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FISHER SCIENTIFIC INTERNATIONAL INC. REPORTS SECOND QUARTER EARNINGS

FISHER SCIENTIFIC INTERNATIONAL INC. REPORTS SECOND QUARTER EARNINGS
 HAMPTON, N.H., April 23 /PRNewswire/ -- Fisher Scientific International, (NYSE: FSH) in the three months ended March 31, 1992 achieved net income of $4.9 million, or 32 cents per share, up 75 percent from net income of $2.8 million, or 19 cents per share, in the first quarter of 1991.
 The oldest and largest supplier of instruments, equipment and other products to the scientific community in North America posted first quarter 1992 sales of $195.8 million, a gain of 13 percent from the sales of $173.4 million in the corresponding period of last year.
 "Fisher's improved results reflect several positive factors, including a broadly based increase in demand for scientific instruments, equipment and supplies and the continued reduction in selling and administrative expenses as a percent of sales," Paul M. Montrone, president and chief executive officer commented. "We expect the improvement in sales and earnings to continue."
 FISHER SCIENTIFIC INTERNATIONAL INC.
 FINANCIAL HIGHLIGHTS
 (In Millions except per share amounts)
 Three Months Ended
 March 31,
 1992 1991
 Sales $195.8 $173.4
 Cost of sales 132.6 118.7
 Selling, general
 and administrative
 expense 52.4 47.6
 Income from
 operations before
 post retirement
 benefit costs
 other than
 pensions 10.8 7.1
 Post retirement
 benefit costs
 other than
 pensions 1.4 1.3
 Income from operations 9.4 5.8
 Interest and other
 expense, net 0.3 0.6
 Income before income
 taxes 9.1 5.2
 Income tax provision 4.2 2.4
 Net income $4.9 $2.8
 Net earnings per
 common share 32 cents 19 cents
 Weighted average
 common shares
 outstanding(a) 15.2(a) 15.0(b)
 ----
 NOTE: (a) Reflects the exercise of an underwriters' over-allotment option of 975,000 shares in connection with The Henley Group, Inc.'s March 18, 1992 sale of its remaining 6.5 million shares of Fisher Common Stock.
 (b) Assumes that the 15 million shares of common stock outstanding following the December 1991 initial public offering of Fisher Scientific International Inc. were outstanding for all periods presented.
 -0- 4/23/92
 /CONTACT: Norman Ritter of Fisher Scientific International, 603-929-2650/
 (FSH) CO: Fisher Scientific International ST: New Hampshire IN: MTC SU: ERN


TM -- NE008 -- 1709 04/23/92 09:36 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
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