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WTD REPORTS FOURTH-QUARTER, ANNUAL RESULTS, CHAPTER 11 DEVELOPMENTS

WTD REPORTS FOURTH-QUARTER, ANNUAL RESULTS, CHAPTER 11 DEVELOPMENTS
 PORTLAND, Ore., June 25 /PRNewswire/ -- WTD Industries Inc. (NASDAQ: WTDQC) today reported results for both the quarter and the full fiscal year ended April 30, 1992.
 For the fourth quarter ended April 30, 1992, WTD reported net income of $2.93 million, or 47 cents per share. These results compared with net income of $1.7 million, or 27 cents per share, for the quarter ended April 30, 1991. Sales were $64.2 million for the quarter ended April 30, 1992, up 75 percent from the fourth quarter of 1991.
 For the year ended April 30, 1992, WTD reported net income of $2.99 million, or 48 cents per share. Sales were $213.9 million for the year, down 12 percent from last year. WTD reported a net loss of $85.2 million, or $13.67 per share, for the year ended April 30, 1991, which included reorganization charges of $58.0 million taken in connection with the company's Chapter 11 filing on Jan. 30, 1991.
 WTD also today reported that Judge Samuel J. Steiner, presiding over the Chapter 11 reorganization proceedings of WTD, ruled that creditor groups have until July 20, 1992, to file any competing plans and disclosure statements, and that on Aug. 10, 1992, a hearing will be held to approve any additional disclosure statements and establish a plan confirmation hearing schedule.
 WTD INDUSTRIES INC.
 FINANCIAL HIGHLIGHTS
 (Unaudited, in thousands, except per-share amounts)
 Three Month Year
 Ended April 30: 1992 1991 1992 1991
 Net sales $64,158 $36,712 $213,896 $243,931
 Cost of sales 57,268 30,977 195,386 250,468
 Gross profit (loss) 6,890 5,735 18,510 (6,537)
 Selling, general and
 administrative expenses 3,115 3,288 12,047 20,957
 Reorganization charges 723 500 3,272 58,000
 Operating income (loss) 3,052 1,947 3,191 (85,494)
 Other income (expense):
 Interest expense (21) (135) (235) (10,197)
 Miscellaneous (102) (6) 36 589
 Total (123) (141) (199) (9,608)
 Income (loss) before
 income taxes 2,929 1,806 2,992 (95,102)
 Provision for income
 taxes (benefit) 1,142 105 1,167 (9,950)
 Income (loss) before
 extraordinary item 1,787 1,701 1,825 (85,152)
 Extraordinary item - income
 tax benefit of net operating
 loss carryforward 1,143 -- 1,167 --
 Net income (loss) $ 2,930 $ 1,701 $ 2,992 $(85,152)
 Net income (loss) per
 common share:
 Before extraordinary
 item $ 0.28 $ 0.27 $ 0.29 $ (13.67)
 Extraordinary item 0.19 -- 0.19 --
 Net income (loss) $ 0.47 $ 0.27 $ 0.48 $ (13.67)
 Average number of shares
 outstanding 6,229 6,229 6,229 6,229
 -0- 6/25/92
 /CONTACT: Robert J. Riecke of WTD Industries, 503-246-3440/
 (WTDQC) CO: WTD Industries ST: Oregon IN: PAP SU: ERN


SC-LM -- SE014 -- 4032 06/25/92 19:01 EDT
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Date:Jun 25, 1992
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