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WOODHEAD INDUSTRIES SECOND QUARTER NET INCOME UP 27.6 PERCENT ON RECORD SALES FOR PERIOD

 BUFFALO GROVE, Ill., April 26 /PRNewswire/ -- Woodhead Industries Inc. (NASDAQ: WDHD) today reported a 27.6 percent increase in net income for the three months ended April 3, 1993. Sales for the period rose 10.6 percent, the highest quarterly volume in the company's 71-year history.
 "This year's performance continues the strong advances achieved in fiscal 1992," said Alan Reed, chairman. "These results reflect our bold policy of capital investment in engineering and marketing that produced the company's uninterrupted growth throughout the recession and continues to outpace the current recovery," he added.
 For the latest three months, net income was $1,353,000, or $.19 per share, compared with $1,060,000 or $.16 per share for the second quarter of fiscal 1992. Sales reached $22,316,000, a 10.6 percent increase over the $20,173,000 reported for the year-ago period. The six months ended April 3, 1993, produced net income of $2,849,000, 23.8 percent greater than the $2,010,000 for the first half of fiscal 1992. Earnings per share were $.36 versus $.30, respectively. Six month sales rose 6.7 percent to $40,993,000 from $38,429,000. Per share amounts have been adjusted to reflect a 2-for-1 stock split paid in the form of a 100 percent stock dividend in March 1993.
 "Rising international activity has been an important element in our growth this year," Reed said. "Foreign sales accounted for 19.2 percent of total sales is in the second quarter, compared with 17.1 percent in the previous quarter and 18.1 percent for fiscal 1992. This increase in international revenue was principally due to the successful acquisition and integration of H.F. Vogel GmbH, a German manufacturer of specialty connectors, as well as the continued development of international markets by Advanced Interconnect, Inc., a fiscal 1991 acquisition."
 Other highlights in this quarter included a rise in gross profit margin to 44.7 percent versus 44.0 percent a year ago; an increase in operating profit from 9.1 percent to 11.2 percent, and a jump to 10.3 percent in pretax income as compared with 8.6 percent last year.
 The company's financial condition strengthened during the recent period. Assets rose 8.1 percent compared with a year ago, stockholders' equity increased 11.5 percent and working capital was $13.5 million compared with $12.3 million, a 10.3 percent increase. According to Reed, Woodhead's strong financial condition will allow it to continue to fund its research and development programs and thus continue its very successful expansion of product lines with innovative new products.
 Red also noted that two recently announced acquisitions were consummated during the past week. The acquisitions of AKAPP Electro Industie B.V., a Dutch supplier of electrical conductor bar systems, and FOCS, Inc., a Massachusetts manufacturer of custom fiber optic cable assemblies and systems, closed on April 19, 1993 and April 22, 1993, respectively.
 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.
 (Amounts in thousands except per-share numbers)
 QUARTER ENDED 4-03-93 3-28-92 Percent Change
 Net sales $22,316 $20,173 10.6
 Net income $ 1,353 $ 1,060 27.6
 Common and common
 equivalent shares 6,989 riods have been adjusted for a two-for-one sto ck split effected in the form of a 100 percent stock dividend in March 1993.
 -0- 4/26/93
 /CONTACT: Robert Jennings, VP, Finance and CFO of Woodhead Industries, 708-465-2900/
 (WDHD)


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

KD -- NY048 -- 0599 04/26/93 10:57 EDT
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Date:Apr 26, 1993
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