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LIDA REPORTS SECOND QUARTER RESULTS

 LIDA REPORTS SECOND QUARTER RESULTS
 NEW YORK, July 30 /PRNewswire/ -- Lida, Inc. (NASDAQ: LIDA) today


reported that the net earnings for the second quarter ended July 3, 1992 were $.6 million, or 8 cents per share on revenue of $23.5 million as compared with the 28 cents per share, or $2.1 million on revenue of $29.9 million for the second quarter of 1991. Before the effect of the development and start-up costs at its new dyeing and finishing facility at Gastonia, N.C., net income would have been 21 cents per share, according to Isaac Kier, president and chief executive officer.
 "Our results were affected by an overall decline in our printed fabrics businesses and the capacity constraints caused by the delays in bringing the Gastonia facility to a fully operational status. Certain environmental problems are being remedied which has continued to cause additional expense and delay," Kier said.
 "We continue to be optimistic about our growth opportunities as our additional capacity comes on stream, and with our technical innovations, we anticipate that our margins will be enhanced. The outlook for Lycra spandex blend fabrics remains very positive," he added.
 Six Month Results
 Net income for the first six months of 1992 was $2.4 million or 31 cents per share as compared with $3.8 million or 50 cents per share, assuming for comparative purposes that all 7.6 million shares currently outstanding had been outstanding for both periods. The decline was largely the result of the significant costs and delays associated with the development of the additional capacity at Gastonia as well as the decline in volume in the printed fabrics business. Before the effects of the costs associated with Gastonia, earnings per share would have been 44 cents in the first six months of 1992. Revenue was $46.6 million compared with $55.9 million in the first half of 1991.
 Lida is a leader in the design, manufacture and marketing of "topweight" fabrics, particularly Lycra spandex blend fabrics primarily used by its 650 customers in the production of women's sportswear, swimwear and activewear.
 LIDA INC.
 Condensed Statements of Income
 (Unaudited, in thousands, except per share data)
 Quarter ended Six months ended
 7/3/92 6/30/91 7/3/92 6/30/91
 Net sales $23,520 $29,948 $46,612 $55,882
 Cost of goods sold 19,400 22,720 36,952 42,717
 Gross profit 4,120 7,228 9,660 13,165
 SG&A expenses 2,828 3,158 5,060 5,889
 Income from operations 1,292 4,070 4,600 7,276
 Other income (expense)
 Interest, net (379) (529) (794) (1,014)
 Other, net 126 59 177 47
 Total (253) (470) (617) (967)
 Income bef. inc. taxes 1,039 3,600 3,983 6,309
 Prov. for income taxes 136 -- 136 --
 Income before pro forma
 income taxes 903 3,600 3,847 6,309
 Pro forma income taxes 274 1,422 1,433 2,492
 Pro forma net income 629 2,178 2,414 3,817
 Pro forma net income
 per share assuming
 7,593,700 shares
 outstanding $.08 $.28 $.31 $.50
 -0- 7/30/92
 /CONTACT: Isaac Kier, CEO of Lida, 212-391-0002/
 (LIDA) CO: Lida Inc. ST: New York IN: TEX SU: ERN


SM-TS -- NY020 -- 4989 07/30/92 10:12 EDT
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Date:Jul 30, 1992
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