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LEE PHARMACEUTICALS ANNOUNCES THIRD QUARTER RESULTS

 LEE PHARMACEUTICALS ANNOUNCES THIRD QUARTER RESULTS
 SOUTH EL MONTE, Calif., Aug. 10 /PRNewswire/ -- Lee


Pharmaceuticals (AMEX: LPH) reported a net profit of $4,000 for the quarter ended June 30, 1992 as compared to a net loss of $1,983,000 for the quarter ended June 30, 1991. During the quarter ended June 30, 1992, gross revenues decreased $1,859,000, or 32 percent, from the comparable prior-year quarter; however, net revenues increased by $23,000, or approximately 1 percent, from the comparable prior-year quarter.
 The increase in net revenues was due to significantly lower sales returns. Sales returns of $589,000 in the third quarter of 1992 were approximately $419,000 less than in the second quarter of fiscal 1992. Also, unit shipments of the company's budget line of nail products continue to do quite well.
 Sales of the newly introduced three-item line of Lee Anti-Fungal Nail Treatment products met expectations in the third quarter and were a positive contributor for the company. In addition, during June 1992, the company acquired the Nose Better(TM) line of nasal care products. The Nose Better brand acquisition, from the Wellspring division of Goldline Laboratories Inc., contains two retail items: the natural mist moisturizing spray and an aromatic relief gel.
 A comparison of the operating results is as follows.
 LEE PHARMACEUTICALS
 Financial Highlights
 (in thousands)
 Three Months Ended Nine Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Gross revenues $3,896 $5,755 $13,288 $15,716
 Net revenues $3,261 $3,238 $10,372 $10,725
 Net income (loss) $4 ($1,983) $57 ($2,638)
 Per share:
 Net Income (loss)
 per share $.00 ($.48) $.01 ($.64)
 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, a feminine hygiene line and nasal care line.
 -0- 8/10/92
 /CONTACT: Michael L. Agresti of Lee Pharmaceuticals, 818-442-3141, ext. 375/
 (LPH) CO: Lee Pharmaceuticals ST: California IN: SU: ERN


BP-KJ -- LA028 -- 8750 08/10/92 19:31 EDT
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Date:Aug 10, 1992
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