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MODTECH REPORTS RESULTS

 MODTECH REPORTS RESULTS
 PERRIS, Calif., May 13 /PRNewswire/ -- Modtech Inc. (NASDAQ: MODT)


reported today a loss in the first quarter of 1992 of approximately $226,000, or $.06 per share, and said the loss is primarily attributable to the low utilization of its manufacturing facilities in the poor economic climate of California. Revenue for the quarter ended March 31, 1992, was $6,576,000, compared to $8,210,000 in the same period a year ago.
 According to Evan M. Gruber, chief executive officer, "We continue to be hampered by the budget shortfalls, which plague the State of California. On an almost daily basis, California school districts announce deficits and teacher layoffs. Additionally, as firms in our industry compete for shares of this market, margins decline. School districts do not appear to have funds to place orders even though the student population continues to grow rapidly.
 "However, the California State Legislature has placed on the June 2, 1992, ballot, $1.9 billion of bonds for new school construction. We at Modtech Inc. are hopeful that this bond issue meets with voter approval.
 "While we believe we are in for more tough quarters, the underlying demographics of a continuing increase in student growth, as validated by the need for a bond issue, suggest that our industry has a potential for growth."
 MODTECH INC.
 Selected Unaudited Financial Data
 ($, thousands, except EPS)
 March 31,
 1992 1991
 Net sales $6,576 8,210
 (Loss) before taxes (226) (250)
 Net (loss) (226) (150)
 (Loss) per share (.06) (.04)
 Average shares outstanding 3,701 3,952
 -0- 5/13/92
 /CONTACT: Evan M. Gruber, CEO of Modtech, 714-943-4014/
 (MODT) CO: Modtech Inc. ST: California IN: SU: ERN


DM-CH -- LA032 -- 9861 05/13/92 16:00 EDT
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Publication:PR Newswire
Date:May 13, 1992
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