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BIOMATRIX ANNOUNCES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR-ENDED DEC. 31, 1991

 BIOMATRIX ANNOUNCES FINANCIAL RESULTS FOR THE
 FOURTH QUARTER AND YEAR-ENDED DEC. 31, 1991
 RIDGEFIELD, N.J., March 3 /PRNewswire/ -- Biomatrix, Inc. (NASDAQ: BIOX) today reported a net loss for the quarter ended Dec. 31, 1991 of $974,986 or 11 cents per common share. This compares to a net loss of $897,284 or 15 cents per common share for the same period of the prior year. Revenues for the quarter were $1,120,639 vs. $714,150 for the same period in the prior year. Average shares outstanding for the quarter were 8,994,528 vs. 5,899,673 for the same period in 1990.
 For the year ended Dec. 31, 1991, the net loss was $3,874,930 or $.55 per common share. This compared to a net loss of $2,727,819 or 46 cents per common share for 1990. Revenues for 1991 were $2,682,255 vs. $2,563,045 for 1990. Average shares outstanding for 1991 were 7,047,866 and 5,898,653 for 1990.
 For both the quarter and year ended Dec. 31, 1991, Biomatrix' financial results are consistent with the company's expectations. The revenue increase for the quarter was largely due to the timing of shipments to the principal end user of the company's skin care products and the timing of revenues received under a limited partnership arrangement in Sweden. Higher levels of spending resulted from increases in clinical trial activities and associated regulatory expenses in the United States and Europe and from start-up costs related to the company's Canadian operations.
 Biomatrix develops advanced biomaterials for use in therapeutic medical applications and skin care products based on propriety hylan technology. The company is headquartered in Ridgefield, N.J.
 -0- 3/3/92
 /CONTACT: David Santos of Howard J. Rubenstein Associates, 212-489-6900, for Biomatrix/
 (BIOX) CO: Biomatrix, Inc. ST: New Jersey IN: MTC SU: ERN


KD-SM -- NY064 -- 4562 03/03/92 15:13 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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