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OAKWOOD HOMES CORPORATION REPORTS RECORD SALES, TOTAL REVENUES AND EARNINGS FOR SECOND QUARTER OF CURRENT FISCAL YEAR

 GREENSBORO, N.C., April 19 /PRNewswire/ -- Oakwood Homes Corporation (NYSE: OH) today reported record sales, total revenues and earnings for the quarter ended March 31, 1993, the second quarter of the 1993 fiscal year.
 Sales for the quarter were a record $54,032,000, an increase of 35 percent compared with $40,170,000 in the same period last year. Total revenues for the second quarter were a record $67,980,000, compared with $51,397,000, for the same quarter of last year, an increase of 32 percent. Net income was a record $5,073,000, compared with last year's $2,881,000, an increase of 76 percent.
 Earnings per share were a record 25 cents on both a primary basis and on a fully diluted basis compared with 21 cents on a primary basis and 19 cents on a fully diluted basis for the comparable period last year.
 For the first six months of fiscal 1993, sales were a record $96,889,000, compared with $73,530,000 for the like period a year ago, an increase of 32 percent. Total revenues for the current period were a record $124,408,000, compared with $95,438,000 for the comparable period last year, an increase of 30 percent. Net income in the current period was a record $8,766,000, compared with $5,273,000 last year, an increase of 66 percent. Earnings per share were a record 50 cents on a primary basis and 46 cents on a fully diluted basis compared with last year's net earnings of 38 cents on a primary basis and 35 cents on a fully diluted basis.
 "We are extremely pleased with these record operating results," said Nicholas J. St. George, president and chief executive officer. "Our second quarter performance is further verification that our business strategies are sound and on track. We feel our results are a clear indication of the company's potential for future performances."
 Oakwood Homes Corporation and its subsidiaries are engaged primarily in the production and sale of manufactured housing in North Carolina, South Carolina, Virginia, West Virginia, Tennessee, Georgia, Delaware, Kentucky, Texas and Ohio.
 OAWKOOD HOMES CORPORATION
 Comparative Summary of Earnings
 Three Months Ended March 31
 1993 1992
 Sales $ 54,032,000 $ 40,170,000
 Total revenues $ 67,980,000 $ 51,397,000
 Net income $ 5,073,000 $ 2,881,000
 Earnings per common share
 Primary $.25 $.21
 Fully diluted $.25 $.19
 Average shares outstanding
 Primary 20,339,000 13,929,000
 Fully diluted 20,417,000 18,030,000
 Six Months Ended March 31
 1993 1992
 Sales $ 96,889,000 $ 73,530,000
 Total revenues $124,408,000 $ 95,438,000
 Net income $ 8,766,000 $ 5,273,000
 Earnings per common share
 Primary $.50 $.38
 Fully diluted $.46 $.38
 Average shares outstanding
 Primary 17,641,000 13,733,000
 Fully diluted 19,367,000 18,030,000
 -0- 4/19/93
 /CONTACT: C. Michael Kilbourne of Oakwood Homes Corporation, 919-855-2345/
 (OH)


CO: Oakwood Homes Corporation ST: North Carolina IN: SU: ERN

PS -- NY087 -- 7419 04/19/93 12:42 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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