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DMI FURNITURE REPORTS RECORD FIRST QUARTER SALES

 LOUISVILLE, Ky., Jan. 12 /PRNewswire/ -- DMI Furniture, Inc. (NASDAQ: DMIF), announced today that sales for the first quarter of fiscal 1993 ended November 28, 1992 were a record for its current operations, and that net income more than doubled that of a year ago.
 Sales for the first quarter of fiscal 1993 were $13,293,000, up 4 percent over sales of $12,786,000 during the first quarter of fiscal 1992. Net income increased by 105 percent to $503,000 as compared to $245,000 a year ago.
 Earnings per common share increased to $.09 for the quarter from $.04 for the same quarter in fiscal 1992.
 Donald D. Dreher, President and Chief Executive Officer, said: "Significant shipments to several of the Company's major accounts, combined with a general increase in demand for home furnishings, enabled DMI to set a new record for quarterly sales. The recent addition of several new major accounts to our customer base strengthens our optimism about a strong fiscal 1993."
 DMI FURNITURE, INC.
 STATEMENTS OF INCOME
 (amounts in thousands)
 Three Months Ended
 Nov. 28, 1992 Nov. 30, 1991
 Net Sales $13,293 $12,786
 Cost of Sales 10,649 10,318
 Gross Profit 2,644 2,468
 Selling, General and
 Administrative Expenses 1,849 1,889
 795 579
 Interest expense -250 -314
 Income before income taxes 545 265
 Provision for income taxes -42 -20
 Net income $503 $245
 Earnings per common share $.09 $.04
 -0- 1/12/93
 /CONTACT: Joseph G. Hill of DMI Furniture, Inc., 502-426-4351/
 (DMIF)


CO: DMI Furniture, Inc. ST: Kentucky IN: REA SU:

CM -- CH001 -- 3870 01/12/93 09:17 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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