1992 Mitsubishi Truck no start

Th.E truck cranks and cranks and cranks, but won't fire. We have spark. We have rotor pointing to number one dist. Terminal when number one cyc. Is at top dead center on compression stroke. Timing belt is in tact. We have fuel at fuel rail. We have compression readings of around 150 lbs. Appears to be flooding badly. With spark plugs out and cranking the engine we get fuel spray out the plug holes. Also while cranking with plugs in we get fuel soaking at the exaust flange at mfld. Truck has flooded before, but cleared up for a while. Now it just won't fiire. Thank-you