ALLERCARE REPORTS RESULTS
ALLERCARE REPORTS RESULTS BLOOMINGTON, Minn., July 31 /PRNewswire/ -- Allercare, Inc.
(OTC Bulletin Board: ALLR) today announced results for the fiscal year ended April 30, 1992.
Net sales for the year ended April 30, 1992, were $1,013,394 down from $3,705,280 in the prior year, a decline of 73 percent. The drop was due to the sale of the Protex division in September 1991 and the resulting liquidity problems caused by the related antitrust lawsuit. The net loss for the year was $1,584,402, or $0.23 per share versus a net loss last year of $2,431,046, or $0.50 per share. The loss for the year was due to a $2,375,133 charge against goodwill. Results for the year also included a $1,394,082 gain from the sale of the Protex division. As previously announced, $900,000 of the company's Convertible Subordinated Debentures was converted into equity at $0.375 per share on June 15, 1992. Allercare, Inc., a Bloomington-based health and beauty aid products company, markets nail and cuticle treatment products under the brand name LaSalle'"10." ALLERCARE, INC. Summary of Results Fiscal Year 1992 Year Ended 4/30/92 4/30/91 Net sales $1,013,394 $3,705,280 Net loss $1,584,402 $2,431,046 Net loss per share $0.23 $0.50 Weighted average shares outstanding 6,921,620 4,874,210 -0- 7/31/92 /CONTACT: Sigfred W. Peck, president and CEO of Allercare, 612-944-0551/ (ALLR) CO: Allercare, Inc. ST: Minnesota IN: HOU SU: ERN
AL -- MN007 -- 5546 07/31/92 11:11 EDT
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|Date:||Jul 31, 1992|
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