BIOCHEM PHARMA REPORTS THIRD QUARTER RESULTS; Year-to-date Revenue More Than Doubles vs. Year-earlier period.LAVAL Laval, city, Canada Laval, city (1991 pop. 314,398), coextensive with Île-Jésus (94 sq mi/243 sq km), S Que., Canada, between the Rivière des Mille Îles and the Rivière des Prairies, just NW of Montreal. , QUEBEC--(BUSINESS WIRE)--Dec. 13, 1994-- For the third quarter ended October 31, 1994, total revenue for BioChem Pharma was $42.7 million compared with $13.5 million for the same period last year, an increase of 216%. This increase primarily reflects increased diagnostic sales, a result of BioChem's acquisition of Serono Diagnostics (1) Software routines that test hardware components (memory, keyboard, disks, etc.). Diagnostics are often stored in ROM chips and activated on startup. (2) Error messages in a programmer's source code that refer to statements or syntax that the compiler or assembler on June 22nd, 1994. Before income taxes, non-controlling interest in the results of subsidiaries and the share in the results of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Vaccine vaccine Preparation containing either killed or weakened live microorganisms or their toxins, introduced by mouth, by injection, or by nasal spray to stimulate production of antibodies against an infectious agent. (NAVA NAVA National Association for the Visual Arts NAVA National Association for Variable Annuities NAVA Navajo National Monument (US National Park Service) NAVA North American Vexillological Association ), its associated company associated company associate n → Partnerfirma f associated company n → società collegata , BioChem reported a loss of $1.9 million compared with a profit of $814,000 in the same quarter of 1993. These results include amortization expenses of $2.0 million and $785,000 respectively. After taking into account income taxes, non-controlling interest in the results of subsidiaries and the share in the results of NAVA, BioChem reported a net loss of $5.4 million or $0.12 per share this past quarter, compared with a net loss of $897,000 or $0.02 per share for the quarter ended October 31, 1993. Revenue for the first nine months ended October 31, 1994 more than doubled to $82 million, from $33 million for the year-earlier nine-month period. Before income taxes, non-controlling interest in the results of subsidiaries, and the share in the results of its associated company, NAVA, BioChem reported a loss of $1.7 million for the nine months ended October 31, 1994 as compared to a loss of $616,000 for the year-earlier nine- month period. These losses include amortization expenses of $4.4 million and $2.3 million respectively. After taking into account income taxes, non-controlling interest in the results of subsidiaries and the share in the results of NAVA, the net loss for the period is $10 million or $0.21 per share, compared with a loss of $6.2 million or $0.13 per share for the same period last year. These nine-month results for 1994 and 1993 respectively include $6.2 million and $4.4 million as BioChem's share of loss of the associated company (NAVA). For the nine months ended October 31, 1994, cash flow from BioChem's operating activities amounted to $1.1 million, given that the share of loss in the associated company (NAVA) and amortization are non-cash items not requiring outlay of funds. As at October 31, 1994, BioChem's assets amounted to $248 million, compared with $143 million a year earlier. Working capital as at October 31, 1994, amounted to $75.9 million, representing an increase of $13.4 million versus a year ago. BioChem Pharma is an international bio-pharmaceutical company dedicated to the research, development and commercialization of innovative products for the detection, prevention and treatment of human diseases. The Company's shares are traded on the Montreal and Toronto Stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (BCH BCH Beach BCH Banco Central de Honduras BCH Boot Console Handler BCH Boulder Community Hospital (Boulder, CO, USA) BCH Broadcast Channel BCH Belfast City Hospital BCH Banco Central-Hispano ) and on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on (BCHXF). CONTACT: Christine Lennon
Director, Investor Relations
BioChem Pharma, Inc.
514/978-7771
or
Kate de Santis
Dewe Rogerson Inc.
212/688-6840
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