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SL Industries Announces 2011 Full Year And Fourth Quarter Results

SL INDUSTRIES, INC. (NYSE AMEX: SLI) Announced today that its net sales from continuing operations for the year ended December 31, 2011, were $212.3 million, up 12% compared with net sales from continuing operations for the year ended December 31, 2010 of $189.8 million.

For the year ended December 31, 2011, net income from continuing operations was $12.8 million, or $2.80 per diluted share, a 31% increase over net income from continuing operations of $9.8 million, or $1.68 per diluted share, for the year ended December 31, 2010.

Net income for the year ended December 31, 2011 was $8.2 million, or $1.79 per diluted share, compared to net income of $2.6 million, or $0.44 per diluted share, for the year ended December 31, 2010. Net income for the year ended December 31, 2011 included a net loss from discontinued operations, after tax, of $4.6 million, or $1.01 per diluted share, compared to a net loss of $7.2 million, or $1.24 per diluted share, for the year ended December 31, 2010. The majority of the loss in discontinued operations for the year ended December 31, 2011 related to an after-tax charge for environmental remediation recorded in the fourth quarter of 2011 totaling $5.2 million related to the Company’s Pennsauken site. The loss in discontinued operations was partially offset by a $0.8 million non-cash gain from a favorable tax settlement associated with the Company’s former German subsidiary, which was sold in January 2003. The net loss from discontinued operations also benefited from a change in the estimated effective state tax rates. The majority of the loss in discontinued operations for the year ended December 31, 2010 related to after-tax charges for environmental remediation recorded in the second and fourth quarters of 2010 totaling $5.9 million related to the Company’s Pennsauken and Camden sites.

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