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DURAMED REPORTS SECOND QUARTER RESULTS FOR 1993

 CINCINNATI, July 15 /PRNewswire/ -- E. Thomas Arington, chairman and president of Duramed Pharmaceuticals, Inc. (OTC Bulletin Board: DRMD) announced today the company's operating results for the second quarter ended June 30, 1993. Net sales were $7,072,000 resulting in net income of $208,000. For the six months ended June 30, 1993 net sales were $13,645,000 resulting in net income of $315,000.
 Arington stated "while operating results reflect improved performance, increased competition on selected items, and planned commitments for new product development will likely have a negative impact on the company's ongoing results. At the same time, the company continues to pursue other potential sources of increased revenues."
 The following table sets forth Duramed's comparative results for the quarters ended June 30, 1993 and 1992:
 Three Months Ended
 (In thousands except per share June 30
 amounts and shares outstanding) 1993 1992
 Net sales $ 7,072 $ 3,262
 Cost of goods sold 4,649 2,105
 Gross profit 2,423 1,157
 Operating expenses 1,706 789
 Operating income 717 368
 Interest expense 509 471
 Net income (loss) $ 208 $ (103)
 Earnings (loss) per average
 common and common equivalent
 share outstanding $ .03 $ (.02)
 Weighted average number of
 common and common equivalent
 shares outstanding 7,533,614 6,598,564
 Six Months Ended
 (In thousands except per share June 30
 amounts and shares outstanding) 1993 1992
 Net sales $13,645 $ 6,337
 Cost of goods sold 9,387 4,079
 Gross profit 4,258 2,258
 Operating expenses 2,941 1,889
 Operating income 1,317 369
 Interest expense 1,002 931
 Net income (loss) $ 315 $ (562)
 Earnings (loss) per average
 common and common equivalent
 share outstanding $ .04 $ (.09)
 Weighted average number of
 common and common equivalent
 shares outstanding 7,557,984 5,586,314
 Duramed Pharmaceuticals, Inc. manufactures and sells generic drug products comprised of various dosages of prescription and over-the- counter drugs. The company's stock is traded on the OTC Bulletin Board under the symbol DRMD.
 -0- 7/15/93
 /CONTACT: E. Thomas Arington, chairman and chief executive officer, or Timothy J. Holt, vice president-finance, both of Duramed Pharmaceuticals, Inc., 513-731-9900/
 (DRMD)


CO: Duramed Pharmaceuticals, Inc. ST: Ohio IN: MTC SU: ERN

BM -- CL022 -- 2103 07/15/93 15:07 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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