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LEE PHARMACEUTICALS ANNOUNCES FIRST QUARTER RESULTS

 LOS ANGELES, Feb. 12 /PRNewswire/ -- Lee Pharmaceuticals (AMEX: LPH) reported a net loss of $61,000 for the quarter ended Dec. 31, 1992, as compared to a net loss of $44,000 for the quarter ended Dec. 31, 1991. During the quarter ended Dec. 31, 1992, gross revenues decreased $697,000, or 16 percent, from the comparable prior-year quarter. The decrease in gross revenues was because of lower sales of the company's nail products. This reduction in sales volume was partially offset by sales of new products. Lee Fancy Fingers lines continued to perform well.
 Net revenues increased by $210,000, or 7 percent, from the comparable prior-year quarter. The increase in net revenues was because of a significant reduction in the level of sales returns.
 A comparison of the operating results is as follows:
 Three Months Ended
 Dec. 31,
 (000 omitted)
 1992 1991
 Gross revenues $3,745 $4,442
 Net revenues $3,413 $3,203
 Net loss ($61) ($44)
 Per share:
 Net loss per share ($.01) ($.01)
 Lee Pharmaceuticals in engaged in the research, development, purchase, manufacture and marketing of a range of professional dental products, including BetaQuartz Glass-Ceramic Inserts, and consumer products, namely nail care products, depilatories, a feminine hygiene line and over the counter drug items.
 -0- 2/12/93
 /CONTACT: Michael L. Agresti, VP-finance of Lee Pharmaceuticals, 818-442-3141, ext. 375/
 (LPH)


CO: Lee Pharmaceuticals ST: California IN: HOU SU: ERN

JB-KJ -- LA020 -- 6302 02/12/93 16:49 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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