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DE TOMASO INDUSTRIES, INC. REPORTS THIRD QUARTER RESULTS

 RED BANK, N.J., Nov. 15 /PRNewswire/ -- De Tomaso Industries, Inc. (NASDAQ: DTOM) reported results today for the third quarter and first nine months of 1993. The company and its consolidated subsidiaries had a net loss of $2,251,572 or ($1.09) per common share, for the three months ended Sept. 30, 1993, on sales of $4,547,120 as compared with a net loss of ($12,172,327) or ($5.91) per share, on sales of $22,491,195 in the third quarter of 1992. For the nine month period ended Sept. 30, 1993, the company and its consolidated subsidiaries had net income of $96,042,138 or $31.41 per common share on sales of $30,863,522. This compares with a net loss of ($36,387,422) equal to ($17.69) per share, on sales of $74,725,157 for the first nine months of 1992.
 Santiago De Tomaso, president of De Tomaso Industries, noted, "the sale in the second quarter of 1993 of the company's equity interest in Maserati has had a market effect on reducing losses from operations in the third quarter of this year."
 "While efforts to identify and negotiate with potential investors, joint ventures and buyers for the company's GBM motorcycle manufacturing subsidiary are proceeding, it would be premature to comment further on those discussions," said De Tomaso. "It is hoped that some resolution will be had within the next sixty to ninety days, at which time a shareholders' meeting will be held and plans for the future, including a possible liquidation or cash-out merger, will be discussed."
 De Tomaso Industries, Incorporated
 Operating Highlights (Unaudited)
 For the three months
 ended Sept. 30,
 1993 1992 1993 1992
 (Expressed in millions (Expressed in U.S.
 of Italian Lire except Dollars) (A)
 net per share)
 Net Sales Lit. 7,230 Lit. 35,761 $ 4,547,120 $ 22,491,195
 Costs and expenses
 incl. minority
 interests Lit. 10,810 Lit. 55,115 $ 6,798,742 $ 34,663,522
 Net Income(loss) Lit.(3,580) Lit.(19,354) $(2,251,572) $(12,172,327)
 Net Income(loss)
 per share(B) Lit.(1,740) Lit. (9,407) $ (1.09) $ (5.91)
 For the six months
 ended Sept. 30,
 Net Sales Lit. 49,073 Lit. 118,813 $ 30,863,522 $ 74,725,157
 Gain on Sale
 of Subsidiary
 Stock Lit.196,157 $123,369,182
 Costs and Expenses
 including minority
 interests Lit. 92,523 Lit. 176,669 $ 58,190,566 $ 111,112,579
 Net Income(loss) Lit.152,707 Lit.(57,856) $ 96,042,138 $(36,387,422)
 Net Income(loss)
 per share (B) Lit. 49,946 Lit.(28,120) $ 1.41 $ (17.69)
 (A) Translated in U.S. dollar equivalents at the exchange rate prevailing at Sept. 10, 1993. The U.S. dollar equivalent amounts are included solely for the convenience of the shareholders of De Tomaso Industries, Inc. It should not be construed that the assets and liabilities, expressed in U.S. dollar equivalents, can actually be realized in or extinguished by U.S. dollars at the exchange rates used in the accompanying translation because of fluctuations in the rate of exchange.
 (B) Net income per share for the nine months ended Sept. 30, 1993 is computed on the number of common stock and common stock equivalents outstanding at all times during such periods. Net loss per share for the nine months ended Sept. 30, 1992 and the three months ended Sept. 30, 1992 is computed on the number of shares of common stock outstanding, and without regard to the preferred stock outstanding because to do so would be anti-dilutive,
 -0- 11/15/93
 /CONTACT: Charles W. Kouns of Arnold Finnegan Martin, 804-697-4305, for De Tomaso Industries, or Howard E. Chase of De Tomaso Industries, 212-735-8679/
 (DTOM)


CO: De Tomaso Industries, Inc. ST: New Jersey IN: AUT SU: ERN

MM-DF -- CH020 -- 4625 11/15/93 16:03 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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