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BESTOP REPORTS RECORD 1992 SALES AND INCOME

 BROOMFIELD, Colo., Feb. 16 /PRNewswire/ -- Bestop Inc. (NASDAQ: BTOP) today reported revenues grew 19 percent to $36.3 million fo ?the year ended Dec. 26, 1992 compared to $30.7 million for 1991. The company also reported earnings of $2.8 million, or 99 cents per share for the recent year, compared to earnings of $2.3 million, or 86 cents per share in 1991, representing 25 percent and 15 percent increases, respectively.
 Earnings per share figures were calculated on 2,863,987 common shares and equivalents for the recent year, which is 13 percent more shares than the 2,532,210 shares used for the previous year's figures. This was due to the initial public offering of 925,000 shares of the company's common stock in August of 1992.
 Earnings in 1991 benefitted from a tax-loss carryforward which virtually eliminated income taxes for that period. On a pro forma, fully taxed basis of 37.5 percent for both years, earnings per share would have increased 56 percent to 84 cents per share for the recent year, compared to 54 cents per share for the previous year.
 For the fourth quarter just ended, revenues were up 14 percent to $9.0 million compared to $7.9 million for the like period in 1991. Earnings for the recent three months increased to $635,000 or 18 cents per share, from $324,000 or 12 cents per share for the like period the previous year, representing 96 percent and 50 percent increases, respectively. On a pro forma, fully taxed basis of 37.5 percent for both years, earning"We are extremely pleased with this performance, especially t he strong growth in operating profits, up 29 percent for both the fourth quarter and full year," said Richard E. Sabourin, president and chief executive officer of Bestop. "During 1992, U.S. small sport utility vehicle sales continued their upward trend, increasing their share of new vehicle sales for the third consecutive year. This trend contributed to a growth rate in Bestop's Aftermarket sales of 17 percent for 1992. Our mix of international business increased to 15 percent of total sales with growth in both the OEM and Aftermarket channels. Given the improved outlook for the auto industry, we look forward to a promising 1993. Our pursuit of the international market continues to be successful as we have added three additional OEM programs during 1992 which are expected to make a strong contribution to our sales picture in 1993."
 Bestop is a 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
 Fourth Quarter Ended Year Ended
 Dec. 26, Dec. 28, Dec. 26, Dec. 28,
 1992 1991 1992 1991
 Revenues $8,999,000 $7,921,000 $36,349,000 $30,669,000
 Earnings $635,000 $324,000 $2,843,000 $2,272,000
 Earnings Per
 Common Share (1) $.18 $.12 $.99 $.86
 Earnings Per
 Common Share (1)
 Pro Forma,
 Fully Taxed
 (37.5 pct.) $.16 $.08 $.84 $.54
 Weighted Average
 Common and Common
 Equivalent Shares
 Outstanding 3,442,119 2,532,210 2,863,987 2,532,210
 (1) Earnings per common equivalent shares reflect the payment of dividends on preferred stock of 13,615 during the fourth quarter ended Dec. 28, 1991, and $86,695 for the year ended Dec. 28, 1991.
 -0- 2/16/93
 /CONTACT: Wayne Brown of Carl Thompson Associates, 303-494-5472, for Bestop/
 (BTOP)


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

BB -- DV002 -- 6814 02/16/93 10:43 EST
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Date:Feb 16, 1993
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