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BIOPOOL POSTS SECOND QUARTER OPERATING RESULTS

 VENTURA, Calif., Aug. 12 /PRNewswire/ -- Biopool International Inc. (NASDAQ: BIPL) today reported operating results for the three and six months ended June 30, 1993.
 The company's sixth consecutive profitable quarter resulted in net income of $50,758, or $.01 per share, on sales of $1,135,340. This compares with net income of $171,713, or $.03 per share, on sales of $1,473,383, for the same period last year.
 Biopool reported net income of $129,107, or $.02 per share, for the 1993 six-month period, compared with net income of $293,209, or $.05 per share, in 1992. Sales were $2,162,988, compared with $2,653,398 for the corresponding period a year ago. Detrimental currency exchange rate fluctuations decreased net income in the amount of approximately $150,000 for the 1993 year-to-date period.
 "The continued unfavorable currency exchange rate of the Swedish Krona adversely impacted second quarter operating results of our Swedish subsidiary company, Biopool AB," said Michael D. Bick, Ph.D., chairman and chief executive officer. "This factor as well as the negative affect of the distressed European economy, which contributes 40 percent of the company's sales base, resulted in decreased earnings for Biopool compared with the 1992 second quarter."
 Also during the quarter, the company announced that Bick was elected to the additional position of chairman of the board, and Lewis J. Kaufman was elected a director. Bick succeeds Mats Ranby, Ph.D., who remains on the board of directors. Ranby is president of Biopool AB. Kaufman replaces James D. Johnson, Ph.D., who did not stand for re- election.
 Additionally, Bick noted the completion during the second quarter of the company's $2.2 million private placement financing. 1.166 million shares of Biopool common stock were sold for $1.875 per share to International Capital Partners Inc. of Stamford, Conn., and VK Capital Co. of San Francisco. Biopool will use the proceeds of the financing to pay down existing debt, purchase capital equipment and increase research and development and marketing efforts.
 Founded in 1987, Biopool develops, manufactures and markets a full range of test kits to assess and diagnose disorders of blood coagulation, fibrinolysis, platelet function and the vascular system, as well as test kits to determine thrombotic risk factors. The company's products are sold to hospitals and clinical laboratories worldwide.
 BIOPOOL INTERNATIONAL INC.
 Selected Financial Data
 (Unaudited)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Operations Data
 Sales $1,135,340 $1,473,383 $2,162,988 $2,653,398
 Income before
 non-operating items 77,247 191,912 180,973 331,300
 Net income 50,758 171,713 129,107 293,209
 Net income per share $.01 $.03 $.02 $.05
 Weighted average
 shares outstanding 7,135,806 6,747,032 6,941,419 6,542,780
 At June 30, 1993 At Dec. 31, 1992
 (Unaudited) (Audited)
 Balance Sheet Data
 Working capital $3,278,348 $1,298,328
 Total assets 6,250,244 4,094,906
 Long-term debt
 (including current portion) 502,601 587,866
 Total shareholders' equity $4,820,893 $2,556,585
 -0- 8/12/93
 /CONTACT: Michael D. Bick, Ph.D., chairman and CEO, 805-654-0643, or Andrew L. Cerskus, Ph.D., president and COO, (Canada) 416-332-9419, both of Biopool; or Kim P. Feazle of Pondel Parsons & Wilkinson, 310-207-9300, for Biopool/
 (BIPL)


CO: Biopool International Inc. ST: California IN: MTC SU: ERN

BP-JL -- LA005 -- 1998 08/12/93 09:02 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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