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ICN BIOMEDICALS ANNOUNCES YEAR-END RESULTS

 COSTA MESA, Calif., April 1 /PRNewswire/ -- ICN Biomedicals Inc. (AMEX: BIM) said today that primarily as a result of a previously announced special fourth quarter charge it had a significant loss for 1992.
 A loss of $87.4 million, or $4.80 per share, on sales of $75.6 million in 1992, compared to a loss of $12.9 million, or $1.09 per share, on sales of $96.5 million in 1991.
 The previously announced special non-cash charge and other adjustment resulting from restructuring totaled approximately $73 million and included the write-down of obsolete and slow-moving inventory and the write-off of goodwill.
 The company continued to significantly eliminate debt in 1992 by $30 million. Debt has been reduced by more than $64 million over the past three years.
 The loss in the fourth quarter, including the write-down, was $78.4 million, or $4.09 a share, on sales of $17 million compared to a loss of $13.4 million, or $1.12 a share, on sales of $21 million in the fourth quarter of 1991.
 ICN Biomedicals, with more than 55,000 products and sales in 130 nations, is a major world supplier of biotechnology research products and medical diagnostics.
 ICN BIOMEDICALS INC.
 Summary Financial Information
 For the Three and 12 Months ended Dec. 31, 1992 and 1991
 (Unaudited)
 (Amounts in Thousands)
 Three Months Ended 12 Months Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Sales $16,819 $20,828 $75,648 $96,507
 Net loss (78,420) (13,399) (87,420) (12,892)
 Loss per share ($4.09) ($1.12) ($4.80) ($1.09)
 -0- 4/1/93
 /CONTACT: Paul Knopick of ICN Biomedicals, 714-545-0100, ext. 2465/
 (BIM)


CO: ICN Biomedicals Inc. ST: California IN: MTC SU: ERN

LS-BP -- LA034 -- 2322 04/01/93 20:18 EST
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Publication:PR Newswire
Date:Apr 1, 1993
Words:300
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