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DYNAMIC HOMES REPORTS STRONG THIRD QUARTER EARNINGS

 DETROIT LAKES, Minn., Oct. 27 /PRNewswire/ -- Dynamic Homes, Inc., today reported earnings of $537,000 or $.25 per share for the third quarter of 1993, up significantly from $160,000 or $.08 per share a year ago. Total revenues for the current period came to $3,153,000, an increase of 20 percent from $2,627,000 in the third quarter of 1992.
 For the first nine months of 1993, net income totaled $789,000 or $.37 per share, compared to $87,000 or $.04 per share in the same period last year. Revenues amounted to $6,955,000 up 24 percent from $5,593,000 in the first nine months of 1992.
 Vern Muzik, Dynamic's president, said the third quarter earnings make him confident that 1993 will be the strongest year in the company's recent history by a wide margin. He said the company is starting to realize the full benefit of the strengthened operational foundation that has been implemented over the past few years.
 He said the company's third quarter results were driven by a 27 percent increase in sales of single-family housing, reflecting low mortgage interest rates and the effectiveness of Dynamic's sales and marketing efforts. Muzik said the company's gross margin improved to 26.5 percent in the third quarter from 21.3 percent a year ago, due to the higher production volume and the elimination of discount pricing. He added that the surcharge on home prices imposed in March to cover escalating prices for wood building products was eliminated in July.
 The order backlog of single-family and multi-family/commercial construction totaled $4,472,000 at Sept. 30, 1993, up 24 percent from $3,596,000 at the end of the second quarter and also up 132 percent from $1,929,000 at Sept. 30, 1992. Muzik said that as a result of the strong order backlog, the fourth quarter of 1993 is shaping up as another strong period for the company.
 Dynamic Homes, Inc., is a leading regional builder of modular single-family homes as well as multi-family and commercial buildings. The company's products are marketed through a network of more than 65 builder-dealers in Minnesota, Iowa, North and South Dakota, Wisconsin and Wyoming. The company's common stock is traded on the local over- the-counter market.
 -0- 10/27/93
 /CONTACT: Vern Muzik, president of Dynamic Homes, 218-847-2611/


CO: Dynamic Homes, Inc. ST: Minnesota IN: CST SU: ERN

DB-DS -- MN016 -- 7395 10/27/93 14:11 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
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