Clarion Technologies Reports Third Quarter 2004 Results

Clarion Technologies Reports Third Quarter 2004 Results 


GRAND RAPIDS, Mich., Nov. 12  /PRNewswire-FirstCall/ -- Clarion Technologies,
Inc. (OTC:CLAR.OB) (BULLETIN BOARD: CLAR.OB)  today announced financial results
for the quarterly period ended September 25, 2004.

Clarion's 2004 sales for the third quarter were $30.6 million versus $26.1
million in the third quarter of 2003.  Sales for the first nine months of 2004
were $88.3 million versus $73.8 million for the same period of 2003.  The 20%
increase in revenue was driven primarily by sales of new products to existing
customers.  Also, $6.7 million of sales in the first nine months of 2004 was
generated from tooling purchased by customers for new programs versus $1.1
million in the same period of 2003.  Net income for the first nine months of
2004 was $558,000 versus $1.78 million for the same period of 2003.  The 2004
results include an asset impairment charge (non-cash) of $887,000 required to
adjust the net carrying value of Clarion's manufacturing facilities to its
estimated fair value.  Net loss attributable to the common shareholder for the
first nine months of 2004 was ($6.64) million versus ($4.29) million for the
same period of 2003.  The increase in net loss attributable to the common
shareholder was primarily driven by the increase in accrued interest and
dividends.

Clarion Technologies' President, Bill Beckman, commented, "Clarion continues to
grow revenues with our key customers.  With the opening of a new facility in
Ames, Iowa we will have some additional costs associated with launching over
$15 million in new business.  A successful operational start-up and execution
in Iowa are expected to provide additional customer opportunities in the near
future."

Clarion Technologies, Inc. operates four manufacturing facilities in Michigan,
one in South Carolina, and two in Iowa with approximately 170 injection molding
machines ranging in size from 55 to 1,500 tons of clamping force.  The
Company's headquarters are located in Grand Rapids, Michigan. Further
information about Clarion Technologies can be obtained on the web at
http://www.clariontechnologies.com/ or by contacting Mary Asadorian at (616)
233-6680.

With the exception of historical factual information, the statements made in
this press release include forward-looking statements.  These statements are
based upon current expectations and are made pursuant to the safe harbor
provisions of the Private Litigation Reform Act of 1995.  Such forward-looking
statements involve certain known and unknown assumptions, risks and
uncertainties that could cause actual results to differ materially from those
included in or contemplated by the statements.  These assumptions, risks and
uncertainties include, but are not limited to, those discussed or indicated in
the Company's Annual Report on Form 10-K for the year ended December 27, 2003,
and in all documents filed by the Company with the Securities and Exchange
Commission.  The Company disclaims any obligation to update any forward-
looking statements as a result of developments occurring after the date of this
press release. 

DATASOURCE: Clarion Technologies, Inc.



CONTACT:  Mary Asadorian of Clarion Technologies, Inc., [phone]



Web site: http://www.clariontechnologies.com/ 

Copyright