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INTERPHARM LABORATORIES LTD. REPORTS 1993 FIRST QUARTER RESULTS

 NESS-ZIONA, ISRAEL, June 3 /PRNewswire/ -- InterPharm Laboratories Limited (NASDAQ: IPLLF) today reported revenues of $12.7 million for the first quarter ending March 31, 1993, an increase of 14.8 percent over the comparable quarter for 1992. Net income reached $1.1 million compared with $1.8 million in 1992, a decrease of 39.8 percent.
 This performance was attributed to: an increase in R&D to $1.1 million compared with $0.6 million for the same quarter in 1992; an increase in finance expenses as a result of long-term loans raised during 1992 and 1993 to cover capital investments; and a one-time customs refund of $0.3 million in the first quarter of 1992.
 "The construction of our recombinant beta interferon (r-hIFN-beta) manufacturing facility requires significant investment, which is included in the capital expenditures for the quarter," said Alex Kotzer, president of the company. "This state-of-the-art facility is expected to be completed this year and operational by late 1994."
 In 1993, first quarter capital expenditures were $4.8 million, compared with $3.1 million in the first quarter of 1992, an increase of 53.5 percent.
 InterPharm Laboratories Ltd. is a member of The Ares-Serono Group, a worldwide developer and marketer of pharmaceutical and diagnostic products, with executive headquarters in Geneva, Switzerland. The Group operates subsidiaries and manufacturing facilities in more than 20 countries. InterPharm's shares are traded over-the-counter in the U.S.
 Below is a summary of unaudited comparative results. All amounts are in thousands of U.S. dollars except per share data and number of shares.
 Three Months Ended March 31,
 1993 1992
 Revenues $12,694 $11,053
 Operating profit 1,201 1,460
 Financial income (expenses)-net (109) 79
 Net income 1,092 1,815
 Earnings per share 17 cents 29 cents
 Weighted average number of
 shares outstanding 6,242,385 6,242,385
 -0- 6/3/93
 /CONTACT: Gina Cella of Ares-Serono Group, 617-982-9000/
 (IPLLF)


CO: InterPharm Laboratories ST: IN: MTC SU: ERN

DJ -- NE017 -- 5150 06/03/93 16:09 EDT
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Date:Jun 3, 1993
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