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ALLOU HEALTH & BEAUTY CARE ANNOUNCES RECORD THIRD QUARTER AND NINE MONTH RESULTS

 ALLOU HEALTH & BEAUTY CARE ANNOUNCES RECORD
 THIRD QUARTER AND NINE MONTH RESULTS
 BRENTWOOD, N.Y., Feb. 12 /PRNewswire/ -- Allou Health & Beauty Care, Inc. (AMEX: ALU) today reported third quarter results with a 213 percent increase in net income to $614,976, or $0.17 per share on sales of $39,175,663 for the period ended Dec. 31, 1991. For the comparable period last year, net income totaled $196,610 or $0.06 per share (restated to reflect comparable dilution) on sales of $21,760,581.
 Results for the nine months also represented a record, with net income increasing 64 percent to $1,348,088, or $0.40 per share on sales of $95,517,840. These results compared to net income for the first nine months of fiscal 1991 of $823,316, or $0.24 per share (restated to reflect comparable dilution) on sales of $65,414,464.
 David Shamilzadeh, chief financial officer, stated, "Allou's excellent results clearly demonstrated management's effectiveness of expanding both its product lines and customer base while continuing to monitor costs and expenses. It is exceptionally gratifying that Allou continues to experience solid growth in a slow economic environment."
 In unrelated news, the company reported that as of Jan. 31, 1992, 217,000 Class A warrants have been exercised and converted into Class A common stock resulting in $1,085,000 additional capital. The funds will be used to expand inventory levels and sustain growth.
 Allou Health & Beauty Care, Inc. is the premier distributor of over 8,000 nationally advertised branded health and beauty aid products in the Northeast and Miami areas. In addition, the company is a leading nationwide distributor of over 7,000 prestige designer fragrances and cosmetics. The company also distributes nationally advertised non- perishable branded food items. Allou's account base consists of 3,500 independent retailers in the Northeast and Miami area and over 5,000 independent drug and convenience stores including the leading national chain stores.
 ALLOU HEALTH & BEAUTY CARE, INC.
 Financial Highlights
 Three months ended Dec. 31; 1991 1990
 Revenues $39,175,663 $21,760,581
 Gross profit 4,630,867 3,000,040
 Net income 614,976 196,610
 Per share net income $0.17 $0.06(C)
 Wtd. avg. shares outstanding
 & common stock equivalent 3,920,370(A) 3,920,370
 Nine months ended Dec. 31; 1991 1990
 Revenues $95,517,840 $65,414,464
 Gross profit 12,188,259 9,088,800
 Net income 1,348,088 823,316(B)
 Per share net income $0.40 $0.24(D)
 Wtd. avg. shares outstanding
 & common stock equivalent 3,846,591 3,846,591
 (A) -- Per share net income figures are based on a share equivalent of 3,920,370 shares outstanding and common stock equivalent. This reflects the potential for the conversion of Class A warrants into Class A common stock on a fully diluted basis. Common stock outstanding is 2,580,000 shares and common stock equivalent is 1,340,370.
 (B) -- Net income excludes proceeds of $228,759, resulting from a previously announced lawsuit settlement.
 (C) -- Net income per share and shares outstanding have been restated to reflect comparable dilution. Original net income was $0.08 per share with 2,580,000 shares outstanding.
 (D) -- Net income per share and shares outstanding have been restated to reflect comparable dilution. Original net income per share was $0.32 per share with 2,580,000 shares outstanding.
 -0- 2/12/92
 /CONTACT: David Shamilzadeh, chief financial officer of Allou Health & Beauty Care, 516-273-3865/
 (ALU) CO: Allou Health & Beauty Care, Inc. ST: New York IN: HOU SU: ERN


CK-JT -- NY061 -- 9270 02/12/92 13:06 EST
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Date:Feb 12, 1992
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