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DURAKON ANNOUNCES SECOND QUARTER 1992 OPERATING RESULTS

 DURAKON ANNOUNCES SECOND QUARTER 1992 OPERATING RESULTS
 LAPEER, Mich., Aug. 3 /PRNewswire/ -- Durakon Industries, Inc. (NASDAQ-NMS: DRKN) today released its sales and earnings results for the second quarter and six months ended June 30, 1992.
 The net income for the second quarter 1992 was $2,661,000 or $0.43 per share compared to $894,000 or $0.14 per share in the second quarter 1991. For the six month period ended June 30, 1992, net income improved to $4,004,000 or $0.65 per share versus a net loss of ($2,016,000) or ($0.33) per share for the same period last year.
 Net sales increased 18 percent to $23,149,000 for the second quarter 1992 versus the same period in 1991. For the six months ended June 30, 1992, net sales increased 25 percent to $42,193,000 compared to the six months ended June 30, 1991.
 Sales increases were realized in both the Durakon pickup accessories and Jerr-Dan vehicle transportation business segments for the second quarter and six months ended June 30, 1992. Bedliner volume gains continue to be realized in most distribution channels with the OEM channel showing the largest increase. Average bedliner selling prices decreased slightly from year ago levels due mainly to higher OEM sales volumes.
 Sales and profits for the second quarter and year-to-date 1992 include the results of the company's East Coast distribution network which was acquired through foreclosure on Feb. 5, 1992. Both unit volume and average selling prices in the vehicle transportation segment increased compared to the same period in 1991.
 For the second quarter and six months ended June 30, 1992, manufacturing costs per unit were lower in both business segments compared to the same periods last year. Selling and administrative costs for the second quarter 1992 were higher than the same quarter of 1991, primarily due to the addition of the company's East Coast distribution network. As a percentage of sales, however, these expenses were lower in the second quarter 1992 compared to the same 1991 period.
 William Webster, president and CEO, stated that "excluding the one- time adjustments recorded in the fourth quarter of 1991, this represents the fifth consecutive quarter of profitability. I am proud of our employees who contributed greatly to achieve these results. Jerr-Dan continues to be profitable in a weak market. We have strengthened the management team with the appointment of William Allen as general manager of our company-owned ADA distribution network. Debt has been substantially reduced from year ago levels and available cash was over $9,000,000 at June 30, 1992."
 Durakon is the world's leading producer and distributor of pickup truck bedliners and rollback car carriers. Headquartered in Lapeer, it has manufacturing facilities in Lapeer and Greencastle, Pa. Durakon is a publicly traded company.
 DURAKON INDUSTRIES, INC.
 (In Thousands, Except Per Share Amounts - Unaudited)
 Fav
 (Unfav) Percent
 Three months ended June 30, 1992 1991 Variance Change
 Net sales $ 23,149 $ 19,598 $ 3,551 18
 Operating income (loss) 4,477 1,684 2,793 166
 Other (income) expense 15 0 (15) --
 Net income (loss) 2,661 894 1,767 198
 Net income (loss) per share $0.43 $0.14 $0.29 207
 Fully diluted net income
 (loss) per share $0.41 $0.14 $0.27 193
 Weighted average number of
 common shares outstanding 6,165 6,175
 Six months ended June 30:
 Net sales $42,193 $33,727 $8,466 25
 Operating income (loss) 6,672 (2,640)(A) 9,312 --
 Other (income) expense (50) 0 50 --
 Net income (loss) 4,004 (2,016) 6,020 --
 Net income (loss) per share $0.65 $(0.33) $0.98 --
 Fully diluted net income
 (loss) per share $0.63 $(0.33) $0.96 --
 Weighted average number of
 common shares outstanding 6,165 6,175
 (A) Includes one-time adjustments related to settlement of an employee contract and other reorganization costs recorded in the first quarter.
 -0- 8/3/92
 /CONTACT: Tom Galas of Durakon, 313-664-0850/
 (DRKN) CO: Durakon Industries, Inc. ST: Michigan IN: AUT SU: ERN


SH -- NY028 -- 6060 08/03/92 10:42 EDT
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Date:Aug 3, 1992
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