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LDM Technologies Announces Second Quarter Earnings

11 May 2000

LDM Technologies Announces Second Quarter Earnings

    AUBURN HILLS, Mich., May 10 LDM Technologies, Inc. reports
net sales for its second quarter ended March 26, 2000 (second quarter 2000)
were $137.7 million, an increase of $4.0 million, or 3.0%, from the second
quarter of FY 1999.  Second quarter 2000 net sales were comprised of
$123.5 million of automotive product sales and $14.2 million of mold sales
compared to automotive product and mold sales of $107.6 million and
$22.5 million, in second quarter 1999, respectively.
    Product sales increased due to the inclusion of an extra week in the
second quarter 2000.  First quarter fiscal 2000 was closed one week early, as
disclosed in a February 2 press release, to prepare for Y2K related issues.
This resulted in automotive product sales of approximately $7 million being
pushed into second quarter 2000.  The remaining increase relates to products
launched in the third and fourth quarters of fiscal 1999.  Mold sales
decreased year over year due to the high volume of product launches during the
third and fourth quarters of fiscal 1999.
    Operating profit was $6.6 million, or 4.8% of net sales, for the second
quarter in 2000 compared to $6.5 million, or 4.9% of net sales, for the same
period in 1999.
    Interest expense was $5.7 million for the second quarter 2000 compared to
$5.6 million for the second quarter 1999.
    Net loss for the second quarter 2000 was $0.5 million compared to a net
loss of $2.0 million for second quarter 1999.  The decreased loss was the
result of (i) a reduction in equity losses recognized related to the DBM
Technologies joint venture, due to improved operational results at DBM
(ii) an increase in equity earnings related to the Company's Sunningdale joint
venture, offset by (iii) an increase in the effective tax rate as compared to
second quarter 1999.
    EBITDA for the second quarter 2000 was $12.1 million compared to
$11.8 million for the second quarter 1999.