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MENLEY & JAMES FIRST QUARTER 1993 RESULTS

 HORSHAM, Pa., May 5 /PRNewswire/ -- Menley & James, Inc. (NASDAQ: MENJ) today reported that for the first quarter ended March 31, 1993, net sales were $6.2 million, compared to $5.6 million in 1992. The company had a net loss, before the cumulative effect of a change in accounting for income taxes, of $37,000, or $0.01 per share. After taking into consideration the accounting charge which represented the benefit of recording $1.9 million in deferred tax assets arising from the adoption of Statement of Financial Accounting Standards No. 109 "Accounting for Income Taxes," the company had net income of $1.9 million, or $0.30 per share. For the same period in 1992, the company had net income, before an extraordinary item, of $373,000, or $0.07 per share, and a net loss, after the extraordinary item, of $217,000, or $0.02 per share.
 "Results for the first quarter were consistent with our expectations and reflect both increased investment in marketing support and encouraging trends in three key brands: Garfield's(R) Children's Multivitamins, Serutan(R) natural fiber bulk laxative, and Hold(R) cough suppressant lozenges," said Larry White, president and chief executive officer.
 "We continued to gain market share for Garfield(R) and have now obtained distribution for the product through all of our major accounts, including all leading mass merchandisers. Hold(R) recorded strong double digit consumer sales gains versus a year ago, and we believe this positive trend will translate into better factory sales going forward. Factory sales of Serutan(R) expanded significantly in those lead markets where our new physician detailing program with Kabi Pharmacia has been in place for several months. We are now in the process of introducing this program nationally."
 Menley & James produces and markets a diversified portfolio of 33 over-the-counter (OTC) pharmaceutical and toiletry products sold in drug stores, supermarkets and mass merchandisers throughout the United States.
 MENLEY & JAMES, INC.
 Selected Consolidated Data
 (In thousands, except per share amounts)
 First quarter ended March 31, 1992 1993
 Net sales $ 5,629 $ 6,243
 Cost of goods sold 2,056 2,467
 Gross profit 3,573 3,776
 Selling, general and
 administrative expenses 2,433 3,191
 Depreciation and amortization 389 456
 Income from operations 751 129
 Interest expense 378 199
 Income (loss) before income taxes 373 (70)
 Provision (benefit) for income taxes -- (33)
 Income (loss) before extraordinary
 item and cumulative effect of change
 in accounting for income taxes 373 (37)
 Extraordinary item, net of tax (590) --
 Cumulative effect as of Dec. 31,
 1992 of change in method of
 accounting for income taxes -- 1,900
 Net income (loss) $ (217) $ 1,863
 Income (loss) applicable to common
 shares before extraordinary item
 and cumulative effect of change in
 accounting for income taxes,
 supplemental $ 461(A) $ (37)
 Net income (loss) applicable
 to common shares, supplemental $ (129)(A) $ 1,863
 Per share of common stock:
 Income (loss) before extraordinary
 item and cumulative effect of
 change in accounting for income
 taxes, supplemental $ 0.07(A) $ (0.01)
 Extraordinary item, net of tax (0.09) --
 Cumulative effect of accounting change -- 0.31
 Net income (loss), supplemental $ (0.02)(A) $ 0.30
 Weighted average common shares
 outstanding, supplemental 6,256(A) 6,148
 (A) Adjusted to reflect the sale of 2,300,000 shares of common stock by the company and the application of the net proceeds there from.
 -0- 5/5/93
 /CONTACT: Larry White, president and chief executive officer of Menley & James, Inc., 215-441-6500, or Fred Spar of Kekst and Company, 212-593-2655, for Menley & James, Inc./
 (MENJ)


CO: Menley & James, Inc. ST: Pennsylvania IN: MTC SU: ERN

SM -- NY085 -- 5048 05/05/93 16:53 EDT
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Date:May 5, 1993
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