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LDM Technologies Announces Second Quarter Earnings

13 May 1999

LDM Technologies Announces Second Quarter Earnings

    AUBURN HILLS, Mich., May 12 -- LDM Technologies, Inc. reports
net sales for its second quarter ended March 28, 1999 (second quarter 1999)
were $133.7 million, an increase of $7.8 million, or 6.2%, from the second
quarter of FY 1998.  Second quarter 1999 net sales were comprised of $107.6
million of automotive product sales, $3.6 million of consumer and other
product sales, and $22.5 million of mold sales.  The increase is the result of
increased mold sales related to new products launching in third and fourth
quarters of fiscal 1999, and a full quarter of Huron Plastics sales
consolidated in second quarter 1999, offset by no longer consolidating the DBM
Technologies joint venture results (formerly Kenco).  DBM's net sales for
second quarter 1999 were $13.1 million.
    Operating profit was $6.5 million, or 4.9% of net sales, for the second
quarter in 1999 compared to $5.8 million, or 4.6% of net sales, for the same
period in 1998.  The increase was due to improved operations at the Company's
North American facilities offset by losses at its facility in Beienheim,
Germany.
    Interest expense was $5.6 million for the second quarter 1999 compared to
$5.0 million for the second quarter 1998.  The increased interest expense was
primarily due to the incurrence of additional debt related to the Huron
Plastics acquisition.
    Net loss for the second quarter 1999 was $2.0 million, or (1.5%) of net
sales compared to net income of $0.2 million, or 0.1% of net sales for second
quarter 1998.  The decrease was the result of $0.8 million of unrealized
currency exchange losses related to the Company's Beienheim, Germany facility
and $1.3 million of equity losses related to the DBM Technologies joint
venture.
    EBITDA for the second quarter 1999 was $11.6 million compared to $11.3
million for the second quarter 1998.