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CAMBREX REPORTS FIRST QUARTER 1992 EARNINGS

 CAMBREX REPORTS FIRST QUARTER 1992 EARNINGS
 EAST RUTHERFORD, N.J., April 21 /PRNewswire/ -- Cambrex Corporation


(AMEX: CBM) today reported net income of $1.3 million for the first quarter ended March 31, 1992, an increase of 328 percent over $0.3 million for the first quarter 1991.
 On a per share basis (fully diluted), the company reported net income equal to 27 cents per share compared with 6 cents for the first quarter of 1991.
 Net revenues increased to $40.7 million from $31.6 million in the corresponding period of a year ago. The $9.1 million of increased sales included sales of $7.2 million from the company's Charles City, Iowa facility, which was acquired July 1, 1991. We had increased sales of the agricultural, health and pharmaceutical, and fine chemical products of $4.3 million, but had a decline of sales of performance and coatings products of $2.4 million due to discontinued rheologicals and mercury biocides.
 Operating profit increased 117 percent to $2.6 million in the first quarter of 1992 versus $1.2 million in the first quarter of 1991. The increase was attributable to the increased sales volume and reduced major raw material prices, particularly castor oil and acetaldehyde.
 On March 31, the company completed its acquisition of the assets of the chemicals business of Hexcel Fine Chemicals at Zeeland, Mich. It is expected to make a contribution to 1992 earnings. The business, now known as Zeeland Chemicals, Inc., will increase Cambrex's sales of the fine chemicals and pharmaceutical intermediates.
 Cambrex Corporation manufactures a broad line of specialty chemicals, fine chemicals and commodity chemical intermediates. The chemical families of castor oil, pyridine, organometallics, alkenyl succinic anhydrides, organobromines, nitroaromatics, aryl sulfonates and products made in liquid ammonia solvent are the basis for compounds in the company's five product categories: Performance Chemicals, Coatings, Health and Pharmaceuticals, Agricultural Intermediates and Additives, and Specialty and Fine Chemicals.
 CAMBREX CORPORATION
 (In thousands, except earnings per share)
 (000'S omitted)
 Quarter ended March 31 1992 1991
 Net revenues $40,657.0 $31,645.9
 Operating profit 2,625.3 1,200.6
 Net income 1,304.1 303.2
 Earnings per share data (primary)
 Net income 0.27 0.07
 Average shares outstanding 4,807.7 4,644.8
 Earnings per share data (fully diluted):
 Net income 0.27 0.06
 Average shares outstanding 5,074.2 4,666.0
 -0- 4/21/92
 /CONTACT: Peter Tracey, vice president and chief financial officer of Cambrex, 201-804-3010/
 (CBM) CO: Cambrex Corporation ST: New Jersey IN: CHM SU: ERN


KD-OS -- NY027 -- 0482 04/21/92 10:09 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
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