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YEAR-TO-DATE RESULTS UP AT WICOR

 MILWAUKEE, Oct. 26 /PRNewswire/ -- Earnings at WICOR Inc. (NYSE: WIC), for the nine months ending Sept. 30 were $15.9 million, up from $9.7 million for the same period before accounting changes in 1992. Per-share earnings increased 57 percent to 99 cents per share.
 The announcement was made by Stuart W. Tisdale, WICOR's chairman and chief executive officer. WICOR is the Milwaukee-based parent of Wisconsin Gas Company, Sta-Rite Industries, Inc. and SHURflo Pump Manufacturing Co.
 (All results have been restated to reflect WICOR's July 1993 acquisition of SHURflo as a pooling of interests.)
 Tisdale attributed WICOR's year-to-date gains to continuing sales growth at WICOR's manufacturing subsidiaries and the gas company's good first-quarter performance.
 "Our year-to-date performance also shows the results of continuing efforts to improve productivity, increase profitability and control costs," Tisdale said.
 For the third quarter of 1993, WICOR reported a loss of $8.6 million or 53 cents per share, about level with the period a year ago. Because Wisconsin Gas Company's sales are at their lowest during the summer, the third quarter normally is a loss period for WICOR, Tisdale said.
 WICOR's manufacturing operations posted quarterly earnings of $2.1 million, a 75-percent increase over the same period last year. Tisdale said improved domestic market conditions and strong sales in European markets helped boost Sta-Rite's earnings, while SHURflo's sales to recreational vehicle, marine and industrial markets were up substantially from the prior period.
 Wisconsin Gas reported a third-quarter loss of $10.7 million, compared with a loss of $9.5 million a year ago. Tisdale attributed the decline primarily to differences in the timing of revenue and expenses related to items such as post-retirement benefits, uncollectible accounts and depreciation of the utility's expansion projects. He noted that higher revenues in 1993 reflect increases in the cost of natural gas, which have no impact on earnings.
 DIVIDEND DECLARED
 The WICOR Board of Directors declared a regular quarterly dividend of 39 cents per share of WICOR common stock. The annual rate is $1.56. The dividend is payable Nov. 30, 1993, to shareholders of record on Nov. 10, 1993.
 WICOR is a Milwaukee-based holding company. Its subsidiaries are Wisconsin Gas Company, the state's largest distributor of natural gas; Sta-Rite Industries, Inc., an international manufacturer of pumps and water processing equipment; and SHURflo Pump Manufacturing Co., a leading manufacturer of fluid-handling pumps and products.
 WICOR, INC. AND SUBSIDIARIES
 Unaudited Quarterly Results
 (Revenues/Income in $ millions)
 QUARTER ENDED YEAR-TO-DATE
 Sept. 30 Sept. 30
 Operating Revenues 1993 1992 1993 1992
 Gas Distribution $ 81.8 $ 59.9 $ 399.6 $ 327.1
 Manufacturing 71.0 65.4 216.1 196.0
 WICOR $ 152.8 $ 125.3 $ 615.7 $ 523.1
 Net Income 1993 1992 1993 1992
 Gas Distribution $ (10.7) $ (9.5) $ 7.7 $ 4.5
 Manufacturing 2.1 1.2 8.2 5.2
 WICOR $ (8.6) $ (8.3) $ 15.9 $ 9.7
 Net Income (after
 Accounting Changes) 1993 1992 1993 1992
 Gas Distribution $ (10.7) $ (9.5) $ 7.7 $ 4.5
 Manufacturing 2.1 1.2 8.2 (2.7)
 WICOR $ (8.6) $ (8.3) $ 15.9 $ 1.8
 Average Shares Outstanding
 (thousands) 16,173 15,495 16,013 15,449
 WICOR Earnings per
 Common Share $(0.53) $(0.53) $0.99 $0.63
 WICOR Earnings per
 Common Share $(0.53) $(0.53) $0.99 $0.12
 (after accounting changes)
 -0- 10/26/93
 /CONTACT: (Media) Kathleen Sieja, 414-291-6950, or (Analysts) John Hoy, 414-291-6568, both of WICOR, Inc./
 (WIC)


CO: WICOR, Inc. ST: Wisconsin IN: UTI OIL SU: ERN

JG -- DE031 -- 6872 10/26/93 14:38 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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