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LDM Technologies Announces Third Quarter Earnings

28 July 1997

LDM Technologies Announces Third Quarter Earnings

    AUBURN HILLS, Mich., July 28 -- LDM Technologies, Inc.
reports net sales for the third quarter ended June 29, 1997 were
$82.4 million, an increase of $25.5 million, or 44.8%, from the third quarter
of 1996.  Third quarter 1997 net sales were comprised of $73.4 million of
automotive product sales, $4.5 million of consumer and other product sales,
and $4.5 million of mold sales.  The strong sales growth was mainly
attributable to increased automotive product sales related to the Company's
January 22, 1997 acquisition of Molmec, Inc. and continued strength of the
Company's existing production parts programs.
    Operating profit was $8.3 million, or 1O.0% of net sales, for the third
quarter 1997 compared to $3.3 million, or 5.8% of net sales, for the same
period in 1996.  The increase was primarily due to the Molmec acquisition and
improved profitability of the Company's Canadian automotive operation.
    Interest expense was $3.4 million for the third quarter 1997 compared to
$0.8 million for the third quarter 1996.  The increased interest expense was
primarily due to the incurrence of additional debt related to the Molmec
acquisition.
    Net income for the third quarter 1997 was $3.2 million, or 3.9% of net
sales compared to $1.3 million, or 2.3% of net sales, in the second quarter
1996.
    Net sales, operating profit and net income for the first nine months of
fiscal year 1997 were $215.2 million, $15.6 million and $5.6 million,
respectively.  Net sales, operating profit and net income for the first nine
months of fiscal year 1996 were $162.0 million, $6.6 million and $2.6 million,
respectively.
    Pro forma net sales, net income and EBITDA for the first three quarters of
fiscal year 1997, as if the Molmec and Kendallville acquisitions had taken
place as of September 30, 1996, were $246.8 million, $7.1 million and
$31.2 million, respectively.  Pro forma net sales, net income and EBITDA for
the first three quarters of fiscal year 1996, as if the Molmec and
Kendallville acquisitions had taken place as of September 25, 1995, were
$238.0 million, $0.8 million and $21.4 million, respectively.

SOURCE  LDM Technologies, Inc.