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ROADMASTER REPORTS RECORD FIRST QUARTER; SALES INCREASE BY OVER 25 PERCENT; EARNINGS FOR QUARTER REACH 4 CENTS PER SHARE

 ENGLEWOOD, Colo., May 17 /PRNewswire/ -- Roadmaster Industries, Inc. (RMI or the company) (NASDAQ: WHEL) announced today its unaudited financial results for the quarter ended April 3, 1993. The company said both quarterly revenues and quarterly earnings were the highest ever in its history for a comparable period. Total unaudited net revenues for all of the RMI reporting units were $66.3 million; operating profits were $4.2 million with a pre-tax profit of $1.8 million and net income of $1.1 million which represents earnings of 4 cents per share. This compares to net revenues of $52.1 million; operating profits of $2.7 million with a pre-tax profit of $1.1 million and net income of $578,000 for the same 1992 period which represented earnings of 2 cents per share (including the effect of SFAS No. 109 as described below). The 1992 net income also included a non-recurring gain on sale of affiliated company of $452,000. The increase in net revenues for the first quarter of 1993 compared to the same 1992 reporting period represents an increase in excess of 25 percent with a net income increase of 83 percent.
 The company adopted Financial Accounting Standards Board SFAS No. 109, "Accounting for Income Taxes" in the first quarter of 1993. The effect of the company's retroactive adoption of SFAS No. 109 on the first quarter of 1992 was a net income reduction of $221,000 or 1 cent per share. SFAS No. 109 had no significant effect on first quarter net income for the first quarter of 1993.
 Hamilton Lamp Corporation has shown significant improvement in monthly shipments over the past several months and reported a modest unaudited net income for the month of March 1993. For the three months ended April 3, 1993, Hamilton's net loss was $109,000 compared with a net loss of $349,000 for the same period in 1992. This $240,000 performance improvement reflects positively on Hamilton's refocused business strategy which concentrates on children's lamps.
 "The company's first quarter 1993 performance demonstrates our commitment to increased sales and profitability which results in enhanced value for our shareholders," said Henry Fong, RMI president and chief executive officer.
 Roadmaster Industries, Inc., operates through its two wholly-owned subsidiaries, Roadmaster Corporation (Roadmaster) and Hamilton Lamp Corporation (Hamilton) as well as its majority-owned subsidiary, International Sports and Fitness, Inc. (International). Roadmaster is a leading designer and manufacturer of Roadmaster junior products including, Roadmaster PlaySafe swing sets, Roadmaster bicycles and Vitamaster fitness equipment. Hamilton is a leading manufacturer of lamps including children's lighting products and replacement lamp shades. International, through its wholly owned subsidiary, Roadmaster Leisure, Inc., markets and distributes a broad range of sporting goods and recreational products, including Roadmaster products, in Canada.
 -0- 5/17/93
 /NOTE: Roadmaster and Vitamaster are registered trademarks. PlaySafe is a trademark./
 /CONTACT: Thomas B. Olson of Roadmaster Industries, Inc., 303-290-8150/
 (WHEL)


CO: Roadmaster Industries, Inc. ST: Colorado IN: SU: ERN

DC-MH -- DC022 -- 9277 05/17/93 13:39 EDT
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Publication:PR Newswire
Date:May 17, 1993
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