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ALLOU HEALTH & BEAUTY CARE, INC., ANNOUNCES A DRAMATIC INCREASE IN NET INCOME; RISING 56 PERCENT IN THE SECOND QUARTER OF FISCAL 1994

 BRENTWOOD, N.Y., Nov. 8 /PRNewswire/ -- Allou Health & Beauty Care, Inc. (AMEX: ALU), today reported strong gains in revenues, net income and earnings per share for the second quarter of fiscal year 1994, ended Sept. 30, 1993. Sales increased 29 percent to a record $50.3 million, from $39.2 million, recorded in the same period last year. Net income rose to $1,060,307, a 56 percent increase from $681,381, for the period ended Sept. 30, 1992. Earnings per share increased 54 percent to 20 cents per share, fully diluted, from 13 cents per share, restated to reflect comparable dilution when compared to the same period a year ago.
 Revenues reached an historic level for the six months ended Sept. 30, 1993, increasing 24 percent to $97.3 million, as compared to the prior year's $78.4 million. Net income leaped 41 percent to a record $1,810,450, or 35 cents per share, fully diluted, when compared to net income of $1,285,701, or 26 cents per share, restated to reflect comparable dilution, when compared to the corresponding period in the previous year.
 David Shamilzadeh, chief financial officer of Allou, stated: "Our much improved second quarter and first half performances were exceptionally gratifying in that all segments of our business, particularly, the areas of prestige designer fragrances and non-perishable branded foods, contributed significantly to Allou's strong performance. Additionally, as a result of Allou's expanding product and customer base, we are witnessing an increase in consumer demand. Finally, Allou's management remains committed to its focused expansion both internally and through selective acquisitions."
 Allou Health & Beauty Care, Inc., is the premier distributor of over 8,000 nationally advertised health and beauty aid products in the Northeast and Miami areas. In addition, the company is a leading nationwide distributor of over 7,000 prestige designer fragrances and cosmetics. The company also distributes nationally advertised non-perishable branded food items. Most recently, Allou has become a direct manufacturers' distributor of prescription pharmaceuticals. Allou's account base consists of 3,700 independent drug and convenience stores including leading national chain stores.
 ALLOU HEALTH & BEAUTY CARE, INC.
 Financial Highlights
 For the three months
 ended Sept. 30, 1993 1992
 Revenues $50,292,360 $39,153,071
 Gross Profit 6,025,845 4,523,206
 Net Income 1,060,307 681,381
 Per Share Net Income $0.20(A) $0.13(B)
 Weighted Average Shares
 Outstanding, Including
 Common Stock Equivalents 5,611,421 5,611,421
 For the six months
 ended Sept. 30, 1993 1992
 Revenues $97,320,853 $78,368,161
 Gross Profit 11,146,750 8,979,625
 Net Income 1,810,450 1,285,701
 Per Share Net Income $0.35(C) $0.26(D)
 Weighted Average Shares
 Outstanding, Including
 Common Stock Equivalents 5,611,421 5,611,421
 (A and C) -- Per share net income figures are based on a share equivalent of 5,611,421 shares outstanding and common stock equivalents. This reflects the potential for the conversion of the company's class B warrants into class A common stock on a fully diluted basis. The weighted average shares of common stock outstanding is 3,951,526 shares and the common stock equivalent is 1,659,895.
 (B) -- Per share net income and shares outstanding have been restated to reflect comparable dilution. Original per share net income was 14 cents per share with 5,268,985 outstanding and common stock equivalents.
 (D) -- Per share net income and shares outstanding have been restated to reflect comparable dilution. Original net income per share was 28 cents per share with 5,240,766 shares outstanding and common stock equivalents.
 -0- 11/8/93
 /CONTACT: David Shamilzadeh, senior vice president and chief financial officer of Allou Health & Beauty Care, 516-273-4000/
 (ALU)


CO: Allou Health & Beauty Care, Inc. ST: New York IN: HOU SU: ERN

MP-TW -- NY024 -- 1631 11/08/93 09:22 EST
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Date:Nov 8, 1993
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