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MARINE HARVEST INTERNATIONAL, INC. ANNOUNCES FIRST-QUARTER RESULTS

 WOODBRIDGE, N.J., Feb. 16--Marine Harvest International, Inc. (AMEX: MHI) today reported record quarterly earnings of $1.6 million ($.14 per share) for the period ended Dec. 31, 1992, on record sales of $34.4 million, compared with a net loss of $.1 million on sales of $19.3 million for the same period in 1991.
 In commenting on the company's first quarter, John A. Mistretta, chairman and chief executive officer, said: "These positive results indicate the success of our strategy to concentrate on our growing aquaculture operations. A particularly strong two-month earnings contribution was made from the salmon business which was acquired at the end of October 1992. While the current winter quarter, our second quarter, is normally the weakest of the year due to seasonally slow consumption of both salmon and shrimp, the overall outlook for our company continues to be favorable for the balance of the year."
 Marine Harvest is a world leader in aquaculture and is engaged in salmon and shrimp aquaculture operations.
 Marine Harvest International, Inc.
 Consolidated Summary of Operations
 (In thousands, except per share data)
 December 31, 1992 1991
 Net sales $34,364 $19,267
 Operating income 3,111 380
 Net income (loss) 1,557 (131)
 Net income (loss) per common share $ .14 $ (.02)
 -0- 2/16/93
 /CONTACT: Diana Burton of Marine Harvest, 908-750-1122/
 (MHI)


CO: Marine Harvest International ST: New Jersey IN: FOD SU: ERN

KD -- NY038 -- 6780 02/16/93 09:57 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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