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MERFIN HYGIENC REPORTS CONTINUED GROWTH IN NINE MONTH RESULTS

 DELTA, Nov. 16 ~CNW~ - Merfin Hygienic Products Ltd. today released its financial results for the nine months ended September 30th. The results have reflected the Company's steady progress in the development of its international markets.
 During 1992, Merfin has turned around its operating performance and has continued to maintain its profitability throughout the year. This has come about as the result of a major restructuring in 1991 and strong growth in its "Air-laid" and Converted Products divisions. Results for the periods ending September 30th are as follows.
 three months ended nine months ended
 1992 1991 1992 1991
 Revenue $7,473,000 $5,770,000 $22,819,000 $14,245,000
 Net Income $ 219,000 ( $550,000) $ 740,000 ($2,557,000)
 Cash flow
 from operations $ 461,000 ( $164,000) $ 1,907,000 ($1,356,000)
 Net income per
 share $ 0.02 ( $ 0.05) $ 0.06 ($ 0.25)
 Cash flow per
 share $ 0.04 ( $ 0.01) $ 0.15 ($ 0.13)
 Merfin Hygienic is the first and only manufacturer of air-laid paper in Canada. The environmentally friendly process produces paper with super absorbant cloth-like qualities. Merfin's investment in product development has attracted well established customers in the personal hygiene market. The Company's paper is being used in adult incontinent, feminine hygiene products and baby wipes, amongst a variety of other applications.
 For further information: Ivan Pivko, President & CEO or John McNicol, V.P. & CFO, Merfin Hygienic Products Ltd., (604) 946-0677 or; Grant Howard or Pat Bugera, STRATCOM Inc., (403) 221-0915
 (MIP.)
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CO: MERFIN HYGIENIC PRODUCTS LTD. SU: ERN ST:

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Publication:PR Newswire
Date:Nov 16, 1992
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