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INTERNATIONAL MUREX TECHNOLOGIES CORPORATION REPORTS FIRST QUARTER 1993 FINANCIAL RESULTS

 NORCROSS, Ga., May 11 /PRNewswire/ -- International Murex Technologies Corporation (AMEX: MXX; TSE) (IMTC) today reported financial results for the first quarter ended March 31.
 IMTC reported total revenues of $20,269,000 and a loss of ($.03) per share compared to revenues of $14 million and earnings of $.04 per common share for the first quarter of 1992. The first quarter 1993 results demonstrate a significant improvement from operations over the fourth quarter of 1992, which showed a loss from operations of ($.39) per share before restructuring costs and a goodwill write-off. IMTC acquired Wellcome Diagnostics (now Murex Diagnostics) (MD) on Feb. 6, 1992, and therefore the first quarter of 1992 reflected only two months of MD operations.
 "IMTC is beginning to realize the beneficial effects of the cost reduction efforts we began to implement in the second half of 1992. This quarter shows a major improvement from the losses incurred in the third and fourth quarters of 1992, and provides an indication of operational trends. We expect that our financial results will continue to improve on a quarter-to-quarter basis in 1993 and that the company will be profitable in 1993," stated C. Robert Cusick, president and chief executive officer of IMTC.
 "We previously reported first quarter 1993 Single Use Diagnostic System (SUDS/R/) HIV-1 Antibody Test sales of $438,000 vs. $550,000 for all of 1992. This trend continues to improve with April sales of $210,000," stated Cusick.
 IMTC reported cash of $6.4 million and no long-term debt for the quarter ended March 31. Working capital was reported at $25.8 million.
 IMTC is a medical diagnostic products company dedicated to the research, manufacture and marketing of products for the detection, monitoring and screening of infectious diseases and other medical conditions, and for blood grouping. IMTC has FDA licensed manufacturing facilities in Norcross and Dartmouth, Nova Scotia. Additionally, the company's European subsidiary, MD, of Dartford, England, was one of the first U.K.-based in vitro diagnostic companies certified under the ISO 9001 regulations covering the design, manufacture and distribution of medical diagnostic products. IMTC employs approximately 670 people worldwide. The company manufactures and markets more than 650 products including a range of mass screening diagnostic tests and its unique rapid (10) minute SUDS tests for the detection of antibodies to HIV-1 and HIV-1+2.
 INTERNATIONAL MUREX TECHNOLOGIES CORPORATION
 Selected Balance Sheet Items
 (In thousands of U.S. Dollars)
 3/31/93 3/31/92
 Total assets $ 58,141 $ 66,965
 Total current assets 47,811 60,127
 Total current liabilities 21,997 15,452
 Long-term debt --- 69
 Shareholders' equity $ 34,319 $ 51,384
 Selected Consolidated Statements of Operations Items
 (In thousands of U.S. dollars, except per share data)
 3 mos. ended 3/31/93 3/31/92(a)
 Total revenues $ 20,269 $ 14,000
 Cost of product sales 7,297 3,386
 Research and development 1,508 1,336
 General and administrative 4,679 2,929
 Sales and marketing 5,588 4,405
 Other expenses 1,472 1,273
 Total costs and expenses 20,544 13,329
 Income (loss) from operations (275) 671
 Net income (loss) $ (411) $ 674
 Per common share:
 Net income (loss) $ (.03) $ .04
 Weighted average common
 shares outstanding 15,863 15,928
 (a) Reflects only two months of MD operations
 -0- 5/11/93
 /CONTACT: C. Robert Cusick, president and chief executive officer, or Marcia M. Young, director of Corporate Communications of International Murex Technologies, 800-322-1332 or 404-662-0660/
 (MXX)


CO: International Murex Technologies Corporation ST: Georgia IN: MTC SU: ERN

BR-BN -- AT014 -- 7172 05/11/93 15:15 EDT
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Date:May 11, 1993
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