ARVIN &lt;ARV> SES FLAT 1ST QTR RESULTS

  Arvin Industries Inc said higher
  interest costs from borrowings to make acquisitions will
  produce earnings flat with last year's 59 cts a share results.
      Arvin said it might earn 57 cts to 60 cts a share in the
  quarter.
      These results also reflect the seasonally low sales pattern
  of automotive replacement parts in that period.
      Arvin forecast about 85 cts a share net in the second
  quarter compared with 68 cts in last year's period.
      The company said revenues for full year 1987 it will exceed
  1.4 billion dlrs, net earnings will increase more than 30 pct,
  while per share earnings should increase 12 to 18 pct.
      Arvin's 1986 revenues were 995.6 mln, net reached 41.2 mln
  and earnings per share 2.46 dlrs.
      It based these forecasts due to the addition of Schrader
  Automotive Inc and Maremont Corp, both acquired last year.
      Chairman James Baker said 1987 quarterly comparisons will
  not conform to historical patterns for the year because the
  acquisitions of Schrader and Maremond occurred in different
  quarters.
      He said Arvin will complete the purchase of Systems
  Research Laboratories in the second quarter of 1987. This will
  also increase revenues.
  

