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MARINE HARVEST INTERNATIONAL, INC. REPORTS RECORD EARNINGS IN THIRD QUARTER RESULTS

 WOODBRIDGE, N.J., July 28 /PRNewswire/ -- Marine Harvest International, Inc. (AMEX: MHI) today reported record earnings of $3.0 million or 29 cents per share on sales of $38.4 million for the third quarter ended June 30, 1993. In the third quarter of 1992, the company had a net loss of $0.7 million or a loss of 11 cents a share on sales of $20.2 million.
 For the nine months ended June 30, 1993, the company reported net income of $6.0 million or 52 cents per share on sales of $102.4 million, compared to a net loss of $1.2 million or a loss of 18 cents per share on sales of $63.4 million in 1992.
 In commenting on the company's third quarter, John A. Mistretta, chairman and chief executive officer, said, "We are pleased with our financial performance which reflects our decision to focus on the growing aquaculture industry. The quarter demonstrates continued strength in our salmon operation and marked improvement in our shrimp operation. Both benefited from a seasonal increase in seafood consumption which historically has continued throughout the summer months and through the holiday season. The shrimp operation's performance also reflected the realization of cost reduction actions taken in the second and third quarters."
 Marine Harvest International, Inc. is a world leader in the farming, processing and distribution of Atlantic salmon and a major producer and distributor of Western White shrimp.
 MARINE HARVEST INTERNATIONAL, INC.
 Consolidated Summary of Operations
 (In thousands, except per-share data)
 Periods ended Three months Nine months
 June 30 1993 1992 1993 1992
 Net sales $38,412 $20,166 $102,375 $63,426
 Operating income
 (loss) 5,260 (21) 11,475 477
 Net income (loss) 2,994 (738) 6,039 (1,236)
 Net income (loss)
 per common share $.29 $(.11) $.52 $(.18)
 -0- 7/28/93
 /CONTACT: Diana Burton of Marine Harvest International, Inc., 908-750-1122/
 (MHI)


CO: Marine Harvest International, Inc. ST: New Jersey IN: FOD SU: ERN

CK-MG -- NY045 -- 7286 07/28/93 11:58 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:339
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