Robertson-Ceco reports first quarter results of operations.

BOSTON--(BUSINESS WIRE)--May 12, 1995--Robertson-Ceco Corp. today reported income from continuing operations in the first quarter of 1995 of $0.6 million or $0.04 per share, on revenues of $69.7 million.

This compares to a first quarter 1994 loss from continuing operations of $6.6 million,

or $.42 per share, on revenues of $62.5 million. The 1994 operating results include revenues and losses from continuing operations of $6.4 million and $2.8 million, respectively, related to the Cupples Products Division which has been sold and the company's remaining European Building Products Operations which are currently held for sale. The 1995 operating results exclude the results of the Cupples Products Division and the European Building Products Operations. The company reported net income of $4.5 million or $0.28 per share for the first quarter of 1995 compared with a net loss of $5.5 million or $0.35 per share in 1994. As previously announced, on March 3, 1995, the company sold its Concrete Construction Division and, as a result, all operating results for previously reported periods have been reclassified to reflect the Concrete Division as a discontinued operation. Net income for the first quarter of 1995 includes income from discontinued operations of $4.0 million including a $3.5 million gain from the sale of the Concrete Division. Net income for the first quarter of 1994 includes income from discontinued operations of $1.1 million, including a $1.2 million credit resulting from the settlement of backcharge and other claims arising out of a project which was substantially complete in 1989.

Michael E. Heisley, chief executive officer, commented by saying, "The first quarter operating results are encouraging. On a pro forma basis, excluding the effect of the operating results of the sold Cupples Division and the European Operations which are held for sale, the company's revenue and income from continuing operations increased in the first quarter of 1995 by $13.6 million and $4.3 million, respectively, over revenues and income from continuing operations for the same period in 1994. However, the Company anticipates that demands on liquidity and credit resources will continue to be significant throughout 1995 and the next several years as a result of funding requirements for non-recurring cash obligations and trailing liabilities associated with sold and discontinued businesses."

Headquartered in Boston, Robertson-Ceco Corp. provides commercial and industrial construction products and services worldwide. Products and services include the design, manufacture and installation of pre-engineered metal buildings, industrial cladding and roofing profiles, and architectural wall panels.

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                     ROBERTSON-CECO CORPORATION
            CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
                             (UNAUDITED)
             (Amounts in thousands, except per share data)

                            Three Months Ended
                                March 31,
                            1995         1994

Revenues                $  69,719      $ 62,490
Cost and Expenses:
 Cost of Sales             59,285        56,663
 Selling, General
   and Administrative       9,014        10,590
 Restructuring Expense          -           900
    Total                  68,299        68,153

Operating Income (Loss)     1,420        (5,663)
Other Income (Expense):
 Interest Expense          (1,116)       (1,128)
Other Income
  (Expense), Net              319           289
     Total                   (797)         (839)

Income (Loss) before
 Provision for Taxes on
  Income                      623        (6,502)
 Provision for Taxes on
  Income                       51            60
 Net Income (Loss) -
  Continuing Operations       572        (6,562)
 Income from Discontinued
  Operations                  505         1,051
Gain on Sale of Business
 Segment                    3,450             -

Income from Discontinued
 Operations                 3,955         1,051

 Net Income (Loss)       $  4,527      $ (5,511)

Net Income (Loss) per
 Common Share:
  Continuing Operations  $    .04      $   (.42)
  Discontinued Operations     .24           .07
Net Income (Loss)        $    .28      $   (.35)

Weighted Average Number
 of Common Shares
 Outstanding               16,123        15,773

CONTACT: Robertson-Ceco Corp., Boston

John C. Sills, 617/424-5500