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YORK INTERNATIONAL REPORTS FOURTH QUARTER AND FULL YEAR RESULTS

           YORK INTERNATIONAL REPORTS FOURTH QUARTER
                      AND FULL YEAR RESULTS
    YORK, Pa., Feb. 12 /PRNewswire/ -- York International Corporation (NYSE: YRK) today reported record sales and operating income for its fourth quarter and for the full year.
    Sales for the quarter ended December 31, 1991, were $460.9 million compared to $356.5 million for the prior year's quarter, an increase of 29.3 percent.  Income from Operations before purchase accounting amortization and restructuring charges was $35.8 million compared to $30.8 million for the fourth quarter of 1990, an increase of 16.2 percent.  Income before extraordinary items was $6.5 million or $.21 per share, as compared to a loss of $2.3 million or ($.11) per share for the fourth quarter of 1990.  After adjusting for an extraordinary charge relating to the repayment and refinancing of debt, the company reported a net loss of $10.8 million or ($.34) per share for the fourth quarter of 1991.  There were no extraordinary items during the fourth quarter of 1990.
    Sales for the year ended December 31, 1991 were $1.65 billion compared to $1.45 billion for 1990, an increase of 14 percent.  Income from Operations before purchase accounting amortization and restructuring charges was $147.8 million for 1991, compared to $136.6 million for the prior year.  Income before extraordinary items was $13 million or $.56 per share compared to $4.1 million or $.20 per share last year.  In 1991 an extraordinary charge of $17.3 million or ($.74) per share was recognized, representing costs incurred in connection with the repayment and refinancing of debt.  In 1990 the company recognized, as an extraordinary credit, an $8.8 million or $.44 per share benefit from the utilization of the tax loss carry forward of prior year operating losses.  The inclusion of these items resulted in a net loss of $4.3 million or ($.18) per share for 1991, and net income of $12.8 million or $.64 per share for 1990.
    "In spite of a soft domestic economy, York International achieved record operating results in 1991," said Robert N. Pokelwaldt, York's president and chief executive officer.  "We increased market share in every area of our worldwide business by providing cost-effective solutions to the needs of our varied customer base."
    Pokelwaldt added: "After giving estimated effect for the use of proceeds from our initial public offering in October and the related refinancing and restructuring of our debt, the company would have reported earnings per share of $.32 for the fourth quarter and $1.30 per share for all of 1991."
    York International Corporation is a full-line, global manufacturer of heating, ventilating, air conditioning and refrigeration products. York is the third-largest HVACR manufacturer in the United States and a leading competitor in the industry internationally.  The company's products are sold in more than 100 countries and York has 11,500 employees worldwide.
                 YORK INTERNATIONAL CORPORATION
                     Selected Financial Data
               ($ in 000s, except per share data)
                           (Unaudited)
                          Three Months Ended            Year Ended
                             December 31                December 31
                          1991        1990           1991        1990
    Net Sales        $ 460,858   $ 356,488    $1,652,712  $1,448,916
    Cost of Goods Sold  355,444     270,944     1,271,545   1,110,139
    Gross Profit        105,414      85,544       381,167     338,777
    Selling, General &
     Admin. Expense      69,567      54,739       233,389     202,176
    Income from Operations
     Before Purchase Acctg.
     Amortization        35,847      30,805       147,778     136,601
    Restructuring Charge      0           0         2,730           0
    Purchase Acctg. Amort.
                          3,077       3,637        13,988      14,548
    Income from Operations
                         32,770      27,168       131,060     122,053
    Interest Expense     18,480      25,900        96,236     108,266
    Nonrecurring Income       0           0             0       9,691
    Equity in Earnings of
     Affiliates             301       1,247         1,960       3,790
    Income Before
     Income Taxes and
     Extraord. Items     14,591       2,515        36,784      27,268
    Provision for
     Income Taxes         8,101       4,777        23,796      23,192
    Income (Loss) Before
     Extraord. Items      6,490      (2,262)       12,988       4,076
    Extraord. Items     (17,263)          0       (17,263)      8,762
    Net Income (Loss)  ($10,773)    ($2,262)      ($4,275)    $12,838
    Earnings (Loss) Per
     Share of Common Stock:
     Income (Loss) Before
     Extraordinary Items  $0.21      ($0.11)        $0.56       $0.20
    Extraordinary Items   (0.55)       0.00         (0.74)       0.44
    Net Income (Loss)    ($0.34)     ($0.11)       ($0.18)      $0.64
    Weighted Average Common
     Shares Outstanding
     (in thousands)      31,498      20,088        23,315      20,088
                  -0-          2/12/92 R
    /CONTACT: Dean T. DuCray of York International Corporation, 717-771-7461/
    (YRK) CO:  York International Corporation ST:  Pennsylvania IN: SU:  ERN KD -- NY021 -- 9451 02/12/92 17:28 EST
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Date:Feb 12, 1992
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