Clarion Technologies Releases Fiscal 2002 Results

GRAND RAPIDS, Mich., April 15 -- Clarion Technologies, Inc. (BULLETIN BOARD: CLAR) today announced financial results for the fiscal year ended December 28, 2002.

Clarion's 2002 sales were $80.6 million versus $90.6 million in 2001. Despite the decrease in revenue, primarily due to softer markets, gross profit increased by over $10.0 million. This improvement was attributable to significant decreases in material, labor, and overhead and costs. Operating income increased due to substantial reductions in selling, general and administrative costs. Clarion's net loss from continuing operations for 2002 was ($7.4) million versus ($27.9) million in 2001.

Clarion Technologies' President, Bill Beckman, commented, "We believe our company is in a much stronger position going into 2003. Over the past 15 months, we have significantly decreased our cost structure, exited the heavy truck industry, restructured a large portion of our subordinated debt and refinanced our senior debt. The benefit of the subordinated debt restructuring, a reduction in annual interest expense, is not reflected in our 2002 Statement of Operations but will be reflected in the 2003 and future Statements of Operations. In addition, Clarion has been successful in securing new business with key customers in our three primary markets, automotive, consumer products and office environments. With continuing sales growth and operational execution, we believe Clarion is poised to produce positive net income and create shareholder value."

Clarion Technologies, Inc. operates four manufacturing facilities in Michigan and South Carolina with approximately 145 injection molding machines ranging in size from 55 to 1500 tons of clamping force. The Company's headquarters are located in Grand Rapids, Michigan. Further information about Clarion Technologies can be obtained on the web at www.clariontechnologies.com or by contacting Terri Streelman at (616)233-6680.

With the exception of historical factual information, the statements made in this press release include forward-looking statements. These statements are based upon current expectations and are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Such forward-looking statements involve certain known and unknown assumptions, risks and uncertainties that could cause actual results to differ materially from those included in or contemplated by the statements. These assumptions, risks and uncertainties include, but are not limited to, those discussed or indicated in the Company's Annual Report on Form 10-K for the year ended December 28, 2002 and in all documents filed by the Company with the Securities and Exchange Commission. The Company disclaims any obligation to update any forward- looking statements as a result of developments occurring after the date of this press release.

               CLARION TECHNOLOGIES, INC. AND SUBSIDIARIES
             CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                  (In thousands, except per share data)

                                             Fiscal year ended
                                    December 28,  December 29,  December 30,
                                         2002         2001         2000

  Net sales                            $80,630      $90,573     $107,189
  Cost of sales                         70,174       88,935       92,450
      Gross profit                      10,456        1,638       14,739

  Selling, general and administrative
   expenses                              7,859       11,081       12,396
  Impairment and other nonrecurring
   charges (credits)                      (713)       7,431        2,299
      Operating income (loss)            3,310      (16,874)          44

  Other income (expenses):
    Interest expense                   (10,838)     (10,947)      (8,008)
    Interest income                         48           46          114
    Other, net                              26         (130)           -
                                       (10,764)     (11,031)      (7,894)
      Loss from continuing operations
       before income taxes              (7,454)     (27,905)      (7,850)

  Provision for income taxes                 -            -            -

      Loss from continuing operations   (7,454)     (27,905)      (7,850)

    Income (loss) from discontinued
     operations (including loss on
      disposal of $97 in 2002)             209       (7,238)      (1,686)

  Net loss                             $(7,245)    $(35,143)     $(9,536)

  Net loss from continuing operations
   attributable to common
    shareholders                      $(12,319)    $(31,731)    $(10,054)
  Net loss attributable to common
   shareholders                       $(12,110)    $(38,969)    $(11,740)

  Average common shares outstanding
   (basic and diluted)                  42,667       23,667       21,625

  Loss per common share (basic and diluted):
    Loss from continuing operations     $(0.28)      $(1.34)      $(0.46)
    Income (loss) from discontinued
     operations                              -        (0.31)       (0.08)

  Net loss per share of common stock    $(0.28)      $(1.65)      $(0.54)

  (  ) Denotes deduction.