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CHRONIMED ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS

 CHRONIMED ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS
 MINNEAPOLIS, Aug. 24 /PRNewswire/ -- Chronimed Inc. (NASDAQ: CHMD),


today announced its fourth quarter and annual results for the period ended June 30, 1992.
 Chronimed reported net income for the year of $453,763, up from a loss of $36,666 for the prior year. Income per share was $.10 for the year compared to a loss of $.01 the prior year. Revenue for the year was $20.4 million, up 62 percent from $12.6 million in fiscal 1991.
 The net income for the fourth quarter of 1992 was $232,013, compared to $62,287 in the fourth quarter of 1991. Revenue for the quarter was up 48 percent from $4.2 million in 1991 to $6.2 million this year. Last year's fourth quarter revenue included a one-time manufacturer's promotion. Excluding that promotion, sales would have increased 83 percent quarter to quarter. Quarterly weighted average common and equivalent shares outstanding increased from 3.77 million a year earlier to 6.41 million this quarter principally due to the company's initial public offering in March 1992.
 The company has entered into a joint marketing agreement with Scientific Hospital Supplies UK Group Ltd. (SHS) to market and distribute clinical nutrition products within the North American market.
 SHS, based in Liverpool, England, is an internationally recognized leader in manufacturing niche clinical nutrition products indicated for unique chronic conditions. SHS is a wholly owned subsidiary of the Finnish company Valio International whose annual sales exceed $2 billion.
 The agreement grants Chronimed exclusive distribution rights for products targeted for individuals affected by end stage renal disease, cystic fibrosis, Crohn's Disease and several orphan disease conditions.
 Chronimed Inc. is a Minnesota-based distributor of prescription drugs, medical and nutritional products and proprietary educational materials by mail order to people with chronic health conditions.
 CHRONIMED INC.
 (In thousands, except per share data)
 Fourth Quarter Ended Year Ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Revenue $6,216 $4,190 $20,397 $12,599
 Percent change 48 -- 62 --
 Net income (loss) $232 $62 $454 $(37)
 Net income (loss) per share $.04 $.02 $.10 $(.01)
 Weighted average common
 and equivalent shares
 outstanding (000s) 6,412 3,773 4,532 3,448
 -0- 8/24/92
 /CONTACT: Maurice R. Taylor II of Chronimed, 612-541-0239/
 (CHMD) CO: Chronimed Inc. ST: Minnesota IN: MTC SU: ERN


AL -- MN014 -- 3189 08/25/92 17:05 EDT
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Publication:PR Newswire
Date:Aug 25, 1992
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