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WOODHEAD INDUSTRIES, INC. ANNOUNCES RECORD SALES AND SHARP RISE IN EARNINGS FOR 1992 FISCAL YEAR

 NORTHBROOK, Ill., Nov. 17 ~PRNewswire~ -- Woodhead Industries, Inc. (NASDAQ: WDHD) today reported that sales for its fiscal year ended Oct. 3, 1992, were the highest ever achieved in the company's 70-year history. Earnings rose sharply, gross profit also established an all- time high, and income from operations registered substantial improvement.
 Ale?d, chairman and CEO, stated that demand for the company's electrical products remained strong throughout the year, while sales of the company's new line of ergonomic products grew well beyond the company's expectations. The sales increases were in marked contrast to softening economies worldwide and a flat domestic market for electrical products in particular.
 Record sales of $79.5 million were 8.2 percent higher than the $73.5 million reported in fiscal 1991. Gross profit also reached a record high of $35.8 million versus $31.7 million for the prior year. Net income of $4.8 million climbed 68.6 percent above last year's $2.8 million. When adjusted for the special charge taken in the second quarter of fiscal 1991 for litigation matters, this year's net income still registered a 34.1 percent increase. Earnings per share rose to $1.42, a 61.4 percent improvement over the $.88 reported last year.
 Capital spending rose from $3.7 million in fiscal 1991 to $4.4 million in 1992. "Continuing investments in new product development, manufacturing, marketing and business systems were responsible for much of the company's success this past year," Reed stated. "Against a climate of troubled world economies, we have increased our market share and penetrated new markets. Much of this resulted from our greater volume of innovative products, faster time-to- market, and higher service levels."
 Woodhead's financial position also showed substantial gains this year. Benefiting from better purchasing and more efficient manufacturing, income from operations increased from last year's 9.7 percent of sales to 10.3 percent, and return on shareholders' equity climbed to 15.2 percent compared with 9.7 percent for the prior year. Working capital rose 23.5 percent to $14.1 million from $11.4 million, and long-term debt remained a modest $500,000. The company's cash position more than doubled to $5.2 million from $2.5 million a year ago.
 "Looking ahead to fiscal 1993, we will continue to apply the strategies for growth that have made us so successful in 1992," said Reed. "We are well-positioned to fund another year of aggressive capital programs, and all of us at Woodhead Industries are excited about the coming year's prospects for an expanded global presence, increased revenues and income, and enhanced shareholder value."
 Woodhead Industries, Inc. develops, manufactures and markets specialty electrical devicers, 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)
 13 weeks ended: 10-3-92 9-28-91 Percent
 change
 Net sales $21,064 $17,707 19.0
 Net income 1,491 855 74.4
 Earnings per common and
 common equivalent shares $0.44 $0.27 63.0
 Common and common
 equivalent shares 3,413 3,218
 Fiscal year ended: 10-3-92 9-28-91 Percent
 change
 Net sales $79,518 $73,499 8.2
 Net income 4,755 2,820 68.6
 Earnings per common and
 common equivalent shares $1.42 $0.88 61.4
 Common and common
 equivalent shares 3,346 3,205
 -0- 11~17~92
 ~CONTACT: Robert Jennings of Woodhead VP-finance and CFO of Woodhead Industries, 708-272-8181~
 (WDHD)


CO: Woodhead Industries, Inc. ST: Illinois IN: SU: ERN

SH -- NY065 -- 1929 11~17~92 14:34 EST
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Date:Nov 17, 1992
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