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ZEMEX CORPORATION ANNOUNCES FOURTH QUARTER RESULTS

 ASHEVILLE, N.C., Feb. 25 /PRNewswire/ -- Zemex Corporation today issued the following statement of earnings:
 ZEMEX CORPORATION
 STATEMENT OF EARNINGS
 FOURTH QUARTER AND YEARS 1992 AND 1991
 (000's except per shares)
 1992 1991
 FOURTH YEAR FOURTH YEAR
 QTR QTR
 Operating revenue $9,687 $38,593 $8,597 $34,854
 Net Income (Loss) 57 161 (2,918) (3,693)
 Net Income (Loss)
 Per Share .02 .06 (1.10) (1.40)
 Average Common
 Shares
 Outstanding(A) 2,740,992(A) 2,646,759(A) 2,646,759(A) 2,646,759(A)
 (A) Reflects Stock Dividend issued on December 23, 1992.
 Mr. Gerard E. Wood, President and CEO of Zemex Corporation reported today that the Company had net income of $161,000 in the year ended Dec. 31, 1992 and net income of $57,000 in the fourth quarter. This is a major improvement compared with net losses recorded in 1991 of $3,693,000 for the full year, and $2,918,000 in the fourth quarter. Improved sales volumes and cost controls at industrial minerals operations and growth in sales and profitability at metal powders operations were the major factors causing the improvement, continuing the trend reported to shareholders during each quarter of the year.
 The outlook is for further growth in sales revenues and profitability in 1993, particularly in metal powders, due to increased sales of Pyron Corporation's atomized steel and nonferrous products.
 The 1991 financial results included $1,890,000 of one-time charges for the closing of the Connecticut industrial minerals plant, the write-down of the Corporation's investment in Sierra Mining Company, Ltd., cost associated with the start-up of the Corporation's new atomized steel plant located in Niagra Falls, N.Y. and a charge for reorganization expenses.
 Zemex Corporation is a diversified industrial minerals and materials company, producing and marketing nonmetallic minerals, ferrous and nonferrous metal powder and tin ores, which supply a wide range of industries.
 (sig)
 Robert W. Morris
 Vice President
 Secretary and Treasurer
 (704) 255-4900
 -0- 2/25/93
 /CONTACT: Robert W. Morris, Vice President, Secretary and Treasurer, Zemex Corporation, 704-255-4900/


CO: Zemex Corporation ST: North Carolina IN: MNG SU: ERN

DF-MM -- CH011 -- 0408 02/25/93 13:05 EST
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Publication:PR Newswire
Date:Feb 25, 1993
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