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DYNAMIC HOMES REPORTS STRONG 1992 EARNINGS

 DETROIT LAKES, Minn., March 8 /PRNewswire/ -- Dynamic Homes, Inc. today reported 1992 earnings of $272,000 or $.13 per share, an increase of 143 percent from $112,000 or $.05 per share in 1991. Net sales rose 6 percent in 1992 to $7,742,000, from $7,311,000 in 1991.
 Vern Muzik, Dynamic's president, said 1992 marked the company's third consecutive year of higher sales and earnings. He said the company's higher earnings resulted from the year's increased sales volume, further strengthening of the company's six-state network of builder-dealers, an improved gross margin, and substantially reduced operating expenses.
 He said the improved 1992 earnings were attained despite the high expenses related to an out-of-court settlement in November of a lawsuit dating back to 1989. This settlement and related legal expenses significantly reduced the company's 1992 earnings.
 The company's sales for the fourth quarter of 1992 totaled $2,149,000, up modestly from $2,088,000 in the year-earlier period. Fourth quarter earnings came to $185,000 or $.09 per share, an increase of 46 percent from $127,000 or $.06 per share a year ago.
 Inclement weather and restrictive road conditions prevented the company from transporting several finished homes in December 1992, causing a shortfall from planned sales levels for the fourth quarter and full year. These delayed units will be delivered in the first quarter of 1993, which Muzik said should be a good period for the company.
 Dynamic Homes, Inc. is a leading regional builder of modular single- family homes, multi-family dwellings and commercial buildings. The company's products are marketed through a network of more than 60 builder-dealers in Minnesota, Iowa, North Dakota, South Dakota, Wisconsin and Wyoming. The company's common stock is traded on the local over-the-counter market.
 DYNAMIC HOMES, INC.
 CONDENSED STATEMENT OF OPERATIONS
 Three Months Ended 12 Months Ended
 12/26/92 12/28/91 12/26/92 12/28/91
 Operating revenues:
 Single-family housing $1,177,000 $1,543,000 $5,470,000 $5,022,000
 Multi-family commercial 179,000 346,000 1,596,000 1,579,000
 Transportation 112,000 127,000 420,000 440,000
 Other 81,000 72,000 256,000 270,000
 Total revenues NET 2,149,000 2,088,000 7,742,000 7,311,000
 Operating expenses:
 Cost of sales 1,550,000 1,524,000 5,788,000 5,507,000
 Transportation 139,000 147,000 538,000 517,000
 Marketing 119,000 109,000 417,000 499,000
 Administration 145,000 164,000 569,000 596,000
 Total operating 1,953,000 1,944,000 7,312,000 7,119,000
 Operating income (loss) 196,000 144,000 430,000 192,000
 Non-operating (income)
 expense 11,000 17,000 158,000 80,000
 Net income (loss) $185,000 $127,000 $272,000 $112,000
 Net income (loss) per share $.09 $.06 $.13 $.05
 Avg. shares outstanding 2,108,900 2,108,900 2,108,900 2,108,900
 -0- 3/8/93
 /CONTACT: Vern Muzik, president of Dynamic Homes, 218-847-2611/


CO: Dynamic Homes, Inc. ST: Minnesota IN: CST SU: ERN

KH -- MN010 -- 4004 03/08/93 12:18 EST
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Publication:PR Newswire
Date:Mar 8, 1993
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