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EARNINGS

February 10, 1988

Chris-Craft Industries' net fell 28.4% to $10.55 million in 1987. The New York-based company noted that excluding the two non-recurring items--a 1987 debt retirement expense and a 1986 pension plan termination gain--1987 net income would have slightly exceeded the prior year's. The company said the combined earnings of the seven TV stations owned by its broadcasting subsidiary BHC declined 3%, while operating income at its industrial division was down 26.6%.

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