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MELAMINE CHEMICALS, INC. REPORTS THREE MONTHS RESULTS

 DONALDSONVILLE, La., Oct. 15 /PRNewswire/ -- Melamine Chemicals, Inc. (NASDAQ: MTWO), today announced the results of its operations for the quarter ended Sept. 30, 1993.
 Net losses for the three months ended Sept. 30, 1993, were $1,240,000 or $.23 per share as compared to net losses of $889,000 or $.16 per share a year ago.
 Fred Huber, president and chief executive officer, stated that the first quarter losses were primarily the result of sales prices being 10 percent below the same period a year ago. Because of the oversupply situation caused by severe recessions in Europe and the Far East, competition continues to be fierce in the world marketplace. During the first quarter of fiscal 1994, production was 9 percent higher than the prior year while cost of production was about 4 percent lower.
 Melamine Chemicals, Inc. is engaged in the production of and marketing of melamine, a specialty chemical having numerous industrial and commercial applications. The company is actively engaged in the development of new melamine process and application technology. The company is one of only two producers of melamine in North America and one of the five largest producers worldwide.
 MELAMINE CHEMICALS, INC.
 Comparative Operating Results
 (Thousands of dollars except share and per share data)
 Quarter ended 9/30/93 9/30/92
 Net sales $ 8,414 $ 8,889
 Net (losses) (1,240) (889)
 (Losses) per share (.23) (.16)
 Average shares outstanding 5,450,000 5,450,000
 -0- 10/15/93
 /CONTACT: Ron Como & Associates, Inc., 212-227-3010/
 (MTWO)


CO: Melamine Chemicals, Inc. ST: Louisiana IN: CHM SU: ERN

GK-OS -- NY068 -- 2897 10/15/93 16:18 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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