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BIOWHITTAKER ANNOUNCES THIRD QUARTER RESULTS

 WALKERSVILLE, Md., Aug. 23 /PRNewswire/ -- BioWhittaker, Inc. (NYSE: BWI), today announced the results of its operations for the third quarter of fiscal 1993 which ended July 31, 1993.
 Net income for the quarter amounted to $501,000, or 5 cents per share, compared to $1,343,000, or 12 cents per share for the same quarter a year ago. Sales for the quarter amounted to $12,406,000 compared to $12,834,000 for the same quarter a year ago.
 Commenting, Joseph F. Alibrandi, chairman, said, "We are disappointed with these results, but we are in the process of taking a number of actions that will greatly improve our performance for fiscal 1994."
 BioWhittaker, Inc., develops and produces clinical diagnostic testing systems, cell culture products, 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)
 For the Three Months For the Nine Months
 Ended July 31, Ended July 31,
 1993 1992 1993 1992
 Sales $12,406 $12,834 $37,919 $38,550
 Costs and Expenses
 Cost of Sales 7,343 6,095 21,986 18,586
 Research and Development 745 529 2,255 1,762
 Selling, General and
 Administrative 3,342 3,764 10,754 11,435
 Total 11,430 10,388 34,995 31,783
 Income From Operations 976 2,446 2,924 6,767
 Other Expenses
 Equity in Loss
 of Joint Venture 10 -- 114 --
 Interest 191 200 590 587
 Total 201 200 704 587
 Income Before Income Taxes 775 2,246 2,220 6,180
 Provision for Income Taxes 274 903 895 2,521
 Net Income $501 $1,343 $1,325 $3,659
 Net Income per Share $0.05 $0.12 $0.12 $0.33
 Average Common and Common
 Equivalent Shares Outstanding
 (in thousands) 11,046 11,221 11,069 11,221
 Unaudited
 BIOWHITTAKER, INC.
 Consolidated Condensed Balance Sheets
 (Dollars in thousands)
 July 31,
 ASSETS 1993
 Current Assets
 Cash $ 858
 Accounts Receivable 8,271
 Inventories 20,268
 Other Prepaid Expenses 693
 Prepaid Income Taxes 518
 Total Current Assets 30,608
 Investments
 Investment in Joint Venture 2,717
 Property, Plant and Equipment 32,688
 Less Accumulated Depreciation and Amortization 15,641
 Total Property, Plant and Equipment 17,047
 Other Assets
 Intangibles 7,553
 Miscellaneous 94
 Total 7,647
 Total Assets $58,019
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current Liabilities
 Notes Payable $ 7,712
 Current Portion of Long-Term Debt 1,481
 Accounts Payable 3,069
 Accrued Liabilities 3,737
 Deferred Income Taxes 60
 Total Current Liabilities 16,059
 Long-Term Debt 5,962
 Deferred Income Taxes 887
 Stockholders' Equity
 Common Stock 105
 Additional Paid-in Capital 26,703
 Retained Earnings 8,423
 Translation Adjustments (120)
 Total Stockholders' Equity 35,111
 Total Liabilities and Stockholders' Equity $58,019
 Unaudited
 -0- 8/23/93
 /CONTACT: James D. Werner Jr., chief financial officer, BioWhittaker, Inc., 301-898-7025, ext. 2330/
 (BWI)


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

TW-DC -- DC003 -- 4911 08/23/93 08:14 EDT
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Date:Aug 23, 1993
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