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OWENS & MINOR, INC. ANNOUNCES IMPROVED 1992 FIRST QUARTER EARNINGS

OWENS & MINOR, INC. ANNOUNCES IMPROVED 1992 FIRST QUARTER EARNINGS
 RICHMOND, Va., April 16 /PRNewswire/ -- Owens & Minor, Inc. (NYSE: OMI) announced today its first quarter results. For the first quarter ended March 31, 1992, sales from continuing operations were $284.3 million, up 18.0 percent from $240.9 million during the first quarter of 1991. Net income from continuing operations for the three-month period increased to $3.2 million in 1992 from $1.8 million in 1991, an increase of 80.9 percent. Net income per share from continuing operations for the first quarter was $.24 as compared to $.14 for the same period in 1991, an increase of 71.4 percent.
 In addition to the above, the gain on disposal of the Wholesale Drug Division, net of other related provisions and taxes, was $9.9 million and contributed $.75 per share.
 According to G. Gilmer Minor, III, President and CEO:
 "We are off to a good start in 1992. At the end of February, we completed the sale of our Wholesale Drug Division to Bergen Brunswig Corporation, Therefore, all comparisons in the narrative reflect continuing operations only. Our sales growth of 18 percent includes results from our recent acquisition in Nebraska and Iowa. 'Same-store' sales compared to the first quarter last year were up 13.2 percent. Gross margins continued to improve while SG&A held steady and interest expense declined due to lower interest rates, less demand for borrowed funds, and steady asset management. Our SG&A expense includes a heavy commitment to the future through the investment in training and development, information systems and our quality process. We expect to open our new distribution center in Columbus, Ohio, on the scheduled date of May 4th. We hope to build on our performance as the year progresses."
 Owens & Minor, Inc. is a wholesale distributor of medical and surgical supplies, pharmaceuticals and other related products. Through its Vangard Labs subsidiary, the Company also packages generic and brand name pharmaceuticals.
 OPERATING RESULTS
 (Unaudited)
 (In thousands, except per share data)
 Three Months Ended Percentage
 March 31, Change
 1992 1991
 Net sales from continuing
 operations $284,324 $240,868 18.0 pct.
 Net income from continuing
 operations $ 3,211 $ 1,775 80.9
 Net income from discontinued
 operations $ 9,930 $ 558 N/A
 Net income $ 13,141 $ 2,333 N/A
 Net income per common share:
 Continuing operations $ .24 $ .14 71.4 pct.
 Discontinued operations $ .75 $ .04 N/A
 Net income per common share $ .99 $ .18 N/A
 Weighted average common shares
 and common share equivalents 13,187 12,950 1.8
 All applicable per share information has been restated for the
 3 for 2 stock split distributed on July 16, 1991 to shareholders
 of record as of July 2, 1991.
 -0- 4/16/92
 /CONTACT: Glenn J. Dozier, Senior Vice President, Operations and Systems, Chief Financial Officer, Owens & Minor, Inc., 804-965-2945/
 (OMI) CO: Owens & Minor, Inc. ST: Virginia IN: MTC SU: ERN


CM-JM -- CH003 -- 9111 04/16/92 09:13 EDT
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Date:Apr 16, 1992
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