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LDM Technologies Announces Q2 Earnings

13 May 1998

LDM Technologies Announces Second Quarter Earnings

    AUBURN HILLS, Mich., May 13 -- LDM Technologies, Inc. reports
net sales for its second quarter ended March 29, 1998 (second quarter 1998)
were $125.9 million, an increase of $45.3 million, or 56.2%, from the second
quarter of FY 1997.  Second quarter 1998 net sales were comprised of
$113.0 million of automotive product sales, $5.0 million of consumer and other
product sales, and $7.9 million of mold sales.  The strong sales growth was
mainly attributable to increased automotive product sales related to
acquisitions made over the last twelve months.
    Operating profit was $5.8 million, or 4.6% of net sales, for the second
quarter 1998 compared to $5.7 million, or 7.1% of net sales, for the same
period in 1997.  The decrease was due to increased goodwill amortization and
lower margins associated with acquisitions made over the last six months.
    Interest expense was $5.0 million for the second quarter 1998 compared to
$2.9 million for the second quarter 1997.  The increased interest expense was
primarily due to the incurrence of additional debt related to recent
acquisitions.
    Net income for the second quarter 1998 was $0.2 million, or 0.1% of net
sales compared to $1.9 million, or 2.4% of net sales, in the second quarter
1997.
    EBITDA for the second quarter 1998 was $11.3 million compared to
$8.6 million for the second quarter 1997.  The increase is due to additional
sales volumes related to recent acquisitions.

SOURCE  LDM Technologies, Inc.