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OAKWOOD HOMES CORPORATION REPORTS RECORD SALES, TOTAL REVENUES AND EARNINGS FOR THIRD FISCAL QUARTER AND NINE MONTHS ENDED JUNE 30, 1993

 GREENSBORO, N.C., July 20 /PRNewswire/ -- Oakwood Homes Corporation (NYSE: OH) today reported record sales, total revenues and earnings for the third quarter of fiscal 1993, as well as for the nine months ended June 30, 1993.
 Sales for the third quarter were a record $73,611,000, compared with $52,134,000 for the same quarter of last year, an increase of 41 percent. Total revenues for the third quarter were a record $89,251,000, compared with $64,308,000 for the same quarter of last year, an increase of 39 percent. Net income for the quarter was a record $6,924,000, compared with last year's $4,097,000, an increase of 69 percent. Earnings per share were 33 cents on both a primary basis and on a fully diluted basis compared with last year's 29 cents on a primary basis and 26 cents fully diluted.
 Sales for the nine months ended June 30, 1993, were $170,500,000, compared with $125,664,000 for the comparable period last year, an increase of 36 percent. Total revenues for the current period were $213,659,000, compared with $159,746,000 for the comparable period last year, an increase of 34 percent. Net income for the nine months was $15,690,000, compared with $9,370,000 for the same period last year, an increase of 67 percent. Earnings per share were 83 cents on a primary basis and 79 cents fully diluted, compared with 67 cents on a primary basis and 61 cents fully diluted.
 "Oakwood continues its record-setting pace," according to Nicholas J. St. George, president and chief executive officer. "This quarter marks our ninth consecutive quarter of reporting net income increases exceeding 50 percent, further confirmation that our business strategies are sound and on track."
 Oakwood Homes Corporation and its subsidiaries are engaged primarily in the production and sale of manufactured housing in North Carolina, South Carolina, Virginia, West Virginia, Tennessee, Georgia, Texas, Delaware, Kentucky and Ohio.
 OAKWOOD HOMES CORPORATION
 Comparative Summary of Earnings
 Three Months Ended June 30, 1993 1992
 Sales $ 73,611,000 $ 52,134,000
 Total revenues $ 89,251,000 $ 64,308,000
 Net income $ 6,924,000 $ 4,097,000
 Earnings per common share
 Primary 33 cents 29 cents
 Fully-diluted 33 cents 26 cents
 Average shares outstanding
 Primary 21,213,000 14,074,000
 Fully-diluted 21,239,000 18,009,000
 Nine Months Ended June 30, 1993 1992
 Sales $170,500,000 $125,664,000
 Total revenues $213,659,000 $159,746,000
 Net income $ 15,690,000 $ 9,370,000
 Earnings per common share
 Primary 83 cents 67 cents
 Fully-diluted 79 cents 61 cents
 Average shares outstanding
 Primary 18,831,000 13,894,000
 Fully-diluted 20,034,000 17,858,000
 -0- 7/20/93
 /CONTACT: C. Michael Kilbourne of Oakwood Homes Corporation, 919-855-2345/
 (OH)


CO: Oakwood Homes Corporation ST: North Carolina IN: CST SU: ERN

MP -- NY064 -- 6815 07/20/93 12:25 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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