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ADVANCED MEDICAL REPORTS FOURTH QUARTER AND YEAR-END RESULTS

 ADVANCED MEDICAL REPORTS FOURTH QUARTER AND YEAR-END RESULTS
 SAN DIEGO, March 23 /PRNewswire/ -- Advanced Medical, Inc. (AMEX: AMA) today reported a loss for the fourth quarter of 1991 of $338,000 or $(.03) per share before an extraordinary charge of $(.10) per share compared with a loss of $5,875,000 or $(.50) per share for the comparable period of 1990. The extraordinary loss resulted from a charge related to the early retirement of $13 million of IMED's 14 percent subordinated debt from the proceeds of the October 1991 Kabi Pharmacia transactions. Revenues were $36,476,000 versus $36,371,000 in the like period of 1990. The improvement in the quarter was a result of cost reductions and consolidating activities begun in late 1990 and early 1991.
 The company noted that on an operating basis before interest expense, it earned $630,000 for the full year 1991 including a restructuring charge of $2,000,000 versus an operating loss before interest charges of $5,057,000 in the full year 1990.
 The company expects the positive effects of the operating expense reductions will continue to be reflected throughout 1992. Additionally, as a result of the Jan. 31, 1992 debt restructuring, interest expense will decrease significantly as average interest rates on Advanced Medical's outstanding debt approximately halve from 16 percent to 8 percent.
 ADVANCED MEDICAL, INC.
 Condensed Consolidated Statement (Unaudited)
 (In thousands, except per share data)
 Period ended Three Months Year
 Dec. 31 1991 1990 1991 1990
 Sales $36,476 $36,371 $127,222 $ 91,799
 Income (loss) from
 operations 3,598 1,494 630 (5,057)
 Interest income (expense) (4,454) (5,775) (16,951) (12,497)
 Income (loss) before
 extraordinary item 296 (5,118) (16,354) (17,725)
 Extraordinary item (loss) (1,236) -- (1,236) --
 Net loss (940) (5,118) (17,590) (17,725)
 Dividends on preferred stock 634 757 2,249 3,050
 Net loss applicable to
 common stock $(1,574) $(5,875) $(19,839) $(20,775)
 Net loss per common share
 before extraordinary item $(.03) $(.50) $(1.55) $(1.81)
 Net loss per common share
 after extraordinary item $(.13) $(.50) $(1.65) $(1.81)
 Weighted average common
 shares outstanding 12,349 11,841 12,012 11,497
 -0- 3/23/92
 /CONTACT: Stanley S. Anders, chief financial officer of Advanced Medical, 619-566-0426/
 (AMA) CO: Advanced Medical, Inc. ST: California IN: MTC SU: ERN


GK-OS -- NY014 -- 0430 03/23/92 09:26 EST
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Publication:PR Newswire
Date:Mar 23, 1992
Words:406
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