RNHDA Reinhold Industries CL A (MM)

Reinhold Industries Earns $0.39 per Share in Third Quarter 2003 SANTA FE SPRINGS, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Reinhold Industries, Inc. of Santa Fe Springs, California, today announced results for the third quarter 2003. Third quarter 2003 revenues were $15.9 million, up $2.3 million (17%) from third quarter 2002. Sales at NP Aerospace increased by 75% compared to 2002 due to increased shipments of body armor and other personal protection products. Sales increased 19% in the Aerospace business unit due primarily to increased shipments of rocket nozzles related to the U.S. Defense Department/Missile Defense Agency's Ground-based Midcourse Defense ("GMD") program. Sales for the CompositAir business unit decreased 54% compared to 2002 due to soft demand from their primary customer and continuing economic problems in the commercial airline industry. Sales increased 29% from 2002 in the Commercial business unit due to additional shipments of in-ground lighting and water filtration products. Sales increased 3% at the Bingham business unit. In the first nine months of 2003, revenues were $49.9 million, up $9.1 million (22%) compared to 2002. Sales at NP Aerospace increased by 75% compared to 2002 due to additional shipments of body armor and other personal protection products. Sales increased 26% in the Aerospace business unit due to additional shipments of components related to the Minuteman III Propellant Replacement Program and rocket nozzles related to the GMD program. Sales for the CompositAir business unit decreased 18% compared to 2002 due to continuing economic problems in the commercial airline industry. Sales increased 26% from 2002 in the Commercial business unit due to additional shipments of in-ground lighting and water filtration products. Sales at the Bingham business unit decreased by 1% from 2002. Net income for the first nine months of 2003 was $4.6 million, or $1.49 per share, compared to net income of $2.2 million, or $0.74 per share for the first nine months of 2002. Earnings per share computations reflect a 10% stock dividend effective May 29, 2003. "During the 3rd quarter of 2003, we surpassed our full year 2002 profitability," said Michael T. Furry, President and CEO of Reinhold. "Although our projected financial performance in the 4th quarter of 2003 is not expected to be comparable to the 4th quarter of 2002, we are very satisfied with our year-over-year profit improvement." This news release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties, and Reinhold's actual experience may differ materially from that anticipated in such statements. Factors that might cause such a difference include those discussed in Reinhold's filings with the Securities and Exchange Commission, including but not limited to its most recent proxy statement, Form 10-K and Form 10-Q. Reinhold Industries, Inc. is a manufacturer of advanced custom composite components, sheet molding compounds, and graphic arts and industrial rollers for a variety of applications in the United States and Europe. Reinhold Industries, Inc. (NASDAQ:RNHDA) (Amounts in Thousands, Except Per Share Data) 3rd Quarter Ended YTD 3rd Quarter Ended YTD 09/30/03 09/30/03 09/30/02 09/30/02 Sales $15,866 $49,944 $13,562 $40,823 Net Income $1,211 $4,615 $660 $2,184 EPS $0.39 $1.49 $0.22 $0.74 DATASOURCE: Reinhold Industries, Inc. CONTACT: Judy Sanson of Reinhold Industries, Inc., +1-562-944-3281

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