Tecumseh Products Company Reports First Quarter 2001 Net of $0.74 Per Share

26.04.2001

TECUMSEH, Mich., Tecumseh Products Company (Nasdaq: TECUA, TECUB) announced its 2001 first quarter results.

Pump Business

Sales in the Pump Business declined to $31.3 million in the quarter ended

March 31, 2001 compared to $32.8 million in the same period of 2000. The

primary reason for the sales decrease was a reduction in sales for water

gardening applications. This was partially offset by increased sales to the

plumbing market. The decline in water gardening sales was primarily a result

of poor weather conditions during the quarter.

Pump Business operating income amounted to $3.0 million in 2001 compared

to $4.1 million in 2000. Reduced retail sales and increased costs associated

with the absorption and integration of the fourth quarter 2000 acquisition of

Interon Corporation contributed to the reduction in operating income.

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