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BIOPOOL REPORTS FIRST QUARTER RESULTS AND FIFTH CONSECUTIVE PROFITABLE QUARTER

 VENTURA, Calif., May 13 /PRNewswire/ -- Biopool International Inc. (NASDAQ: BIPL) today reported operating results for the first quarter ended March 31, 1993, marking its fifth consecutive profitable quarter.
 For the three months ended March 31, 1993, Biopool posted net income of $78,349, or $.01 per share, on sales of $1,027,648, compared with net income of $121,496, or $.02 per share, on sales of $1,180,015 last year.
 The 1993 first quarter operating results reflect unusually lower sales from Biopool's subsidiary, Biopool AB, compared with the 1992 first quarter. This decrease was primarily because of the detrimental currency exchange rate of the Swedish Krona, the billing currency of Biopool AB. The value of the Swedish Krona compared to the U.S. dollar has decreased an average of 22 percent since the first quarter of 1992. Additionally during the quarter, sales to the company's three-largest distributors decreased 47 percent, compared with the 1992 first quarter. However, this decrease was offset by two other distributors that accounted for 21 percent of sales in the quarter, compared with 3 percent in the first quarter of 1992.
 "We believe that the lower-than-expected operating results for the quarter are not indicative of the year, and expect our historically largest distributors to be back on track for the rest of the year," said Andrew L. Cerskus, Ph.D., Biopool's president. "The devaluation of the Swedish Krona is positive in that significant principal repayment of long-term debt of Biopool AB is expected upon completion of the recently announced private placement financing.
 "We are aggressively proceeding with our strategic plan and product development program," added Cerskus. "We are also expecting a positive impact from our announcement on May 10 that a Harvard Medical School study using Biopool's TintElize(R) test kit demonstrated that plasma levels of tissue-type plasminogen activator (t-PA) may be an even more important indicator of risk for future heart attack than total cholesterol. These results were recently published in Lancet, a highly regarded medical journal."
 Founded in 1987, Biopool develops, manufactures and markets a full range of test kits to assess and diagnose disorders of blood coagulation, fibrinolysis, platelet function and the vascular system, as well as test kits to determine thrombotic risk factors. The company's products are sold to hospitals and clinical laboratories worldwide.
 BIOPOOL INTERNATIONAL INC.
 Selected Financial Data
 (Unaudited)
 Three Months Ended
 March 31, March 31,
 1993 1992
 Operations Data
 Sales $1,027,648 $1,180,015
 Income before
 non-operating items $103,727 $139,388
 Net income $78,349 $121,496
 Net income per share $.01 $.02
 Weighted average
 shares outstanding 6,747,032 6,598,528
 Three Months Ended Year Ended
 March 31, 1993 Dec. 31, 1992
 (Audited)
 Balance Sheet Data
 Working capital $1,228,292 $1,298,328
 Total assets 4,172,153 4,094,906
 Long-term debt
 (including current portion) 539,211 587,866
 Total shareholders' equity 2,581,759 2,556,585
 -0- 5/13/93
 /CONTACT: Andrew L. Cerskus, Ph.D., president of Biopool, 416-332-9419; or Kim P. Feazle of Pondel Parsons & Wilkinson, 310-207-9300, for Biopool/
 (BIPL)


CO: Biopool International Inc. ST: California IN: MTC SU: ERN

JL-BP -- LA011 -- 7947 05/13/93 09:04 EDT
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Publication:PR Newswire
Date:May 13, 1993
Words:533
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