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BALCHEM REPORTS RESULTS

 BALCHEM REPORTS RESULTS
 SLATE HILL, N.Y., May 1 /PRNewswire/ -- Herb Weiss, president of


Balchem Corporation (NASDAQ-NMS: BLCC), today issued the following statement:
 "Results in the first quarter were in line with expectations. Sales increased by 9 percent but earnings declined because of higher expenses. As noted in the previous quarterly report, we have increased our operating expenses in anticipation of significantly higher sales in the second half of this year.
 "All we can say about our encapsulated vitamin for agriculture at this time is that the project is proceeding on schedule; draft contracts are being exchanged, additional material (6,600 pounds) was produced for testing by independent farmers, and mechanisms are being implemented to broaden patent filing internationally.
 "Following our quick success with our Aqua-Stable(R) Vitamin C for aquaculture in Ecuador, we have extended our marketing to Chile. Here again we were well received and expect moderate sales by year-end. We also obtained some significant new business from companies that make various types of confection. Production at Green Pond increased substantially this quarter. A few accounts purchased somewhat less than expected, but there were no significant adverse developments.
 "We are nearing a decision on purchasing land near our Slate Hill plant in order to construct a new manufacturing facility to handle the anticipated expansion for our encapsulates.
 "We have reached a size where we can start to add specialists for several functions. Recent additions include purchasing, human resources, engineering and market development specialists.
 "Three lawsuits filed against us, over the last ten years, along with several other organizations in the supply and use chain of ethylene oxide, may be settled this year. Although we are covered by insurance, we will be responsible for the deductible amount ranging from $25,000- $50,000 each.
 "We continue to expect some exciting and profitable developments later this year."
 NOTE: Aqua-Stable is a registered trademark of Balchem Corporation.
 BALCHEM CORPORATION
 (Unaudited)
 ($000 omitted except for net earnings per share)
 Three months ended March 31 1991 1992
 Sales $2,853 $3,105
 Pre-tax profit 215 174
 Taxes 83 63
 Net income $ 132 $ 104
 Earnings/share $0.066 $0.052
 -0- 5/1/92
 /CONTACT: Herb Weiss, president of Balchem, 914-355-2861/
 (BLCC) CO: Balchem Corporation ST: New York IN: SU: ERN


GK-OS -- NY021 -- 5408 05/01/92 10:47 EDT
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Publication:PR Newswire
Date:May 1, 1992
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