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GAMMA BIOLOGICALS REPORTS FIRST QUARTER EARNINGS

 GAMMA BIOLOGICALS REPORTS FIRST QUARTER EARNINGS
 HOUSTON, Aug. 6 /PRNewswire/ -- Gamma Biologicals, Inc. (AMEX: GBL)


reported today net sales and earnings for the first quarter of fiscal 1993. Net income for the quarter ended June 30, 1992 was $88,000 (two cents per share) on net sales of $4,066,000. These results compare with net income of $346,000 (eight cents per share; six cents before extraordinary item) on net sales of $4,047,000 for the first quarter last year.
 Revenues were about the same as last year's, while development expenses for both monoclonal products and the bioelectrical sensor technology continued to grow, as anticipated. Selling expenses also increased, with three additional outside sales representatives hired during the third and fourth quarters of fiscal 1992. Utilization of net operating loss carryforward, an extraordinary item that enhanced income in prior periods, did not affect this quarter's results.
 Gamma Biologicals manufactures and markets a wide range of highly refined and specialized testing products, known as diagnostic reagents, as well as sophisticated instrument systems. The company markets to hospitals, blood banks, medical laboratories, physicians' offices and research institutions.
 GAMMA BIOLOGICALS, INC.
 Condensed Statements of Consolidated Income
 (In thousands, except per share amounts -- unaudited)
 Three months ended June 30, 1992 1991
 Net sales $4,066 $4,047
 Costs and expenses 3,965 3,656
 Income from operations 101 391
 Other income (expense)-net 17 (25)
 Income before income taxes
 and extraordinary item 118 366
 Income taxes 40 126
 Inc. before extraord. item 78 240
 Extraord. item - utilization of
 net operating loss carryforward 10 106
 Net income $ 88 $ 346
 Income per common and common
 equivalent share:
 Inc. before extraord. item .02 .06
 Extraord. item - utilization
 of net operating loss
 carryforward -- .02
 Net income per common and
 common equivalent share $ .02 $ .08
 Wtd. avg. no. of common and common
 equivalent shares outstg. 4,660 4,551
 -0- 8/6/92
 /CONTACT: David E. Hatcher, chairman and president, or Margaret J. O'Bannion, chief financial officer of Gamma Biologicals, 713-681-8481/
 (GBL) CO: Gamma Biologicals, Inc. ST: Texas IN: MTC SU: ERN


SH -- NY035 -- 7500 08/06/92 10:16 EDT
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Date:Aug 6, 1992
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