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BELMAC REPORTS RECORD SALES FOR FIRST QUARTER 1993

 TAMPA, Fla., May 14 /PRNewswire/ -- Belmac Corporation (AMEX: BLM) reported its results of operations for the first quarter ending March 31, 1993. Revenues increased to $5,777,000 from $5,009,000 for the same period last year. The company's net loss for the quarter was $2,610,000 (21 cents per share) compared to a net loss of $1,488,000 (13 cents per share) for the same period last year.
 Belmac's first quarter 1993 results compared favorably to its Dec. 31, 1992 quarter, which produced revenues of approximately $5 million and a net loss of approximately $12,800,000 ($1.05 per share).
 "We are pleased with our record sales for the first quarter of 1993," commented Michael Harshbarger, Belmac's CEO. "Our loss for this quarter was within our target goal and we believe we will continue to see improvements in our operating results as we move toward profitability this year." he added.
 Harshbarger emphasized that Belmac's strategic plan is to develop and market its proprietary drugs such as Biolid and Azaquinone while actively looking for other products and drugs to market in Europe and the U.S.
 BELMAC CORPORATION
 Summary Statement of Operations
 (U.S.$ in Thousands)
 Quarter Ended
 (Unaudited)
 3/31/93 12/31/92 3/31/92
 Sales $5,777 $4,933 $5,009
 Cost of Sales 4,456 2,658 3,272
 Gross Margin 1,321 2,275 1,737
 SG&A 2,881 6,413 1,729
 Research and Development 660 2,188 1,190
 Depreciation and Amortization 163 404 305
 Restructuring Charges --- 9,321 ---
 Net Loss (2,610) (16,153) (1,488)
 Net Loss Per Share (0.21) (1.35) (0.13)
 Weighted Average Common
 Shares Outstanding 12,701 12,399 11,220
 Belmac is a pharmaceutical and health care company based in Tampa, Fla.
 -0- 5/14/93
 /CONTACT: Jill Figueredo of Belmac Corporation, 813-286-4401/
 (BLM)


CO: Belmac Corporation ST: Florida IN: MTC SU: ERN

JB-SB -- FL007 -- 8627 05/14/93 12:24 EDT
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Publication:PR Newswire
Date:May 14, 1993
Words:333
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