Flamemaster Reports a Decline in Earnings On a 4.2 Percent Increase in Sales for Fiscal Year Ended September 30, 2007


PACOIMA, Calif., Dec. 20, 2007 (PRIME NEWSWIRE) -- Flamemaster Corporation (Pink Sheets:FAME) reported net income of $363,169 on sales of $6,287,239 for the year ended September 30, 2007. In the previous year earnings were $787,311 on sales of $6,036,669. Per share results were $.30 fully diluted in 2007 vs. $.64 fully diluted in 2006.

For the 4th quarter ended September 30, 2007, the Company reported a net income of $181,419 on sales of $1,436,828, compared to a net profit of $316,584 on sales of $1,597,439 for the same period last year. Per share results for the quarter ended September 30, 2007 were $.15 compared to a net profit of $.26 per share for the quarter ended September 30, 2006.

During the 1st quarter of fiscal 2007 (quarter ending December 31, 2006) The Company relocated to a new facility that is nearly twice as large as the previous facility. The costs associated with the move and the disruption of production severely impacted the results for the fiscal year.

Flamemaster Corporation is a specialty chemical manufacturer servicing the aerospace and defense industries with high performance aircraft sealants and coatings.

The release herein may contain or identify a forward-looking statement. These statements are based on a number of assumptions and estimates, which are inherently subject to uncertainty and contingencies, many of which are beyond the control of the Company and reflect future business decisions, which are subject to change.


 FLAMEMASTER REPORTS EARNINGS
 FOR FISCAL YEAR & 4th QUARTER

                     12 Months    12 Months    3 Months     3 Months
                    Fiscal Year  Fiscal Year  4th Quarter  4th Quarter
                     9/30/2007    9/30/2006   12/31/2007   12/31/2006
                    -----------  -----------  -----------  -----------

 Sales               6,287,239    6,036,669    1,436,828    1,597,439

 Net income            363,169      787,311      181,419      316,584

 Net income per 
  share (fully 
  diluted)                $.30         $.64         $.15         $.26

            

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