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BIOMERICA'S LANCER ORTHODONTICS SUBSIDIARY SHOWS FIRST QUARTER PROFIT

BIOMERICA'S LANCER ORTHODONTICS SUBSIDIARY SHOWS FIRST QUARTER PROFIT
 NEWPORT BEACH, Calif., Oct. 19 /PRNewswire/ -- Biomerica Inc. (NASDAQ: BMRA) announced that its subsidiary, Lancer Orthodontics Inc. (NASDAQ: LANZ) reported a profit of $64,539, or $.01 per share, on sales of $1,709,617, for its first quarter ended Aug. 31, 1992. This compares with a loss of $50,976, or $.01 per share, on sales of $1,872,144, for the quarter ended Aug. 31, 1991. The quarterly profit is the first the company has reported since the quarter ended Nov. 30, 1988. The profitable quarter was the result of a significant amount of restructuring and cost reductions over the past nine months.
 Lancer President Doug Miller, formerly with Johnson & Johnson, attributes the turnaround in earnings primarily to the increased efficiency of the Maquiladora operation located in Mexicali, Mexico, that Lancer began two years earlier. Miller expects further increases in efficiency in the future as Lancer takes total control of that operation and that future quarters are expected to be profitable. Miller further stated that the shareholders in Lancer now have an excellent opportunity to realize the real value of their stockholdings in Lancer. Lancer stock has been bidding 1/4 and asking 1/2 which Miller believes is extremely undervalued given both the growth and profitability for which Lancer is poised.
 Lancer Orthodontics Inc., Carlsbad, manufactures a wide range of orthodontic products, which are distributed throughout the United States and certain major international markets. Lancer is the only publicly held orthodontics manufacturer. Biomerica, a medical company, has a controlling interest in Lancer.
 -0- 10/19/92
 /CONTACT: Joseph Irani, president of Biomerica, 714-645-2111/
 (LANZ BMRA) CO: Lancer Orthodontics Inc.; Biomerica Inc. ST: California IN: HEA SU: ERN


KJ-BP -- LA015 -- 1622 10/19/92 13:05 EDT
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Publication:PR Newswire
Date:Oct 19, 1992
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