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INTERNATIONAL MUREX TECHNOLOGIES CORPORATION REPORTS SECOND QUARTER 1993 FINANCIAL RESULTS

 NORCROSS, Ga., Aug. 9 /PRNewswire/ -- International Murex Technologies Corporation (AMEX: MXX; TSE) (IMTC) today reported financial results for the second quarter ended June 30.
 IMTC reported total revenues of $20,753,000 and breakeven earnings per share compared to revenues of $20,236,000 and a loss of ($.03) per common share for the first quarter of 1993. The 1993 second quarter results demonstrate greater operating efficiencies over the first quarter of 1993 and significant improvement over the fourth quarter of 1992 which had a loss from operations of ($.39) per share before restructuring costs and a goodwill write-off. In the second quarter of 1992, IMTC reported sales of $19,591,000 and earnings of $.03 per share.
 "The second quarter results continued to show the beneficial effects of the cost reduction efforts implemented in the second half of 1992," stated C. Robert Cusick, vice chairman and chief executive officer of IMTC. "Under the operational direction of our new President and Chief Operating Officer, J. David Tholen, we expect that our financial results will continue to improve on a quarter-to-quarter basis in 1993 and that IMTC will report a profit in both the third and fourth quarters."
 IMTC revenues increased primarily due to an improvement in new product sales. Gross margins also improved on a quarter-to-quarter basis to 70.5 percent of sales in the second quarter of 1993 compared to 64 percent of sales in the first quarter of 1993.
 IMTC sales increased by 6 percent in the second quarter of 1993 over the same period last year. This increase is significant when considering that during the period there was approximately a 7 percent adverse movement in exchange rates relative to the dollar. This negative variance had a direct impact on all non-U.S. sales which comprise 72 percent of company revenues.
 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. IMTC has an FDA-licensed manufacturing facility in Norcross. Additionally, the company's European subsidiary, Murex Diagnostics, 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 635 people worldwide. The company manufactures and markets more than 600 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)
 6/30/93 12/31/92
 Total current assets $ 45,539 $ 49,764
 Total assets 55,480 59,844
 Total current liabilities 21,013 23,012
 Long-term debt --- ---
 Shareholders' equity 32,641 34,862
 SELECTED CONSOLIDATED STATEMENTS OF OPERATIONS ITEMS
 (In thousands of U.S. dollars, except per share data)
 3 mos. ended 6/30/93 6/30/92
 Total revenues $ 20,753 $ 19,591
 Cost of product sales $ 6,131 $ 5,679
 Research and development 1,963 2,117
 General and administrative 3,950 4,205
 Sales and marketing 6,758 7,095
 Other expenses 1,624 (3)
 Total costs and expenses $ 20,426 $ 19,093
 Income (loss) from operations $ 327 $ 498
 Net income (loss) $ (18) $ 440
 Net income (loss) per common share $ .00 $ .03
 Weighted average common
 shares outstanding 15,773 15,960
 6 mos. ended 6/30/93 6/30/92
 Total revenues $ 41,022 $ 33,591
 Cost of product sales $ 13,428 $ 9,065
 Research and development 3,471 3,453
 General and administrative 8,629 7,134
 Sales and marketing 12,346 11,500
 Other expenses 3,096 1,270
 Total costs and expenses $ 40,970 $ 32,422
 Income (loss) from operations $ (158) $ 1,169
 Net income (loss) $ (429) $ 1,114
 Net income (loss) per common share $ (.03) $ .07
 Weighted average common
 shares outstanding 15,818 15,850
 -0- 8/9/93
 /CONTACT: C. Robert Cusick, vice chairman and chief executive officer, or Marcia M. Young of International Murex Technologies, 800-322-1332, or 404-662-0660/
 (MXX)


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

RA-TG -- AT001 -- 0600 08/09/93 08:21 EDT
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Date:Aug 9, 1993
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