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ZURN ANNOUNCES SECOND QUARTER EARNINGS

 ZURN ANNOUNCES SECOND QUARTER EARNINGS
 ERIE, Pa., Oct. 21 /PRnewswire/ -- Zurn Industries Inc. (NYSE: ZRN),


a leading designer and manufacturer of power systems and equipment, and water control products for environmental applications, announced today that net income for the quarter ended Sept. 30, 1992, was $6,234,000 (50 cents per share) compared to last year's $6,480,000 (51 cents per share), which included an 11-cents-per-share gain from the sale of a business. Sales for the quarter were $177,520,000, compared to last year's $129,968,000.
 For the first six months, net income was $11,869,000 (95 cents per share) compared to last year's $12,665,000 ($1.00 per share) before accounting changes and net loss after accounting changes of $4,069,000 (33 cents per share). Revenues were $320,764,000, up from $268,433,000 in last year's first six months.
 Orders backlog at Sept. 30, 1992, was $464,000,000, up from $410,000,000 at the end of the first quarter, and $345,000,000 a year ago.
 Power systems second quarter sales of $94.9 million were more than double last year's level and up 62 percent for the six months. Three orders for power plant projects totaling $140 million were received in the quarter, bringing the orders backlog at Sept. 30, to a record high of $336 million compared to $210 million a year earlier.
 Water control sales of $63.9 million for the second quarter were 11 percent below the prior year, and for the six months, were $122.4 million, down 13 percent from the same period a year earlier. Water control backlog at Sept. 30, was $106 million compared to $113 million a year earlier.
 Lynx Golf second quarter sales were $7.8 million compared to $4.3 million last year, and for the six months were $21.2 million, more than double the prior year.
 Chairman George H. Schofield noted that "While markets for our industrial products remain flat, the markets for both power systems and water resources construction are very encouraging." Schofield added that "Major new orders recently received by both businesses solidly support our growth objectives."
 -0- 10/21/92
 /CONTACT: Steve Adams of Zurn Industries, 814-452-2111/
 (ZRN) CO: Zurn Industries Inc. ST: Pennsylvania IN: OIL SU: ERN


ML-TM -- PG021 -- 3185 10/21/92 18:03 EDT
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Publication:PR Newswire
Date:Oct 21, 1992
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