Eastern Stainless Corp.

BY THE NUMBERS

August 13, 1992

Revenues for this Baltimore-based stainless-steel operation, which has a plant in Baltimore County, dropped more than 25 percent during the second quarter because of falling prices and sagging sales. The company also stopped making stainless steel sheet last year.

However, the local plant's losses were reduced because of increases in productivity and efficiency, the company said.

"We are cautiously optimistic that our markets will improve later in the year as the economy continues it gradual recovery," President Robert C. Rubino said.

Eastern Stainless is a majority-owned subsidiary of Armco Inc., a steel company based in Parsippany, N.J.

The local plant is part of Armco's flat-rolled steel business.

Three months ended 6/30/92

.. .. .. Revenue .. .. .. .. Net .. .. .. Share*

'92 . ..34,619,000 .. ..(1,194,000) ... --

'91 . ..46,899,000 .. ..($2,063,000) .. --

% change .. . -26.2 .. .. .. .. .. -- ... --

Six months ended 6/30/92

.. .. .. Revenue .. .. .. .. Net .. .. .. Share*

'92 . ..69,300,000 .. ..(1,780,000) ... --

'91 . ..90,461,000 .. ..(1,992,000) ... --

% change .. . -23.4 .. .. .. .. .. -- ... --

* Earnings per share were not provided because 84 percent of stock is owned by Armco Inc.

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