|Standex Announces First Quarter Earnings|
| SALEM, NH, October 21, 1998. . . Standex
International Corporation (NYSE:SXI)
reported today that, for the first quarter ended September 30, 1998 of 61 cents per
share (diluted) compared to 58 cents per share in the previous year.
Net income for the quarter was $8.0 million on sales of $157.4 million compared with net earnings of $7.7 million on sales of $141.1 million in the prior year. Per share earnings for the current quarter were based on 13.1 million diluted average shares outstanding.
In announcing the results, Edward J. Trainor, President and CEO stated, "We are pleased to see the continuing quarterly sales and earnings improvements over the similar period last year which reflects a positive trend that has occurred over the past six quarters. Sales reached record levels for any first quarter in the Corporation's history, due primarily to the added sales from the ACME Manufacturing Company which was acquired in early October, 1997. Our backlogs remain up significantly throughout most of the Corporation. Barring unforeseen disruptions that may result from the mounting worldwide economic volatility, we continue to expect a strong fiscal year 1999." The immediately preceding statement is "forward-looking" and is necessarily dependent upon uncertainties in the economy, competitive pricing pressures and market demand.
Standex International Corporation, with sales for the fiscal year ended June 30, 1998 of $616 million and operations in the United States, Western Europe, Canada, Australia, Singapore and Mexico, is a multi-industry manufacturer in three broad business segments: Food Service, Industrial Products and Consumer Products.