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CISTRON REPORTS A PROFIT FOR FISCAL YEAR

               CISTRON REPORTS A PROFIT FOR FISCAL YEAR
    PINE BROOK, N.J., Nov. 4 /PRNewswire/ -- Cistron Biotechnology,


Inc. today reported a profit for the fiscal year ended June 30, 1991. This was the company's third consecutive profitable year.
    Sales for the year were $1,035,581 versus $1,104,553 in 1990.  Net income for the year was $176,400 as compared to $188,434 in the previous year.  Earnings per share were $.01 in each year.
    The company attributed the lower sales and earnings for the year to decreased sales of research products and to reduced interest income since cash was used to retire $373,614 of debt in fiscal 1991.
    Fourth quarter sales were $236,377 compared with $276,227 last year. Net income was $105,719 for the quarter versus $30,173 the prior year. Net income for the fourth quarter reflects a one-time payment made to Cistron by DuPont Merck as reimbursement for prior research expenditures.
    Cistron's primary product area is immune response regulators, known as lymphokines.  The company manufactures and sells lymphokine assay kits to pharmaceutical companies and academic institutions in the United States, Europe and the Far East for cancer, arthritis and other autoimmune disease research.
                      CISTRON BIOTECHNOLOGY, INC.
    Three months ended June 30               1991          1990
    Net sales                              $236,377   $   276,227
    Earnings before income taxes            105,719        30,173
    Income taxes                             32,479         2,791
    Extraordinary credit - tax
     loss carry forward                      32,479         2,791
    Net income                              105,719        30,173
    Net income per share                         --            --
    Weighted average number of
     shares outstanding                  25,017,191    21,870,899
    Twelve months ended June 30               1991          1990
    Net sales                           $ 1,035,581   $ 1,104,553
    Earnings before income taxes            176,400       188,434
    Income taxes                             60,884        66,000
    Extraordinary credit - tax
     loss carry forward                      60,884        66,000
    Net income                              176,400       188,434
    Net income per share                        .01           .01
    Weighted average number of
     shares outstanding                  25,017,191    21,870,899
    -0-               11/4/91
    /CONTACT:  Harold Smith of Hal Smith Associates Public Relations, 201-305-0244, for Cistron Biotechnology/ CO:  Cistron Biotechnology, Inc. ST:  New Jersey IN:  MTC SU:  ERN JT-OS -- NY001 -- 0579 11/04/91 09:00 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 4, 1991
Words:363
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