ANCHOR GLASS &lt;AGLS> NOW SEES HIGHER 1ST QTR NET

  Anchor Glass Container Corp said
  first quarter net income is now expected to exceed the 3.1 mln
  dlrs earned before extraordinary items in the year earlier
  quarter.
      Previously, the company had said first quarter results
  would likely be lower than for the 1986 period due to
  production disruptions caused by the large number of production
  line changes scheduled during the first quarter, its statement
  pointed out.
      While the disruptive effects of the production line changes
  had occurred in line with expectations, Anchor Glass said,
  first quarter operating results were helped by lower than
  anticipated operating costs and improved margins on sales as a
  result of a more favorable product mix.
      The company said its income performance for the full year
  remains very good.
      It also said Anchor Hocking Corp &lt;ARH> has converted the
  entire principal balance of its Anchor Glass convertible
  subordinated note to 576,694 Anchor Glass common shares.
      Anchor Glass said the conversion decreased its total debt
  and increased stockholders' equity by about 9.4 mln dlrs and
  increased common shares outstanding to 13,902,716.
      It said the conversion will also reduce its annualized net
  interest expense by about 1.1 mln dlrs, or 600,000 dlrs after
  taxes.
  

