Dayton Superior Reports Record Fourth Quarter and Full Year 2007 Results

DAYTON, Ohio--(Business Wire)--
Dayton Superior Corporation (NASDAQ: "DSUP"), the leading North
American provider of specialized products for the non-residential
concrete construction market, reported today its highest fourth
quarter and full year income from operations.

The following results for its fourth quarter ended December 31,
2007, are compared with results for the similar period of 2006:

-- Net sales were $116 million, equal to 2006.

-- Income from operations was $11 million compared to $3 million
in 2006, reflecting gains in product sales gross profit, as
favorable pricing and ongoing cost improvement programs
continued to expand margins;

-- Net loss of $3 million, or $0.18 per share, improved from net
loss of $10 million, or $0.91 per share. The net loss includes
$2 million, or $0.12 per share, of non-recurring items.

Eric R. Zimmerman, Dayton Superior's President and Chief Executive
Officer, said, "Our operating performance improvement trends that
began in 2006 are evident in our fourth quarter and full year results.
Considering that the construction industry experienced challenges
through most of the year, and that non-residential construction
activity was flat to down, these results validate the work of the
Dayton Superior team to improve our processes, customer service, and
operating results."

For the quarter, product sales of Dayton Superior's concrete
construction related products increased 1% to $89 million, stemming
both from higher selling prices and higher unit volume. Equipment
rental revenues decreased 16% to $15 million, while the revenues from
sales of used rental equipment increased 12% to $11 million.

Gross profit on product sales was $22 million, or 25% of product
sales, a 400 basis point improvement over the fourth quarter of 2006,
as the Company's cost saving initiatives continued to outpace
inflation. Rental gross profit was $7 million, or 47% of rental
revenue, compared with $8 million, or 43% of rental revenue, in the
fourth quarter of 2006. Fourth quarter gross profit as a percent of
sales of used rental equipment increased to 85% from 78% in last
year's fourth quarter.

Selling, general, and administrative expenses at $27 million and
23% of sales were down from $31 million and 27% of sales in 2006 due
to lower consulting fees and stock compensation expense.

Other expenses of $2 million in the fourth quarter related to
terminated merger discussions.

The following results for all of 2007, are compared with results
for the similar period of 2006:

-- Net sales were $483 million, compared to $479 million for
2006.

-- Income from operations was $42 million compared to $33 million
in 2006, reflecting gains in product sales gross profit, as
favorable pricing and ongoing cost improvement programs
continued to expand margins;

-- Net loss of $7 million, or $0.37 per share, improved from net
loss of $18 million, or $1.76 per share, despite $2 million,
or $0.12 per share, of non-recurring items.

Dayton Superior is proceeding with the previously reported
refinancing of its revolving credit facility and 10-3/4% Senior Second
Secured Notes, and expects to close this refinancing in the first
quarter of 2008.

"The annual and quarterly improvement trends in gross margins
validate our strategy and our direction. Gross margin, less SG&A,
showed a 40% improvement for the year. In short, 2007 was a very solid
operating year for Dayton Superior. We expect our regionalization, new
product development, and manufacturing initiatives to continue to lead
improved operating results as we focus on those activities that are
closest to our customers. As 2008 unfolds, Dayton Superior is
positioned well and looking forward to another record year," Zimmerman
said.

Dayton Superior has determined that it overstated Deferred Income
Taxes in 2004 by approximately $11 million and, as a result, had
reflected higher liabilities and higher Shareholders' Deficit in
periods from 2004 and subsequent by that amount. The overstatement
resulted from failing to reduce the tax valuation allowance for
accelerated depreciation that will reverse within net operating loss
carry forward periods. As a result, Dayton Superior restated financial
statements subsequent to December 31, 2004 to reflect lower total
liabilities and lower shareholders' deficit by approximately $11
million. The restatement has been reflected in the summary balance
sheet attached to this release. The restatement does not affect Dayton
Superior's consolidated statement of operations for any period
subsequent to 2004.

The Company has scheduled a conference call at 11:00 a.m. ET,
Friday, February 15, 2008 to discuss the fourth quarter and full year
2007 results. The conference call can be accessed by dialing
1-800-226-0630 and entering ID#33887790 at least ten minutes before
the start of the call. A replay of the call will be available from
2:00 p.m. ET on Friday, February 15, 2008 through 11:59 p.m. EDT on
Monday, February 25, 2008 by calling 1-800-642-1687 or 1-706-645-9291
and entering ID#33887790.

Dayton Superior is the leading North American provider of
specialized products consumed in non-residential, concrete
construction, and we are the largest concrete forming and shoring
rental company serving the domestic, non-residential construction
market. Our products can be found on construction sites nationwide and
are used in non-residential construction projects, including:
infrastructure projects, such as highways, bridges, airports, power
plants and water management projects; institutional projects, such as
schools, stadiums, hospitals and government buildings; and commercial
projects, such as retail stores, offices and recreational,
distribution and manufacturing facilities.

Note: Certain statements made herein concerning anticipated future
performance are forward-looking statements. These forward-looking
statements are based on estimates, projections, beliefs and
assumptions of management and are not guarantees of future
performance. Actual future performance, outcomes and results may
differ materially from those expressed in forward-looking statements
as a result of a number of important factors. Representative examples
of these factors include (without limitation):

-- depressed or fluctuating market conditions for our products
and services;

-- operating restrictions imposed by our existing debt;

-- increased raw material costs and operating expenses;

-- our ability to increase manufacturing efficiency, leverage our
purchasing power and broaden our distribution network;

-- the competitive nature of our industry in general, as well as
our specific market areas;

-- changes in prevailing interest rates and the availability of
and terms of financing to fund the anticipated growth of our
business.

This list of factors is not intended to be exhaustive, and
additional information concerning relevant risk factors can be found
in Dayton Superior's Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q, and current Reports on Form 8-K filed with the Securities
and Exchange Commission.

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Dayton Superior Corporation
Summary Income Statement, Unaudited
(amounts in thousands, except per share amounts)

For the fiscal quarter ended:
December 31, 2007 December 31, 2006
Amount % of Amount % of
Sales Sales
--------- ------- --------- -------

Product Sales $ 88,727 76.7% $ 87,565 75.4%
Rental Revenue 15,460 13.4% 18,341 15.8%
Used Rental Equipment Sales 11,410 9.9% 10,217 8.8%
------- ------- ------- -------
Net Sales 115,597 100.0% 116,123 100.0%
------- ------- ------- -------

Product Cost of Sales 66,786 75.3% 69,359 79.2%
Rental Cost of Sales 8,166 52.8% 10,515 57.3%
Used Rental Equipment Cost of Sales 1,737 15.2% 2,271 22.2%
------- ------- ------- -------
Cost of Sales 76,689 66.3% 82,145 70.7%
------- ------- ------- -------
Product Gross Profit 21,941 24.7% 18,206 20.8%
Rental Gross Profit 7,294 47.2% 7,826 42.7%
Used Rental Equipment Gross Profit 9,673 84.8% 7,946 77.8%
------- ------- ------- -------
Gross Profit 38,908 33.7% 33,978 29.3%

Selling, General & Administrative
(SG&A) 27,045 23.4% 30,805 26.6%
------- ------- ------- -------
Gross Profit Less SG&A(1) 11,863 10.3% 3,173 2.7%

Facility Closing and Severance
Expenses 1,162 1.0% 50 ---
(Gain) Loss on Disposals of
Property, Plant, and Equipment 82 0.1% 271 0.2%
------- ------- ------- -------
Income from Operations 10,619 9.2% 2,852 2.5%

Interest Expense, net 11,757 10.2% 12,556 10.8%
Other Expense 2,181 1.9% 447 0.4%
------- ------- ------- -------
Income (Loss) Before Income Taxes (3,319) (2.9%) (10,151) (8.7%)
Provision for Income Taxes (17) --- (65) (0.1%)
------- ------- ------- -------
Net Income (Loss) $ (3,302) (2.9%) $(10,086) (8.6%)
======= ======= ======= =======

Weighted Average Shares Outstanding 18,314 11,124
------- -------
Basic and Diluted Net Income (Loss)
Per Share $ (0.18) $ (0.91)
======= =======

Rental Depreciation $ 4,478 $ 4,929
Other Depreciation 2,224 2,016
------- -------
Total Depreciation $ 6,702 $ 6,945
======= =======
Rental Gross Profit Without
Depreciation 11,772 76.1% 12,755 69.5%

(1) Gross Profit Less SG&A is calculated and reconciled to Gross
Profit ($38,908 and $33,978, respectively, for the three months ended
December 31, 2007 and December 31, 2006) by subtracting SG&A expenses
($27,045 and $30,805, respectively, for the three months ended
December 31, 2007 and December 31, 2006) from Gross Profit.
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Dayton Superior Corporation
Summary Income Statement, Unaudited
(amounts in thousands, except per share amounts)

For the year ended:
December 31, 2007 December 31, 2006
Amount % of Amount % of
Sales Sales
--------- ------- --------- -------

Product Sales $398,404 82.4% $388,100 81.0%
Rental Revenue 59,671 12.4% 62,769 13.1%
Used Rental Equipment Sales 24,883 5.2% 28,441 5.9%
------- ------- ------- -------
Net Sales 482,958 100.0% 479,310 100.0%
------- ------- ------- -------

Product Cost of Sales 292,946 73.5% 296,351 76.4%
Rental Cost of Sales 33,295 55.8% 36,845 58.7%
Used Rental Equipment Cost of Sales 4,951 19.9% 7,706 27.1%
------- ------- ------- -------
Cost of Sales 331,192 68.6% 340,902 71.1%
------- ------- ------- -------

Product Gross Profit 105,458 26.5% 91,749 23.6%
Rental Gross Profit 26,376 44.2% 25,924 41.3%
Used Rental Equipment Gross Profit 19,932 80.1% 20,735 72.9%
------- ------- ------- -------
Gross Profit 151,766 31.4% 138,408 28.9%

Selling, General & Administrative
(SG&A) 106,882 22.1% 106,453 22.2%
------- ------- ------- -------
Gross Profit Less SG&A(1) 44,884 9.3% 31,955 6.7%

Facility Closing and Severance
Expenses 1,753 0.4% 423 0.1%
(Gain) Loss on Disposals of
Property, Plant, and Equipment 560 0.1% (1,504) (0.3%)
------- ------- ------- -------
Income from Operations 42,571 8.8% 33,036 6.9%

Interest Expense, net 46,526 9.6% 50,096 10.5%
Other Expense 2,300 0.5% 555 0.1%
------- ------- ------- -------
Income (Loss) Before Income Taxes (6,255) (1.3%) (17,615) (3.7%)
Provision for Income Taxes 437 0.1% 394 0.1%
------- ------- ------- -------
Net Income (Loss) $ (6,692) (1.4%) $(18,009) (3.8%)
======= ======= ======= =======

Weighted Average Shares Outstanding 18,284 10,225
------- -------
Basic and Diluted Net Income (Loss)
Per Share $ (0.37) $ (1.76)
======= =======

Rental Depreciation $ 16,623 $ 19,156
Other Depreciation 8,561 6,763
------- -------
Total Depreciation $ 25,184 $ 25,919
======= =======
Rental Gross Profit Without
Depreciation 42,999 72.1% 45,080 71.8%

(1) Gross Profit Less SG&A is calculated and reconciled to Gross
Profit ($151,766 and $138,408 respectively, for the fiscal year ended
December 31, 2007 and December 31, 2006) by subtracting SG&A expenses
($106,882 and $106,453, respectively, for the fiscal year ended
December 31, 2007 and December 31, 2006) from Gross Profit.
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Dayton Superior Corporation
Summary Balance Sheet, Unaudited
(in thousands)

As of:
Restated
December 31, December 31,
2007 2006
Summary Balance Sheet:
Cash $ 3,381 $ 26,813
Accounts Receivable, Net 68,593 71,548
Inventories 66,740 58,396
Other Current Assets 6,458 6,230
------------- ------------
Total Current Assets 145,172 162,987

Rental Equipment, Net 67,640 63,766
Property & Equipment, Net 56,812 45,697
Goodwill & Other Assets 47,629 49,188
------------- ------------
Total Assets $ 317,253 $ 321,638
============= ============

Revolving Credit Facility $ - $ -
Current Portion of Long-Term Debt 172,597 2,551
Accounts Payable 39,204 40,883
Other Current Liabilities 34,933 38,195
------------- ------------
Total Current Liabilities 246,734 81,629

Other Long-Term Debt 152,000 319,899
Other Long-Term Liabilities 8,162 10,332
------------- ------------
Total Liabilities 406,896 411,860
------------- ------------
Stockholders' Deficit (89,643) (90,222)
------------- ------------
Total Liabilities & Stockholders' Deficit $ 317,253 $ 321,638
============= ============
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Dayton Superior Corporation
Summary Cash Flow Statement, Unaudited
(in thousands)

For the year ended:
December 31, December 31,
2007 2006

Net Loss $ (6,692) $ (18,009)
Non-Cash Adjustments to Net Loss 14,638 10,772
Changes in Assets and Liabilities (9,121) 10,987
------------ ------------
Net Cash Used in Operating Activities (1,175) 3,750
------------ ------------

Property, Plant and Equipment Additions, Net (19,905) (13,216)
Rental Equipment Additions, Net (1,515) 1,997
------------ ------------
Net Cash Used in Investing Activities (21,420) (11,219)
------------ ------------

Net Repayments Under Revolving Credit
Facility - (48,700)
Repayments of Other Long-Term Debt (2,318) (2,880)
Financing Costs Incurred (712) (1,272)
Issuance of Shares of Common Stock 791 87,009
Net Change in Loans to Stockholders 1,183 180
------------ ------------
Net Cash Provided By Financing Activities (1,056) 34,337
------------ ------------

Other, Net 219 (55)
------------ ------------
Net Increase (Decrease) in Cash $ (23,432) $ 26,813
============ ============
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Dayton Superior Corporation
EBITDA and Reconciliation to Net Income (Loss), Unaudited
(in thousands)

For the three For the year ended:
months ended:
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2007 2006 2007 2006
--------- --------- --------- ---------

Net Income (Loss) $ (3,302) $(10,086) $ (6,692) $(18,009)
Provision for Income Taxes (17) (65) 437 394
Interest Expense 12,023 12,619 47,019 49,983
Interest Income (266) (63) (493) 113
Depreciation Expense 6,702 6,945 25,184 25,919
Amortization of Intangibles 114 75 247 560
---------------------------------------
EBITDA $ 15,254 $ 9,425 $ 65,702 $ 58,960
=======================================

EBITDA was reduced (increased)
by the following items:
(Gain) Loss on Disposals of
Property, Plant and Equipment 82 271 560 (1,504)
Facility Closing and Severance
Expenses 1,162 50 1,753 423
Stock Compensation Expense 717 1,596 2,779 2,249
Other Expense 2,156 447 2,265 555
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EBITDA, a metric used by management to measure operating
performance, is defined as earnings (loss) before interest expense,
interest income, income taxes, depreciation and amortization of
intangibles. Dayton Superior presents EBITDA because our management
believes that EBITDA is frequently used by securities analysts,
investors and other interested parties in the evaluation of companies
in its industry, some of which present EBITDA when reporting their
results. Dayton Superior's management regularly evaluates our
performance as compared to other companies in our industry that have
different financing and capital structures and/or tax rates by using
EBITDA. Dayton Superior believes EBITDA allows for meaningful
company-to-company performance comparisons by adjusting for factors
such as interest expense, depreciation, amortization and income taxes,
which often vary from company-to-company. In addition, Dayton Superior
uses EBITDA in evaluating acquisition targets. EBITDA is not a
recognized term under GAAP and does not purport to be an alternative
to net income, operating income or any other performance measures
derived in accordance with GAAP. Since not all companies use identical
calculations, this presentation of EBITDA may not be comparable to
other similarly titled measures of other companies.

Dayton Superior Corporation
Edward J. Puisis, 937-428-7172
Executive Vice President & CFO
Fax: 937 428-9115

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