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BESTOP REPORTS FIRST QUARTER EARNINGS

 BROOMFIELD, Colo., April 14 /PRNewswire/ -- Bestop Inc. (NASDAQ: BTOP) reported today that net income for the first quarter ended March 27, 1993 was $482,010, or 14 cents per share compared to $690,407, or 27 cents per share in the year earlier period. Bestop's net sales for the first quarter ended March 27, 1993 were $8,594,000 compared to $9,071,000 for the first quarter of 1992.
 Due to utilization of tax loss carryforwards, the income tax rate in the year earlier period equaled 25.7 percent compared to 38.5 percent for the first quarter of 1993. In terms of dollars, the higher tax rate increased the provision for income taxes by approximately $119,000 in the first quarter of 1993. Assuming a 38.5 percent tax rate for both years, earnings for the year-ago quarter would have been $571,401 or 23 cents per share. Weighted average shares outstanding increased 35 percent from 2,532,210 to 3,440,685 as the result of the company's initial public offering in August of 1992.
 "In addition to a higher tax rate and 35 percent more shares in 1993, sales and earnings comparisons versus 1992 were affected primarily by reduced sales of Jeep Wrangler soft tops to Chrysler Corporation and a decrease in sales in the international aftermarket," said Richard Sabourin, president and chief executive officer. Revenues from the sale of Jeep Wrangler soft tops were 15.9 percent below that of the first quarter of 1992 because Chrysler increased its "build rate" of Wrangler vehicles during the first quarter of 1992 in preparation for the relocation of the Jeep manufacturing plant from Ontario, Canada to Toledo, Ohio in the second quarter of that year. As a result, first quarter sales last year were artificially high. International sales were affected by the slow sales activity of a significant European distributor as well as economic conditions in Europe. Bestop has recently put in place a new sales director for Europe and entered into a new warehousing and distribution arrangement to concentrate on sales in that market.
 "For the balance of the year, we are encouraged by the recent strong performance of the North American auto industry. In addition, the impact of Chrysler's Jeep plant relocation will be a positive factor in the comparison of the second quarter of 1993 to the year earlier period. We also intend to watch closely the economic conditions in Europe which have adversely affected auto industry sales. Looking toward the second half of 1993, we will be launching three new products, although we caution that any change in the scheduled date of introduction could delay sales of a new product but most likely would not decrease Bestop's launch costs. These new products include a new soft top for the Jeep Wrangler, a soft top for a new sport utility vehicle of Kia Motors Corporation, Korea's largest truck manufacturer, and a soft top for a new sport utility vehicle of a major European OEM company. Overall, given the recent strong performance of U.S. small sport utility vehicle sales as well as the new opportunities mentioned, we maintain a positive outlook for the remainder of 1993," added Sabourin.
 Bestop is the leading designer and manufacturer in North America of automotive soft tops and accessories for small sport utility vehicles. Bestop is the sole supplier to Chrysler of soft tops for the Jeep Wrangler. The company's automotive customers include: Chrysler, General Motors, CAMI (a General Motors/Suzuki joint venture), American Suzuki, Suzuki Canada, Suzuki Motors (Japan), Daihatsu (Japan), Santana (a 66 percent equity owned Suzuki venture in Spain), IBC Vehicles (a General Motors/Isuzu joint venture), and Kia Motors (Korea).
 BESTOP INC.
 Sales and Earnings
 First Quarter Ended
 March 27, March 28,
 1993 1992
 Revenues $8,594,000 $9,071,000
 Income from operations $825,000 $1,186,000
 Earnings $482,000 $690,000
 Pro forma fully taxed (38.5 percent) $482,000 $571,401
 Earnings per common share $.14 $.27
 Pro forma fully taxed (38.5 percent) $.14 $.23
 Weighted average common and common
 equivalent shares outstanding 3,440,685 2,532,210
 -0- 4/14/93
 /CONTACT: Richard E. Sabourin or Ron C. Fox of Bestop, 303-465-1755; or Wayne Brown of Carl Thompson Associates, 303-494-5472, for Bestop/
 (BTOP)


CO: Bestop Inc. ST: Colorado IN: AUT SU: ERN

MC -- DV006 -- 5773 04/14/93 13:48 EDT
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Date:Apr 14, 1993
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