Thermwood Corporation (AMEX:THM) announced results for the third quarter of Fiscal 2000 and the nine-month period both ending April 30, 2000.

For the quarter, earnings were $73,553 or $.08 per share on sales of $7,735,905 versus earnings of $164,268 or $.13 per share on sales of $6,069,630 for the same quarter the previous year. Earnings for the current period were negatively impacted by an increase in interest expense of $152,758 when compared to the same period last year. The primary reason for the higher interest expense was interest costs and bond discount amortization associated with the debt for equity exchange completed April 27, 1999. For the nine month period ended April 30, 2000 earnings were $553,390 or $.56 per share versus earnings of $417,944 or $.30 per share for the same period the previous year. Earnings for the nine-month period in the current year also reflect an increase in interest and bond discount amortization of $478,079; however, a reduction in the number of outstanding shares that resulted from the debt for equity exchange when combined with improved overall earnings resulted in earnings per share increasing for the nine-month period.

During the quarter Thermwood began offering nine new fully engineered systems to the woodworking industry in addition to the two systems it was already offering. These systems allow customers to purchase a complete, integrated package already programmed to build specific end products. This eliminates the need for the customer to select, configure, integrate and program the sophisticated computer equipment. Thermwood management believes that this may make its products more attractive to companies that do not have the technical and engineering resources to perform these functions themselves.

Thermwood launched a new web site design that also contains a business to business web store. This store offers the CNC router supplies and support products that are also offered in the Company's printed catalog. In addition, web store called ToolingOnTheWeb.com was integrated with the Thermwood.com store to provide an industry source for tooling and tooling products. During the next several months the Company plans to broaden the offering and expand the services available from the web store.

Forward-looking statements in this document are made pursuant to the "Safe Harbor" provision of the Private Securities Litigation Act of 1995. Readers are cautioned that the actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties, including but not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, new products and technological changes, the Company's dependence on third-party suppliers and other risks detailed from time to time in certain of the Company's filings with the Securities and Exchange Commission.