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LUND INTERNATIONAL HOLDINGS ANNOUNCES FIRST QUARTER RESULTS

 MINNEAPOLIS, Oct. 15 /PRNewswire/ -- Lund International Holdings, Inc. (NASDAQ: LUND), announced its sales and earnings for the first quarter ended Sept. 30, 1993. Record first quarter sales of $7,837,422 were up 46 percent from the same period in fiscal 1993 due to expanded distribution, introduction of new products and continued strength of sales in the light duty truck segment. Earnings for the first quarter of $.22 were up 29.4 percent compared to the same period in fiscal 1993.
 Gross profits in the first quarter of fiscal 1994 were 42.8 percent of net sales as compared to 44.6 percent for fiscal 1993. The decrease in gross profits was primarily due to start up costs associated with the new plastics' lines. SG&A expenses for the first quarter increased slightly to 23.8 percent from 23.4 percent for the comparable period in fiscal 1993 due to a one time charge to the bad debt reserve for a customer filing under Chapter 11 of the Bankruptcy Code and increased legal expenses related to patent defense.
 One hundred percent of sales came from Lund Industries, Inc., a wholly owned subsidiary of Lund International Holdings, Inc. Lund Industries, Inc., is a manufacturer of aftermarket accessories for trucks, vans and sport utility vehicles. Its product lines are marketed through automotive warehouse distributors throughout the United States and Canada.
 The corporation is headquartered at 9055 Evergreen Blvd., Minneapolis, Minn. 55433.
 LUND INTERNATIONAL HOLDINGS, INC.
 COMPARATIVE CONDENSED FINANCIAL INFORMATION
 (Unaudited)
 Three Months Ended
 9/30/93 9/30/92
 Net sales $7,837,422 $5,361,372
 Percentage change 46
 Income before taxes 1,488,458 1,134,152
 Net income $943,087 $718,599
 Percentage change 31
 Earnings per share $.22 $.17
 -0- 10/15/93
 /CONTACT: Jay M. Allsup, Lund International Holdings, 612-780-2520/
 (LUND)


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

DB-DS -- MN009 -- 2915 10/15/93 16:41 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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