Reinhold Industries Earns $0.39 per Share in Third Quarter 2003

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., [phone]

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