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BIOWHITTAKER ANNOUNCES RESULTS

 WALKERSVILLE, Md., Dec. 13 /PRNewswire/ -- BioWhittaker, Inc. (NYSE: BWI), today announced the results of its operations for the fourth quarter and for the full fiscal year which ended Oct. 31, 1993.
 Net income for the fourth quarter and for the year amounted to $537,000, or 5 cents per share, and $1,862,000, or 17 cents per share, respectively. Sales for the fourth quarter and for the year were $13,189,000 and $51,108,000, respectively, compared to $13,009,000 and $51,559,000 for the comparable periods a year ago.
 Commenting, Noel L. Buterbaugh, chief executive officer, said, "While BioWhittaker has experienced a difficult year, we remain confident that we are making excellent progress, and we are enthusiastic about the array of exciting new products we are bringing to market."
 BioWhittaker, Inc., develops and produces cell culture products, clinical diagnostic testing systems and endotoxin detection assays for the international health care and biotechnology markets.
 BIOWHITTAKER, INC.
 Consolidated Condensed Statements of Income
 (Dollars in Thousands, Except Share Data)
 (Unaudited)
 For the Three Months For the 12 Months
 Ended Oct. 31, Ended Oct. 31,
 1993 1992 1993 1992
 Sales $13,189 $13,009 $51,108 $51,559
 Costs and Expenses
 Cost of Sales 8,506 6,739 30,492 25,325
 Research and Development 661 618 2,916 2,380
 Selling, General and
 Administrative 2,964 3,708 13,718 15,143
 Total 12,131 11,065 47,126 42,848
 Income From Operations 1,058 1,944 3,982 8,711
 Other Expenses
 Equity in Loss
 of Joint Venture 105 76 219 76
 Interest 93 200 683 787
 Total 198 276 902 863
 Income Before Income Taxes 860 1,668 3,080 7,848
 Provision for Income Taxes 323 664 1,218 3,185
 Net Income $537 $1,004 $1,862 $4,663
 Net Income per Share $0.05 $0.09 $0.17 $0.42
 Average Common and Common
 Equivalent Shares Outstanding
 (in thousands) 10,957 11,191 11,046 11,234
 BIOWHITTAKER, INC.
 Consolidated Condensed Balance Sheets
 (Dollars in thousands)
 (Unaudited)
 Oct. 31,
 ASSETS 1993
 Current Assets
 Cash $ 364
 Accounts Receivable 8,385
 Inventories 19,119
 Other Prepaid Expenses 665
 Prepaid Income Taxes 218
 Deferred Income Taxes 24
 Total Current Assets 28,775
 Investments
 Investment in Joint Venture 3,541
 Property, Plant and Equipment 35,566
 Less Accumulated Depreciation and Amortization 16,571
 Total Property, Plant and Equipment 18,995
 Other Assets
 Intangibles 7,383
 Miscellaneous 205
 Total 7,588
 Total Assets $58,899
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities
 Notes Payable $ 7,050
 Current Portion of Long-Term Debt 1,191
 Accounts Payable 3,516
 Accrued Liabilities 3,447
 Total Current Liabilities 15,204
 Long-Term Debt 7,087
 Deferred Income Taxes 960
 Stockholders' Equity
 Common Stock 106
 Additional Paid-in Capital 26,633
 Retained Earnings 8,960
 Translation Adjustments (51)
 Total Stockholders' Equity 35,648
 Total Liabilities and Stockholders' Equity $58,899
 -0- 12/13/93
 /CONTACT: Philip L. Rohrer Jr., chief financial officer of BioWhittaker, 301-898-7025, ext. 2369/
 (BWI)


CO: BioWhittaker, Inc. ST: Maryland IN: MTC SU: ERN

DT-DC -- DC001 -- 2999 12/13/93 08:26 EST
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Date:Dec 13, 1993
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