Summa Reports 1st Quarter Earnings

Summa Reports 1st Quarter Earnings 


TORRANCE, Calif., Dec. 23  /PRNewswire-FirstCall/ -- Summa Industries
(NASDAQ:SUMX) reports net income of $610,000, or $.15 per share, on sales of
$28,238,000 for the three months ended November 30, 2004, versus net income of
$830,000, or $.15 per share, on sales of $25,926,000 for the three months ended
November 30, 2003.

                                            Three months ended November 30
                                                      2004            2003

  Sales                                        $28,238,000     $25,926,000

  Net income                                      $610,000        $830,000

  Diluted earnings per share                          $.15            $.15



A conference call to discuss the results will be held at 9:00 a.m., Pacific
Time, Thursday, December 23, 2004.  The call-in number is [phone].  The
conference call will also be simulcast and archived by http://www.vcall.com/.

Summa Industries manufactures proprietary engineered plastic products for a
broad spectrum of industrial and commercial markets.  The Company has
manufacturing facilities across North America.  Products, many of which are
unique or patented, are shipped to customers worldwide.

For further information, contact Jim Swartwout, [phone]; Fax (310)
792-7079; http://www.summaindustries.com/; or .

                             Summa Industries
                  CONDENSED CONSOLIDATED BALANCE SHEETS

  ASSETS                             November 30,   August 31, November 30,
                                            2003         2004         2004
  Current assets:
      Cash                              $297,000   $1,248,000     $832,000
      Accounts receivable             15,681,000   18,227,000   16,371,000
      Inventories                     13,198,000   14,749,000   15,118,000
      Prepaid expenses and other       3,060,000    3,782,000    4,512,000
  Total current assets                32,236,000   38,006,000   36,833,000
  Property, plant and equipment,
   net                                25,624,000   31,053,000   33,086,000
  Goodwill and other assets, net      11,879,000   11,058,000   11,026,000

        Total assets                 $69,739,000  $80,117,000  $80,945,000
  LIABILITIES AND STOCKHOLDERS'
   EQUITY
  Current liabilities:
     Accounts payable                 $6,149,000   $9,088,000   $6,543,000
     Accrued liabilities               4,504,000    7,429,000    6,744,000
     Current maturities of long-term
      debt                             3,448,000    2,195,000    2,702,000
        Total current liabilities     14,101,000   18,712,000   15,989,000
  Long-term debt, net of current
   maturities                         16,247,000   28,663,000   31,591,000
  Other long-term liabilities          2,594,000    2,508,000    2,500,000
  Manditorily redeemable preferred
   stock                               6,287,000          ---          ---
  Minority interest in subsidiary            ---      205,000      205,000
  Total stockholders' equity          30,510,000   30,029,000   30,660,000

        Total                        $69,739,000  $80,117,000  $80,945,000


                             Summa Industries
                 CONDENSED CONSOLIDATED INCOME STATEMENTS

                                            Three months ended November 30
                                                        2003          2004
  Net sales                                      $25,926,000   $28,238,000
  Cost of sales                                   19,555,000    21,793,000
  Gross profit                                     6,371,000     6,445,000
  Selling, general, administrative and other
   expenses                                        4,820,000     5,118,000
  Operating income                                 1,551,000     1,327,000
  Interest expense                                   305,000       367,000
  Income before income taxes                       1,246,000       960,000
  Provision for income taxes                         416,000       350,000
  Net income                                        $830,000      $610,000
  Preferred stock accretion                         $184,000          $---
  Net income available to stockholders:             $646,000      $610,000
  Earnings per common share
         Basic                                          $.15          $.15
         Diluted                                        $.15          $.15
  Weighted average common shares outstanding
        Basic                                      4,287,000     3,984,000
        Diluted                                    4,355,000     4,064,000


DATASOURCE: Summa Industries



CONTACT:  Jim Swartwout of Summa Industries, [phone], or fax,

[phone], 



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

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

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