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CALGENE ANNOUNCES FIRST HALF RESULTS

 CALGENE ANNOUNCES FIRST HALF RESULTS
 DAVIS, Calif., Feb. 10 /PRNewswire/ -- Calgene Inc.


(NASDAQ: CGNE) today announced a net loss of $8,783,000 ($.67 per common share) on revenues of $8,001,000 for the first six months ended Dec. 31, 1991. This compares with a net loss of $7,516,000 ($.76 per common share) on revenues of $8,025,000 during the same period last year. The loss for the first six months includes a $2,000,000 initial payment in the first quarter to Campbell Soup Co. ($.13 per common share) for the purchase of the exclusive North American fresh market tomato rights to the FLAVR SAVR(TM) gene. The net loss in the first six months of fiscal 1991 included a loss of $1,144,000 from discontinued operations.
 For the quarter ended Dec. 31, 1991 Calgene reported a net loss of $3,995,000 ($.31 per common share) on revenues of $3,743,000, compared to a net loss of $3,874,000 ($.42 per common share) on revenues of $4,102,000 during the same period of the previous year.
 Research and development expenditures for the first six months were $6,176,000, an increase of 23 percent from the prior year's $5,017,000. The increase was due primarily to increased product development field trial activity.
 The net losses reported exclude dividend payments on preferred stock. The net loss per share figures reflect such preferred dividends.
 Calgene Inc., is an agribusiness biotechnology company that is developing improved plant varieties and plant products for the seed, food and specialty chemical industries. The company has four operating subsidiaries -- Ameri-Can Pedigreed Seed Co., Calgene Chemical, Calgene Fresh and Stoneville Pedigreed Seed Co.
 CALGENE, INC.
 Condensed Consolidated Statements of Operations
 (In thousands except per share amounts)
 (Unaudited)
 Three Months Six Months
 Ended Dec. 31 Ended Dec. 31
 1991 1990 1991 1990
 Revenues:
 Product sales, net $ 2,293 $ 2,360 $ 4,677 $ 4,613
 Product development
 revenues 900 1,374 2,132 2,494
 Interest income 413 335 1,009 854
 Other income, net 137 33 183 64
 Total 3,743 4,102 8,001 8,025
 Costs and expenses:
 Cost of goods sold 1,783 2,058 3,446 4,076
 Research and
 development 3,308 2,641 6,176 5,017
 License purchase - - 2,000 -
 Selling, general and
 administrative 2,483 2,309 4,885 4,479
 Equity in net loss of
 affiliate 44 321 44 550
 Interest expense 161 215 357 378
 Total 7,779 7,544 16,908 14,500
 Minority interest share
 of net loss 52 60 107 104
 Gain on sale of assets 1 - 42 -
 Loss on continuing operations
 before income taxes (3,983) (3,382) (8,758) (6,371)
 Provision for income taxes 12 - 25 1
 Loss from continuing
 operations (3,995) (3,382) (8,783) (6,372)
 Loss from discontinued
 operations - (492) - (1,144)
 Net loss $ (3,995) $ (3,874) $ (8,783) $ (7,516)
 Preferred stock
 dividends $ 699 $ 635 $ 1,399 $ 635
 Net loss applicable to
 common shareholders $ (4,694) $ (4,509) $(10,182) $ (8,151)
 Net loss per share:
 Loss from continuing
 operations $ (0.31) $ (0.37) $ (0.67) $ (0.65)
 Loss from discontinued
 operations - (0.05) - (0.11)
 Net loss $ (0.31) $ (0.42) $ (0.67) $ (0.76)
 Shares used per share
 calculations 15,232,433 10,746,236 15,107,974 10,740,233
 -0- 2/10/92
 /CONTACT: Daniel Wagster of Calgene Inc., 916-753-6313/
 (CGNE) CO: Calgene, Inc. ST: California IN: SU: ERN


DG -- SF018 -- 8564 02/10/92 20:57 EST
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Date:Feb 10, 1992
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