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OAKWOOD HOMES REPORTS RECORD SALES, TOTAL REVENUES AND EARNINGS FOR THIRD FISCAL QUARTER AND FOR THE NINE MONTHS ENDED JUNE 30, 1992

OAKWOOD HOMES REPORTS RECORD SALES, TOTAL REVENUES AND EARNINGS FOR
 THIRD FISCAL QUARTER AND FOR THE NINE MONTHS ENDED JUNE 30, 1992
 GREENSBORO, N.C., July 20 /PRNewswire/ -- Oakwood Homes Corporation (NYSE: OH) today reported record sales, total revenues and earnings for the third quarter of fiscal 1992, as well as for the nine months ended June 30, 1992.
 Sales for the third quarter were a record $52,134,000, compared with $34,482,000 for the same quarter of last year, an increase of 51 percent. Total revenues for the third quarter were a record $64,308,000, compared with $44,152,000 for the same quarter of last year, an increase of 46 percent. Net income for the quarter was a record $4,097,000, compared with last year's $2,675,000, an increase of 53 percent. Earnings per share, as adjusted to give effect retroactively to additional shares issued on May 19, 1992, as a result of the 3-for-2 stock split, were 29 cents on a primary basis and 26 cents fully diluted, compared with last year's 23 cents on a primary basis and 20 cents fully diluted.
 Sales for the nine months ended June 30, 1992, were $125,664,000, compared with $85,364,000 for the comparable period last year, an increase of 47 percent. Total revenues for the current period were $159,746,000 compared with $112,532,000 for the comparable period last year, an increase of 42 percent. Net income for the nine months was $9,370,000, compared with $5,801,000 for the same period last year, an increase of 62 percent. Earnings per share, as adjusted to give effect retroactively to additional shares issued on May 19, 1992, as a result of the 3-for-2 stock split, were 67 cents on a primary basis and 61 cents fully diluted, compared with 53 cents on a primary basis and 49 cents fully diluted.
 "Oakwood defies the norm by continuing to set records during the nation's continued economic uncertainty," according to Nicholas J. St. George, president and chief executive officer. "Our third quarter record performance is further verification that our business strategies are sound and on track."
 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, Texas, Delaware, Kentucky and Ohio.
 OAKWOOD HOMES CORPORATION
 Comparative Summary 1991
 Sales $ 52,134,000 $ 34,482,000
 Total revenues $ 64,308,000 $ 44,152,000
 Net income $ 4,097,000 $ 2,675,000
 Earnings per common share(A)
 Primary 29 cents 23 cents
 Fully-diluted 26 cents 20 cents
 Average shares outstanding(A)
 Primary 14,074,000 11,885,000
 Fully-diluted 18,009,000 15,956,000
 Period ended Nine months
 June 30, 1992 1991
 Sales $125,664,000 $ 85,364,000
 Total revenues $159,746,000 $112,532,000
 Net income $ 9,370,000 $ 5,801,000
 Earnings per common share(A)
 Primary 67 cents 53 cents
 Fully-diluted 61 cents 49 cents
 Average shares outstanding(A)
 Primary 13,894,000 10,845,000
 Fully-diluted 17,858,000 15,080,000
 (A) Adjusted retroactively to give effect to the 3-for-2 stock split in the form of a 50 percent stock dividend paid May 19, 1992.
 -0- 7/20/92
 /CONTACT: C. Michael Kilbourne of Oakwood Homes, 919-855-2345/
 (OH) CO: Oakwood Homes Corporation ST: North Carolina IN: CST SU: ERN


SH -- NY070 -- 0836 07/20/92 14:55 EDT
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Date:Jul 20, 1992
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