Summa Industries, FULLERTON

Nature of business: Designs and manufactures industrial equipment

Total employees: 227

In Orange County: 67

Stock listing in The Times: On Nasdaq “Summa”

Ticker symbol: “SUIN”

Friday’s stock close: $6.25

One-week change: Down $0.25

Analyst review: “Summa Industries used to be called Morehouse Industries. It changed its name and offered a one-for-four reverse stock split last month. Things were stagnant for them for a while, with sales slow and costs creeping up. But James Swartwout, the CEO, has developed a strategy to improve the top line through acquisitions. Summa’s principal business used to be large, industrial mixing machines, but it acquired other niche businesses, including one that manufactures water cannons for fireboats and another company that makes plastic grid conveyor belts used in food processing plants. The companies he acquired were usually the only ones making a particular product or by far the dominant player. Swartwout knows how to run a company from a financial standpoint and he will be working to get some growth out ot these divisions.”--Jim Liuzzi, analyst, Cruttenden & Co., Irvine

Revenue (In millions of dollars)

‘89 ’90 ’91 ’92 ’93 3.9 3.3 3.6 7.6 9.8

Profit (In millions of dollars)

‘89 ’90 ’91 ’92 ’93 -0.4 -1.2 0.2 0.6 0.7

Corporate outlook: “We are aggressively pursuing additional acquisitions. And we bring some good things to the table. We’re a public company with a strong balance sheet, and we look for stand-alone companies where we can leave management in place and develop some management synergies between companies.”--James R. Swartwout, chairman/CEO

RETURN ON STOCKHOLDER INVESTMENT: 5-YEAR SUMMARY

Fiscal year ended Dec. 31 Dec. 31 Dec 31 Dec. 31 ’89 ’90 ’91 ’92 52-week high $1.13 $1.25 $1.13 $1.63 52-week low $0.63 $0.38 $0.19 $0.88 Book value per share $0.87 $0.56 $0.62 $0.67 Price per share $0.75 $0.38 $0.88 $0.91 Net profit per share ($0.11) ($0.30) $0.05 $0.15 Price-to-earnings ratio N/A N/A 18:1 6:1 Avg. return on investor equity N/A N/A 8% 22%

Fiscal year ended Dec. 31 ’93 52-week high $2.13 52-week low $0.94 Book value per share $1.07 Price per share $1.47 Net profit per share $0.17 Price-to-earnings ratio 9:1 Avg. return on investor equity 21%

For more information call or write, Summa Industries: 1600 W. Commonwealth Ave., Fullerton, Calif., 92633. (714) 738-5000.

Source: Summa Industries Inc.; Bloomberg Business News