diff --git a/libltdl/config/ltmain.m4sh b/libltdl/config/ltmain.m4sh
index 8fc7a35..06dcdf6 100644
--- a/libltdl/config/ltmain.m4sh
+++ b/libltdl/config/ltmain.m4sh
@@ -1427,7 +1427,11 @@ func_mode_finish ()
       fi
 
       # Remove sysroot references
-      if $opt_dry_run; then
+      if ${opt_dry_run-false}; then
+        for lib in $libs; do
+          echo "removing references to $lt_sysroot and \`=' prefixes from $lib"
+        done
+      else
         tmpdir=`func_mktempdir`
         for lib in $libs; do
 	  sed -e "${sysroot_cmd} s/\([ ']-[LR]\)=/\1/g; s/\([ ']\)=/\1/g" $lib \
@@ -1435,10 +1439,6 @@ func_mode_finish ()
 	  mv -f $tmpdir/tmp-la $lib
 	done
         ${RM}r "$tmpdir"
-      else
-        for lib in $libs; do
-          echo "removing references to $lt_sysroot and \`=' prefixes from $lib"
-        done
       fi
     fi