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YORK INTERNATIONAL REPORTS FOURTH QUARTER AND FULL YEAR RESULTS

 YORK, Pa., Feb. 4 /PRNewswire/ -- York International Corporation (NYSE: YRK) today reported record sales and operating income for its fourth quarter and for the full year.
 (in thousands)
 Periods ended Year Quarter
 Dec. 31 1992 1991 1992 1991
 Sales $1,939.4 $1,652.7 $507.2 $460.9
 Income from operations 161.7 131.1 33.8 32.8
 Income before
 extraordinary items 69.3 13.0 16.6 6.5
 Earnings per share
 before extraordinary items $1.90 $0.56 $0.44 $0.21
 Sales for the quarter ended Dec. 31, 1992, were $507.2 million compared to $460.9 million for the prior year's quarter, an increase of 10 percent. Income Before Extraordinary Items was $16.6 million compared to $6.5 million for the fourth quarter of 1991. Earnings Per Share, Before Extraordinary Items, grew to $0.44 per share compared to $0.21 per share for the prior year's quarter.
 Sales for the year ended Dec. 31, 1992, were $1.94 billion compared to $1.65 billion for 1991, an increase of 17.3 percent. Income from Operations increased 23.4 percent to $161.7 million compared to $131.1 million for 1991. Income before Extraordinary Items was $69.3 million; $1.90 per share, compared to $13.0 million; $ 0.56 per share last year. Net Income for 1992 was $50.9 million; $1.40 per share compared to a loss of $4.3 million; ($0.18) per share for the prior year.
 Robert N. Pokelwaldt, York's chairman, president and chief executive officer, said, "1992 was a challenging and rewarding year for our company. We continued our profitable growth in spite of weakness in worldwide economies and unusually cool temperatures in North America." Pokelwaldt added, "If we restate 1991 results on a comparable basis, the company would have reported Earnings Per Share of $1.36 for 1991. The $1.90 Earnings Per Share, Before Extraordinary Items we reported for 1992 represents a 40 percent increase over this normalized figure."
 York International is a full-line, global manufacturer of heating, ventilating, air conditioning and refrigeration products. York is the largest independent supplier of HVAC&R products 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 over 12,000 employees worldwide.
 YORK INTERNATIONAL CORPORATION AND SUBSIDIARIES
 Consolidated Statements of Operations
 (In thousands, except per-share data)
 Periods ended Year Quarter
 Dec. 31 1992 1991 1992 1991
 Net Sales $1,939,397 $1,652,712 $507,242 $460,858
 Cost of Goods Sold 1,507,783 1,271,545 400,611 355,444
 Gross Profit 431,614 381,167 106,631 105,414
 S G & A Expenses 257,635 233,389 69,784 69,567
 Restructuring Charge --- 2,730 --- ---
 Income from Operations
 Before Purchase
 Accounting Amortization 173,979 145,048 36,847 35,847
 Purchase Accounting Amortization 12,306 13,988 3,077 3,077
 Income from Operations 161,673 131,060 33,770 32,770
 Interest Expense, Net 39,826 96,236 5,730 18,480
 Nonrecurring Income --- --- --- ---
 Equity In Earnings of Affiliates 1,563 1,960 447 301
 Income Before Income Taxes and
 Extraordinary Items 123,410 36,784 28,487 14,591
 Provision for Income Taxes 54,153 23,796 11,908 8,101
 Income Before
 Extraordinary Items 69,257 12,988 16,579 6,490
 Extraordinary Items (18,348) (17,263) --- (17,263)
 Net Income (Loss) 50,909 (4,275) 16,579 (10,773)
 Earnings (Loss) Per
 Share of Common Stock:
 Income Before Extraordinary Items $1.90 $0.56 $0.44 $0.21
 Extraordinary Items (0.50) (0.74) --- (0.55)
 Net Income (Loss) 1.40 (0.18) 0.44 (0.34)
 Weighted Average Common Shares
 and Common Equivalents
 Outstanding (in thousands) 36,474 23,315 37,692 31,498
 YORK INTERNATIONAL CORPORATION AND SUBSIDIARIES
 Consolidated Balance Sheets
 (In thousands)
 As of Dec. 31 1992 1991
 ASSETS
 Current Assets:
 Cash and Cash Equivalents $5,125 $2,474
 Receivables 257,672 314,879
 Inventories 293,449 266,724
 Prepayments and Other Current Assets 22,689 27,590
 Total Current Assets 578,935 611,667
 Unallocated Excess of Costs
 Over Net Assets Acquired 377,113 374,450
 Investments in Affiliates 5,748 3,471
 Property, Plant and Equipment, net 190,151 185,564
 Deferred Charges and Other Assets 12,467 30,484
 $1,164,414 $1,205,636
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities:
 Notes Payable and Current
 Portion of Long-term Debt $56,305 $65,833
 Accounts Payable and Accrued Expenses 354,065 359,231
 Income Taxes 3,426 6,742
 Total Current Liabilities 413,796 431,806
 Warranties 16,175 15,850
 Deferred Income Taxes 16,357 10,643
 Long-term Debt 227,425 458,405
 Other Long-term Liabilities 35,409 35,169
 Stockholders' Equity:
 Common Stock $.005 par value;
 45,000,000 authorized;
 37,223,542 in 1992 and
 29,007,907 in 1991 issued 186 145
 Additional Paid in Capital 429,935 267,247
 Retained Earnings (Deficit) 33,993 (15,519)
 Currency Translation Adjustment (3,622) 1,904
 Treasury Stock (2,887) (14)
 Unearned Compensation (2,353) ---
 Total Stockholders' Equity 455,252 253,763
 $1,164,414 $1,205,636
 /delval/
 -0- 2/4/93
 /CONTACT: Helen S. Marsteller of York International, 717-771-7451/
 (YRK)


CO: York International ST: Pennsylvania IN: SU: ERN

MP -- PH025 -- 3166 02/04/93 16:23 EST
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Date:Feb 4, 1993
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