1992 SAAB 900 Car Problem

I was at a stop light and my car made a sound as if the radiator gave way and lots of steam smoke through the hood. I drove through the light and down a side street and car lost power. I had it towed to my house and have not gone to a repair shop yet. Does this mean that I have ruined the engine? The temp gauge was not at the warning level but I did have issues of late with the car getting warm.
I want to keep the car and repair for my son who is almost at driving age.