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DOUGLAS & LOMASON REPORTS FIRST-QUARTER, 1992, RESULTS

 DOUGLAS & LOMASON REPORTS FIRST-QUARTER, 1992, RESULTS
 FARMINGTON HILLS, Mich., April 24 /PRNewswire/ -- Douglas & Lomason


Company (NASDAQ-NMS: DOUG), a major automotive parts manufacturer headquartered in Farmington Hills, reported significantly improved sales and earnings for the first quarter of 1992 compared to the same period of 1991.
 Sales in the first quarter of 1992 were 21 percent above the sales level of the first quarter of 1991. First-quarter sales of 1991 were negatively impacted by the events in the Persian Gulf resulting in an overall downturn in the automotive industry. The net earnings improvement is directly related to the increased sales level and reduced interest expense. Interest expense was reduced as a result of 30 percent lower inventories and 23 percent lower debt in 1992.
 Sales of $90.8 million for the three months ended March 31, 1992, compare to $75.1 million for the same period of 1991 or an increase of 21 percent. Net earnings of $1.0 million or $.33 per share for the first quarter of 1992 compare favorably to a net loss of $2.0 million or $.64 per share for the same period of 1991. Interest expense in 1992 of $.9 million compared to $1.4 million in 1991 reflects a 37-percent reduction.
 Per-share data and outstanding shares have been adjusted to reflect the 1992 3-for-2 stock split distributed April 2, 1992. On March 26, 1992, the company announced the filing of a Registration Statement for a public offering of 1,015,294 shares of common stock. Net proceeds from this offering will be used to reduce debt, finance capital expenditures and for other general corporate purposes.
 DOUGLAS & LOMASON COMPANY
 STATEMENT OF CONSOLIDATED EARNINGS FOR THE THREE MONTHS
 ENDED MARCH 31, 1992, WITH COMPARATIVE FIGURES FOR 1991
 1992 1991
 Net sales $90,814,874 $75,081,542
 Net earnings (loss) $ 1,043,419 $(2,016,576)
 Net earnings (loss) per share $ .33 $ (.64)
 Weighted average number of shares 3,202,184 3,147,918
 -0- 4/24/92
 /CONTACT: Melynn M. Zylka of Douglas & Lomason, 313-442-4258/
 (DOUG) CO: Douglas & Lomason Company ST: Michigan IN: AUT SU: ERN


SB -- DE012 -- 2321 04/24/92 09:47 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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