Clarion Technologies Reports Second Quarter 2004 Results

GRAND RAPIDS, Mich., Aug. 11, 2004 -- Clarion Technologies, Inc. (BULLETIN BOARD: CLAR) today announced financial results for the quarterly period ended June 26, 2004.

Clarion's 2004 sales for the second quarter were $28.1 million versus $25.5 million in the second quarter of 2003. Sales for the first six months of 2004 were $57.7 million versus $47.7 million for the same period of 2003. The 22% increase in revenue was driven primarily by sales of new products with existing customers. Net income for the first six months of 2004 was $1.3 million versus $1.36 million for the same period of 2003. Net loss attributable to common shareholders for the first six months of 2004 was ($3.20) million versus ($2.63) million for the same period of 2003. The increase in net loss attributable to common shareholders was primarily driven by the increase in accrued dividends.

Clarion Technologies' President, Bill Beckman, commented, "We are pleased with the growth in sales over the last year. We have many new projects ready to launch within the next few months that will continue to increase our revenue."

Clarion Technologies, Inc. operates four manufacturing facilities in Michigan, one in South Carolina, and two in Iowa with approximately 170 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 http://www.clariontechnologies.com/ or by contacting Mary Asadorian at (616) 233-6680.

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

                      Second Quarter Ended          Six Months Ended
                 June 26, 2004  June 28, 2003  June 26, 2004  June 28, 2003

  Net sales          $28,127        $25,483        $57,721        $47,664
  Cost of sales       24,718         21,905         50,567         40,887
      Gross profit     3,409          3,578          7,154          6,777

  Operating expenses:
     Selling, general
      and administrative
       expenses        1,878          1,859          3,693          3,668
     Restructuring and
      impairment
       credits          (117)             -           (117)          (207)
                       1,761          1,859          3,576          3,461
      Operating
       income          1,648          1,719          3,578          3,316

  Interest expense    (1,120)          (982)        (2,240)        (1,982)
  Other income
   (expense), net        (34)            17            (33)            22
  Income before income
   taxes                 494            754          1,305          1,356

  Provision for income
   taxes                   -              -              -              -

      Net income        $494           $754         $1,305         $1,356

  Net loss attributable
   to common
    shareholders     $(1,509)       $(1,265)       $(3,203)       $(2,633)

  Average shares
   outstanding (basic
    and diluted)      45,209         44,375         45,155         44,325

  Loss per share
   attributable to
    common shareholders
     (basic and
       diluted)        $(.03)         $(.03)         $(.07)         $(.06)