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WOODHEAD INDUSTRIES' NET INCOME JUMPS 30 PERCENT ASSISTED BY RECORD THIRD QUARTER SALES

 WOODHEAD INDUSTRIES' NET INCOME JUMPS 30 PERCENT
 ASSISTED BY RECORD THIRD QUARTER SALES
 NORTHBROOK, Ill., July 15 /PRNewswire/ -- Woodhead Industries, Inc. (NASDAQ: WDHD), maker of specialty electrical devices and ergonomic workstations, today reported that net income for the three months ended June 27 rose 29.8 percent over the third fiscal quarter of 1991. Sales for the current period increased 6.7 percent to the highest level for any third quarter in the company's history.
 "Historically, the third quarter is a weaker period," said Alan Reed, chairman. "But sustained investments in engineering and marketing, even in the face of the recession, have produced extended strength in our sales, running almost five percent ahead of our fiscal 1991 pace through the first nine months."
 For the three months ended June 27, 1992, net income was $1,254,000, or 38 cents per share. Sales of $20,025,000, were exceeded only by the preceding quarter's record of $20,173,000. For the comparable period a year ago, net income was $966,000, or 30 cents per share, on sales of $18,761,000. Gross margins reached 44.3 percent, up from 43.8 percent, and net income as a percent of sales rose to 6.3 percent from 5.1 percent.
 For the first nine months of the fiscal year, sales reached an all time high of $58,454,000, up from $55,792,000 for the same period last year. Net income for the first nine months reached $3,264,000, or $1.00 per share, a 66 percent increase over the $1,965,000, or 61 cents per share, reported for the prior year.
 Reed attributed the substantial gain in nine month profits to higher volume, improved productivity, and the absence of the 23 cent per share charge for litigation reserves and expenses incurred in the first half of fiscal 1991. Reed also credited the increased profitability to the continuing development of higher-margin new products incorporating value-added features.
 "Woodhead's combined international sales accounted for 19.5 percent of our company's total sales this quarter, the highest percentage in the last year and a half," Reed said. "This includes a moderate volume decline in Canadian sales resulting from Canada's very soft economic climate. Despite similar recessionary conditions in Europe, both Asia and Europe are running well ahead of fiscal 1991 for the year to-date and were up over 50 percent in the third quarter."
 The company's financial condition continued to strengthen in the quarter. Working capital rose 16.8 percent to $13 million, stockholders' equity was nearly 12 percent higher, long-term debt remained nominal at only $500,000, and assets increased 11 percent over the year-ago period.
 Woodhead Industries, Inc. develops, manufactures, and markets specialty electrical devices, custom cable assemblies, motion control products, and ergonomic workstations for a broad range of industrial applications worldwide.
 WOODHEAD INDUSTRIES, INC.
 (in thousands, except per share numbers)
 Thirteen Weeks Ended Thirty-Nine Weeks Ended
 6/27/92 6/29/91 PCT. 6/27/92 6/29/91 PCT.
 CHANGE CHANGE
 Net sales $20,025 $18,761 6.7 $58,454 $55,792 4.8
 Net income 1,254 966 29.8 3,264 1,965 66.1
 Net income per
 average common
 share $ .38 $ .30 26.7 $ 1.00 $ .61 63.9
 Weighted average
 number of common
 shares outstdg. 3,281 3,207 2.3 3,256 3,199 1.8
 -0- 7/15/92
 /CONTACT: Robert G. Jennings, vice president, finance and CFO of Woodhead Industries, 708-272-8181/
 (WDHD) CO: Woodhead Industries Inc. ST: Illinois IN: SU: ERN


PS -- NY039 -- 9483 07/15/92 11:01 EDT
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Date:Jul 15, 1992
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