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LUND INTERNATIONAL HOLDINGS, INC. FOR THE THIRD QUARTER ENDED MARCH 31, 1994

? MINNEAPOLIS, April 18 /PRNewswire/ -- Lund International Holdings,


Inc. (NASDAQ-NMS: LUND) announced record sales and earnings for the

third quarter ended March 31, 1994. Net sales for the third quarter increased 42.8% to $9,494,723 from $6,647,752 for the same period last year. Net income was $1,344,271, or $.31 per share for the third quarter of fiscal 1994, compared to $929,310, or $.21 per share, for the same period in 1993. The company incurred approximately $80,000 in one- time expenses during the third quarter of fiscal 1994 in connection with its acquisition negotiations with Pardners Unlimited, Inc.
 Net sales and net income for the nine-month period ended March 31, 1994 were $25,366,304 and $3,422,016, respectively. These compared to $17,981,407 and $2,454,310 for the same period in fiscal 1993. Earnings per share were $.78 for the nine months ended March 31, 1994 compared to $.56 for the nine months ended March 31, 1993. The increase in net sales for both the three and nine-month periods was primarily attributed to broader product offerings; the continued popularity of the company's product lines; new marketing programs; and the increase in unit sales of light trucks.
 For the three months ended March 31, 1994, gross profit margin was 40.8% compared to 44.9% for the comparable period in fiscal 1993. Gross profit margin for the nine months ended March 31, 1994 was 42.5% compared to 45.1% for the comparable period in fiscal 1993. The decrease in gross profit margins for both periods was primarily caused by production inefficiencies related to the company having achieved maximum production capacity and an increased percentage of plastic products sold, which generally carry lower gross margins than fiberglass products. In fiscal 1995, Lund plans to construct and move to a new facility, thereby expanding its manufacturing capacity and capabilities and consolidating its office and warehouse facilities.
 Lund is a leading designer, manufacturer and marketer of a broad line of external appearance accessories for new and used light trucks, including pickup trucks, sport utility vehicles, minivans and other vans. The corporation is headquartered at 9055 Evergreen Boulevard, Minneapolis, Minn. 55433.
 LUND INTERNATIONAL HOLDINGS, INC.
 COMPARATIVE CONDENSED FINANCIAL INFORMATION
 (Unaudited)
 Three Months Ended Nine Months Ended
 3/31/94 3/31/93 3/31/94 3/31/93
 Net sales $9,494,723 $6,647,752 $25,366,304 $17,981,407
 Percentage change 42.8% -- 41.1% --
 Income before
 taxes 1,986,409 1,524,019 5,264,640 3,930,898
 Net income $1,344,271 $929,310 $3,422,016 $2,454,310
 Percentage change 44.7% -- 39.4% --
 Earnings per share $.31 $.21 $.78 $.56
 Percentage change 47.6% -- 39.3% --
 -0- 4/18/94
 /CONTACT: Jay M. Allsup of Lund International Holdings, 612-780-2520/
 (LUND)


CO: Lund International Holdings, Inc. ST: Minnesota IN: AUT FIN SU: ERN

DB-CP -- MN014 -- 8736 04/18/94 10:56 EDT
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Date:Apr 18, 1994
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