Graham announces results for fiscal year 1995.

BATAVIA, N.Y.--(BUSINESS WIRE)--Feb. 23, 1996--Graham Corp. (ASE:GHM) today reported results for the fiscal year ended Dec. 31, 1995 and the fourth quarter ended on the same date.

Sales for the 1995 calendar year were $49,480,000 producing income for the year from continuing operations of

Sales for the 1994 calendar year were $47,351,000 producing income for the year 1994 from continuing operations of $12,000 or 1 cent per share, a loss from discontinued operations for the period of $8,421,000 and a net loss of $8,415,000 or $8.01 per share.

Sales for the 1995 fourth quarter were $17,517,000 producing income for the quarter from continuing operations of $1,180,000 or $1.12 per share, a loss from discontinued operations of $182,000 or 17 cents per share and net income of $998,000 or 95 cents per share.

Sales for the 1994 fourth quarter were $17,598,000, producing income for the 1994 fourth quarter from continuing operations of $151,000 or 14 cents per share, a loss from discontinued operations for the period of $3,628,000 or $3.45 per share and a net loss of $3,477,000 or $3.31 per share.

New orders for the full year 1995 were $52,319,000 compared to $49,527,000 for the full year 1994. New orders for the 1995 fourth quarter were $11,661,000, compared to $11,559,000 for the 1994 fourth quarter and to $14,222,000 for the 1995 third quarter.

Consolidated backlog on Dec. 31, 1995 was $21,837,000, compared to $18,997,000 on Dec. 31, 1994.

Commenting on these results, Frederick D. Berkeley, chairman of the board and chief executive officer of Graham, said "I am pleased by the results for 1995. The Company is past the problems that led to the net loss sustained in 1994 and, as we move into 1996, is working diligently to broaden its sales coverage and further increase manufacturing efficiency."

Graham designs and manufactures vacuum and heat transfer equipment for the process industries. The principal markets for Graham's equipment are the chemical, petrochemical, petroleum refining and electric power generating industries, including co-generation and geothermal plants. Other process industry markets served include steel mills and paper mills. -0-

                 THE COMPANY'S UNAUDITED RESULTS

Quarter to December 31                     1995            1994

Sales                                17,517,000      17,598,000
Income
 Continuing operations                1,180,000         151,000
(Loss)
 Discontinued operation                (182,000)     (3,628,000)
Net income/(loss)                       998,000      (3,477,000)

SHARE EARNINGS:

Income
 Continuing operations                     1.12             .14
Loss
 Discontinued operations                   (.17)          (3.45)
Net income/(loss)                           .95           (3.31)
Shares outstanding                    1,055,000       1,051,000

Year to December 31                        1995            1994

Sales                                49,480,000      47,351,000
Income
 Continuing operations                1,316,000          12,000
Loss
 Discontinued operation                (182,000)     (8,421,000)
Net income (loss)                     1,134,000      (8,415,000)

SHARE EARNINGS:

Income
 Continuing operations                     1.25             .01
Loss
 Discontinued operations                    .17           (8.01)
Net income/(loss)                          1.08           (8.01)
Shares outstanding                    1,053,000       1,051,000

CONTACT: Graham Corp., Batavia

William A. Smith Jr., 716/343-2216