,603,000 $154,859,000
 Net earnings (loss) after taxes
 and before minority interest (11,135,000) (4,385,000)
 Minority interest 1,647,000 657,000
 Net earnings (loss) $ (9,488,000) $ (3,728,000)
 Average common shares and
 equivalents outstanding 16,119,870 15,876,720
 Net earnings (loss) per share $(.59) $(.23)
 -0- 2/20/92
 /CONTACT: John Heinlein, assistant treasurer of Windmere, 305-362-2611; or Gerard W. Coffey of G.A. Kraut Company, 212-696-5600, for Windmere/
 (WND) CO: Windmere Corporation ST: Florida IN: HOU SU: ERN


GK-OS -- NY018 -- 0837 02/20/92 10:13 EST
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Publication:PR Newswire
Date:Feb 20, 1992
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