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LEE PHARMACEUTICALS ANNOUNCES SECOND QUARTER RESULTS

 LEE PHARMACEUTICALS ANNOUNCES SECOND QUARTER RESULTS
 LOS ANGELES, May 14 /PRNewswire/ -- Lee Pharmaceuticals (AMEX: LPH)


reported a net profit of $98,000 for the quarter ended March 31, 1992, as compared to a net loss of $659,000 for the quarter ended March 31, 1991. During the quarter ended March 31, 1992, gross revenues decreased $492,000 or 9 percent from the comparable prior year quarter; however, net revenues increased by $329,000 or 9 percent from the comparable prior year quarter.
 The increase in net revenues was due to significantly lower sales returns. Sales returns in the second quarter of 1992 of $1,008,000 were approximately $194,000 less than in the first quarter of fiscal 1992. Also, unit shipments of the company's budget line of nail products was up over the comparable quarter of a year ago.
 The company successfully launched a three-item line of Lee Anti- Fungal Nail Treatment products during the current March quarter. This line was developed internally to help prevent and/or attack nail fungus problems on both natural and especially artificial fingernails. The BetaQuartz Glass Ceramic Insert sales were higher for the March 1992 quarter vs. the December 1991 quarter. This is a dental product which is the replacement of silver amalgam in filling dental cavities.
 A comparison of the operating results is as follows:
 LEE PHARMACEUTICALS
 (Thousands omitted)
 Three Months Ended Six Months Ended
 March 31, March 31,
 1992 1991 1992 1991
 Gross revenues $4,949 $5,441 $9,392 $9,961
 Net revenues $3,907 $3,578 $7,111 $7,487
 Net income (loss) $98 ($659) $54 ($655)
 Per share:
 Net income (loss)
 per share $.02 ($.16) $.01 ($.16)
 Lee Pharmaceuticals is engaged in the research, development, purchase, manufacture and marketing of a range of professional dental products and consumer products, including nail care products, depilatories, eye care products and a feminine hygiene line.
 -0- 5/14/92
 /CONTACT: Michael L. Agresti of Lee Pharmaceuticals, 818-442-3141, ext. 375/
 (LPH) CO: Lee Pharmaceuticals ST: California IN: MTC SU: ERN


AL-CH -- LA019 -- 0297 05/14/92 13:56 EDT
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Date:May 14, 1992
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