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ROTTLUND REPORTS SALES AND NET INCOME FOR SECOND QUARTER

 MINNEAPOLIS, Oct. 26 /PRNewswire/ -- The Rottlund Company, Inc. (NASDAQ-NMS: RHOM) today reported sales and net income for the second quarter ended September 30, 1993.
 Second quarter net income was $1,133,000 or $.20 per share, compared with $1,219,000 or $.28 per share in the same period last year. Second quarter revenues were $24,420,000 versus $24,570,000 a year earlier. Average shares outstanding increased to 5,645,000 versus 4,350,000 ended Sept. 30, 1993 in the same period last year, accounting for a substantial portion of the decrease in net income per share.
 For the six months, Rottlund reported net income of $2,531,000 or $.45 per share, compared with $2,342,000 or $.54 per share a year earlier. Revenues for the six months were $52,169,000, compared with $49,018,000 last year.
 Further, Rottlund disclosed that the name of its new mortgage subsidiary is North Coast Mortgage, Inc. According to company officials, Rottlund will be following the trend among large national home builders, who offer mortgages to their home buyers.
 The Rottlund Company is based in Minneapolis and designs, builds and markets, detached single family homes, attached townhomes and villas in Minneapolis/St. Paul; Des Moines, Iowa; and Naples, Florida.
 THE ROTTLUND COMPANY, INC.
 Three Months Ended
 9/30/93 9/30/92
 Revenues $24,420,000 $24,570,000
 Net income $1,133,000 $1,219,000
 Earnings per share $0.20 $0.28
 Average shares outstanding 5,645,000 4,350,000
 Six Months Ended
 9/30/93 9/30/92
 Revenues $52,169,000 $49,018,000
 Net income $2,531,000 $2,342,000
 Earnings per share $0.45 $0.54
 Average shares outstanding 5,645,000 4,350,000
 -0- 10/26/93
 /CONTACT: Larry Shapiro of Rottlund Homes, 612-571-0304/
 (RHOM)


CO: Rottlund Company, Inc. ST: Minnesota IN: CST SU: ERN

DB-AL -- MN014 -- 6859 10/26/93 14:19 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
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