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JONES MEDICAL REPORTS RECORD THIRD QUARTER -- INCOME UP 23 PERCENT

     JONES MEDICAL REPORTS RECORD THIRD QUARTER -- INCOME UP 23 PERCENT
    ST. LOUIS, Nov. 11 /PRNewswire/ -- Jones Medical Industries, Inc. (NASDAQ: JMED), today reported record third quarter results with a 23 percent increase in net income to $747,000, or 8 cents per share, on sales of $5,052,000, for the period ending Sept. 30, 1991.  For the same quarter of 1990 net income was $607,000, or 7 cents per share, on sales of $4,651,000.  Average shares outstanding were up 14.9 percent during the 1991 third quarter to 9,495,000 shares compared to 8,263,000 shares a year ago.
    Results for the nine months ended Sept. 30, 1991, also represented a record with net income up 25 percent to $2,090,000, or 23 cents per share, on sales of $14,505,000.  These results compared to net income for the first nine months of 1990 of $1,668,000, or 22 cents per share, on sales of $13,751,000.
    Average shares outstanding for the 1991 period were up 22.5 percent for the nine months to 9,181,000 shares compared to 7,492,000 shares a year ago.
    Net income, as a percent of sales, increased to 14.8 percent and 14.3 percent, respectively, for the three and nine months 1991 periods, compared to 13.0 percent and 12.1 percent for the same periods of 1990.
    Dennis M. Jones, chairman and CEO, said, "JMED's financial strength continues to strengthen.  In the past nine months our balance sheet reflects an improved current ratio of 4.4:1, compared to 3.3:1 at Dec. 31, 1990.  Our working capital has grown during this period from $10,802,000 to $13,667,000 and shareholder equity has grown from $19,873,000 to $25,689,000.
    "In my opinion, these accomplishments greatly enhance JMED's future prospects for continued rapid growth, both internally and through synergistic acquisitions.  If our shareholders continue to focus on these areas, with a longer term view, I believe they will be duly rewarded."
                   JONES MEDICAL INDUSTRIES, INC.
      Third quarter ended Sept. 30      1991           1990
    Sales                           $ 5,052,000    $ 4,651,000
    Net income                      $   747,000    $   607,000
    Average shares outstanding        9,495,000      8,263,000
    Per share earnings              $       .08    $       .07
      Nine months ended Sept. 30        1991          1990
    Sales                           $14,505,000   $13,751,000
    Net income                      $ 2,090,000   $ 1,668,000
    Average shares outstanding        9,181,000     7,492,000
    Per share earnings              $       .23   $       .22
    -0-                       11/11/91
    /CONTACT:  Jones Medical Industries public relations, 314-432-7557/
    (JMED) CO:  Jones Medical Industries, Inc. ST:  Missouri IN:  MTC SU:  ERN GK -- NY054 -- 3104 11/11/91 14:44 EST
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Publication:PR Newswire
Date:Nov 11, 1991
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