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VOPLEX ANNOUNCES THIRD-QUARTER RESULTS

                 VOPLEX ANNOUNCES THIRD-QUARTER RESULTS
    TROY, Mich., Nov. 15 /PRNewswire/ -- VOPLEX Corporation (AMEX: VOT)


today announced a third-quarter loss of $3,538,963, or $1.33 per share on sales of $14,069,233, compared to a loss of $2,303,344, or $0.86 per share on sales of $12,006,022 for the same period a year ago.
    In a traditionally soft quarter, the company continued to be plagued by loss of volume due to the depressed automotive market coupled with the economic downturn, and start-up costs associated with the launch of new products.
    However, the new sales programs are beginning to replace and exceed sales that have been eroded due to programs being discontinued, but the company has been affected by adverse circumstances which have materially contributed to the third-quarter losses.
    Specifically, a lack of credit availability has resulted in raw material delivery interruptions.  These interruptions, coupled with production inefficiencies attributable to the launches of new sales programs, resulted in substantial additional costs beyond projected company expectations.
    The company is continuing to pursue alternative financing arrangements.  However, to date the company has been unsuccessful in these efforts.
                           VOPLEX CORPORATION
    (Unaudited)          Third Quarter             YTD Sept. 30
                       1991         1990         1991        1990
    Net sales      $14,069,233  $12,006,022  $37,732,070  $44,808,030
    Earnings (loss)
     before taxes   (3,544,862)  (2,374,924)  (8,510,452)  (2,728,125)
    Net earnings
     before equity
     in VHC profit
     (loss)         (3,544,862)  (1,979,924)  (8,510,452)  (2,213,125)
    Equity in VHC
     profit (loss)       5,899     (323,420)    (154,241)    (535,379)
    Net earnings   ($3,538,963) ($2,303,344) ($8,664,693) ($2,748,504)
    Net earnings
     per share           (1.33)        (.86)       (3.25)       (1.03)
    Average shares   2,667,886    2,667,886    2,667,886    2,667,886
     -0-                         11/15/91 R
    /CONTACT:  Marvin J. Fudalla of VOPLEX Corporation, 313-597-6346/
    (VOT) CO:  VOPLEX Corporation ST:  Michigan IN:  AUT SU:  ERN ML -- DE027 -- 1739 11/15/91 16:55 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 15, 1991
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