COLUMBUS, Ohio, Aug. 6 /EMWNews/ -- Core Molding

Technologies, Inc. (Amex: CMT) today announced results for the second

quarter and six months ended June 30, 2008.



    The Company recorded net income for the second quarter of 2008 of

$1,716,000, or $.25 per basic and $.24 per diluted share, compared with

$1,266,000, or $.12 per basic and diluted share, in the second quarter of

2007. In July 2007, the Company purchased 3,600,000 shares of its common

stock which reduced the shares outstanding and had a favorable impact on

earnings per share for the three month period ended June 30, 2008 compared

to the three month period ended June 30, 2007.



    Total net sales for the second quarter were $29,939,000, compared with

$38,295,000 in the same quarter of 2007. Product sales for the three months

ended June 30, 2008 increased 19 percent, to $29,395,000, from $24,685,000

for the same period one year ago. The increase in product sales is

primarily due to increased volume for new production models programs begun

in 2007 for certain medium and heavy duty truck customers and a slight

improvement in overall truck production levels. Tooling sales totaled

$544,000 for the second quarter 2008 versus $13,610,000 for the similar

time period in 2007. Revenue from tooling projects is sporadic in nature.



    For the first six months of 2008, net income was $2,580,000, or $.38

per basic and $.37 per diluted share, compared with $2,479,000, or $.24 per

basic and $.23 per diluted share, for the first six months of 2007. The

Company's purchase of its common stock as noted above also had a favorable

impact on earnings per share for the six month period ended June 30, 2008

compared to the six month period ended June 30, 2007. Total net sales for

the first half of 2008 were $59,024,000, compared with $69,524,000 in the

first half of 2007. Product sales for the first six months of 2008 were

$55,378,000 compared to $55,336,000 for the same period in 2007. Tooling

sales totaled $3,646,000 for the first six months of 2008 versus

$14,188,000 for the same period in 2007.



    The Company also announced that it has been added to the Russell

Microcap Index after the Russell Investment Group reconstituted its

comprehensive set of U.S. and global equity indexes on June 27, 2008. The

Company will hold its membership until Russell reconstitutes its indexes in

June 2009.



    "Considering the overall market conditions, we are generally pleased

with our results for the second quarter," said Kevin L. Barnett, president

and chief executive officer. "We benefited from the additional sales

related to new production models and have aggressively worked to control

our costs and work efficiently during these challenging economic times,"

continued Barnett. "Looking forward, we continue to position the Company to

support increased truck production levels which industry analysts forecast

for late 2008 to 2009," said Mr. Barnett.



    Core Molding Technologies is a compounder of sheet molding compound

(SMC) and molder of fiberglass-reinforced plastics. The Company produces

high quality fiberglass-reinforced, molded products and SMC materials for

varied markets, including medium and heavy-duty trucks, automobiles,

personal watercraft, and other commercial products. The Company offers

customers a range of manufacturing processes to fit various volume and

capital requirements. These processes include compression molding, resin

transfer molding (RTM), epoxy molding, spray-up and hand-lay-up. Core

Molding Technologies has its headquarters in Columbus, Ohio, and operates

plants in Columbus and Batavia, Ohio, Gaffney, South Carolina, and

Matamoros, Mexico. More information on Core Molding Technologies can be

found at http://www.coremt.com.



    This press release contains certain forward-looking statements within

the meaning of the federal securities laws. As a general matter,

forward-looking statements are those focused upon future plans, objectives

or performance as opposed to historical items and include statements of

anticipated events or trends and expectations and beliefs relating to

matters not historical in nature. Such forward-looking statements involve

known and unknown risks and are subject to uncertainties and factors

relating to Core Molding Technologies operations and business environment,

all of which are difficult to predict and many of which are beyond Core

Molding Technologies' control. These uncertainties and factors could cause

Core Molding Technologies' actual results to differ materially from those

matters expressed in or implied by such forward-looking statements.



    Core Molding Technologies believes that the following factors, among

others, could affect its future performance and cause actual results to

differ materially from those expressed or implied by forward-looking

statements made in this press release: business conditions in the plastics,

transportation, watercraft and commercial product industries; general

economic conditions in the markets, sometimes driven by federal and state

regulations (including engine emission regulations), in which Core Molding

Technologies operates; dependence upon two major customers as the primary

source of Core Molding Technologies' sales revenues; recent efforts of Core

Molding Technologies to expand its customer base; failure of Core Molding

Technologies' suppliers to perform their contractual obligations; the

availability of raw materials; inflationary pressures; new technologies;

competitive and regulatory matters; labor relations; the loss or inability

of Core Molding Technologies to attract and retain key personnel;

compliance changes to federal, state and local environmental laws and

regulations; the availability of capital; the ability of Core Molding

Technologies to provide on-time delivery to customers, which may require

additional shipping expenses to ensure on-time delivery or otherwise result

in late fees; risk of cancellation or rescheduling of orders; management's

decision to pursue new products or businesses which involve additional

costs, risks or capital expenditures; and other risks identified from

time-to-time in Core Molding Technologies other public documents on file

with the Securities and Exchange Commission, including those described in

Item 1A of the 2007 Annual Report to Shareholders on Form 10-K.










    CORE MOLDING TECHNOLOGIES, INC.



    Condensed Income Statement

     (in thousands, except per share data)



                                  Three Months Ended      Six Months Ended

                                  06/30/08   06/30/07   06/30/08   06/30/07

                                (Unaudited)(Unaudited)(Unaudited)(Unaudited)



    Product Sales                 $29,395    $24,685     $55,378    $55,336

    Tooling Sales                     544     13,610       3,646     14,188

    Net Sales                      29,939     38,295      59,024     69,524

    Cost of Sales                  24,318     33,690      49,087     60,093

    Gross Margin                    5,621      4,605       9,937      9,431

    Selling, General and

     Admin. Expense                 2,994      2,787       5,808      5,879

    Operating Income                2,627      1,818       4,129      3,552

    Interest (Expense)/Income

     - Net                           (133)       122        (362)       230

    Income before Taxes             2,494      1,940       3,767      3,782

    Income Tax Expense

                                      778        674       1,187      1,303

    Net Income                     $1,716     $1,266      $2,580     $2,479

    Net Income per Common Share

         Basic                      $0.25      $0.12       $0.38      $0.24

         Diluted                    $0.24      $0.12       $0.37      $0.23

    Weighted Average Shares

    Outstanding:

        Basic                       6,741     10,313       6,736     10,289

        Diluted                     7,065     10,618       7,056     10,617







    Condensed Consolidated Balance Sheet

    (in thousands)

                                     As of       As of

                                    6/30/08    12/31/07

                                  (Unaudited)

    Assets

    Cash                             $     -    $     -

    Accounts Receivable               17,170     12,470

    Inventories                        7,473      8,344

    Other Current Assets               3,395      3,218

    Property, Plant &

     Equipment - net                  29,191     30,216

    Deferred Tax Asset - net           6,176      6,174

    Other Assets                       1,237      1,273

    Total Assets                     $64,642    $61,695





    Liabilities and Stockholders' Equity

    Note Payable - Bank Line-

     of-Credit                        $2,162     $2,252

    Current Portion of Long-

     term Debt                         1,886      1,866

    Accounts Payable                   7,484      8,538

    Compensation and Related           4,090      3,350

     Benefits

    Accrued Liabilities and

     Other                             2,554      1,772

    Long-term Debt and

     Interest rate SWAPS               5,209      6,137

    Deferred Long-term Gain                -          -

    Post Retirement Benefits          16,599     15,953

     Liability

    Stockholders' Equity              24,658     21,827

    Total Liabilities and

     Stockholders' Equity            $64,642    $61,695