Printer Friendly

DYNAMIC HOMES REPORTS THIRD QUARTER EARNINGS

 DETROIT LAKES, Minn., Nov. 19 ~PRNewswire~ -- Dynamic Homes, Inc. today reported revenues of $2,627,000 for the third quarter of 1992, an increase of 22 percent from $2,149,000 last year. Net income f For the first n ine months of 1992, revenues increased 7 percent to $5,593,000. Earnings came to $87,000 or $.04 per share, compared to the net loss of $15,000 or $.01 per share last year.
 Vern Muzik, Dynamic's president, said he is encouraged by the company's continued progress throughout 1992. He said the higher third quarter revenues resulted from a strong increase in multi- family~commercial construction and improved pricing on single-family homes. Third quarter earnings also benefited from ongoing cost control throughout the organization.
 Muzik said the company's third quarter profitability was affected by higher non-operating expense, which rose to $120,000 from $26,000 in the year-earlier period. He said virtually all of this increase reflects expenses associated with an out-of-court settlement in November on all issued related to a lawsuit initiated in 1990. Muzik said the company will not incur any further liability related to this settlement.
 The company's order backlog totaled $1,929,000 at the end of the third quarter, up 46 percent from $1,321,000 a year ago. Muzik said this backlog makes him confident that the fourth quarter should be another good period for Dynamic, which would result in higher revenues and earnings for the full year.
 Dynamic Homes, Inc. is a leading regional builder of modular single- family homes, multi-family dwellings and commercial buildings. The company's products are marketed through a network of approximately 60 builder-dealers in Minnesota, Iowa, North Dakota, South Dakota, Wisconsin and Wyoming. The company's common stock is traded on the local over-the-counter market.
 -0- 11~19~92
 ~CONTACT: Vern Muzik, president, Dynamic Homes, 218-847-2611~


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

KH -- MN006 -- 2897 11~19~92 12:32 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 19, 1992
Words:326
Previous Article:ION LASER TECHNOLOGY BEGINS SHIPMENT OF DENTAL LASERS
Next Article:MEDICAL DEVICES, INC. ANNOUNCES COMPLETION OF EQUITY PRIVATE PLACEMENT
Topics:


Related Articles
DYNAMIC HOMES REPORTS SECOND QUARTER RESULTS
SCIENCE DYNAMICS CORPORATION REPORTS SALES AND EARNINGS FOR THIRD QUARTER
DYNAMIC HOMES REPORTS STRONG 1992 EARNINGS
DYNAMIC HOMES REPORTS STRONG THIRD QUARTER EARNINGS
DYNAMIC HOMES REPORTS STRONG THIRD QUARTER RESULTS: SALES, INCOME AND BACKLOG UP SHARPLY
DYNAMIC HOMES REPORTS SIGNIFICANT BACKLOG INCREASE: MAJOR MULTI- AND SINGLE-FAMILY PROJECTS
DYNAMIC HOMES REPORTS STRONGLY HIGHER 1994 RESULTS
DYNAMIC HOMES REPORTS SECOND QUARTER EARNINGS
DYNAMIC HOMES REPORTS THIRD QUARTER EARNINGS
Ryland Reports 41 Percent Increase in Third-Quarter EPS, Increases Earnings Guidance for 2003.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters