Printer Friendly

NORTH AMERICAN BIOLOGICALS, INC. REPORTS FIRST QUARTER 1993 RESULTS; RETURNS TO PROFITABILITY

 MIAMI, April 27 /PRNewswire/ -- North American Biologicals, Inc. (NABI) (NASDAQ: NBIO) today reported that for its first quarter ended March 31, 1993, sales were $21.5 million, representing a 19 percent increase over sales of $18.1 million for the comparable quarter last year. Net income for the quarter was $424,000, or 3 cents per share, vs. $545,000, or 3 cents per share, in the first quarter 1992.
 Operating income rose 52 percent to $1,254,000 in the quarter, compared to $828,000 in the comparable quarter last year. NABI management attributed the enhanced profitability to improved pricing and increased volume in its plasma business, especially in hyperimmune plasmas, and to sales of H-BIG(R), its Hepatitis-B Immune Globulin product acquired in 1992. The decline in net income, compared with the comparable quarter, was primarily due to increased interest and amortization expenses associated with the company's recapitalization in 1992. Reported net income also included the cumulative effect of a change in accounting for income taxes.
 "We are pleased to have returned to profitability with improved operating margins and operating income," said David J. Gury, NABI's chairman, president and chief executive officer. "Especially gratifying is the success of our newly implemented donor programs and additional collection centers, which are resulting in significant increases in plasma collection. As a result, we are continuing to make progress in supplying our customers' needs for increased amounts of plasma, especially the higher-margin hyperimmune plasmas," Gury added.
 North American Biologicals, Inc. is one of the world's largest providers of human blood plasma elements to the health care industry and is dedicated to improving the quality of human life by providing plasma and plasma-based products for diagnosis or therapy of immune disorders.
 NORTH AMERICAN BIOLOGICALS, INC.
 SELECTED CONSOLIDATED FINANCIAL DATA
 (Dollars in thousands, except per share amounts)
 (unaudited)
 Three Months Ended
 March 31
 1993 1992
 Sales $21,503 $18,098
 Operating income 1,254 828
 Net income $424(a) $545
 Earnings per share: 3 cents(a) 3 cents
 Weighted average number of shares
 and common share equivalents $13,467 $16,701
 (a) Includes the cumulative effect of a change in accounting for income taxes aggregating approximately $100,000, or 1 cent per share, as a result of the company's required adoption of Statement of Financial Accounting Standards No. 109, as of January 1, 1993.
 -0- 4/27/93
 /CONTACT: David J. Gury, chairman, president and CEO, Alfred J. Fernandez, vice president, finance, both of North American Biologicals, Inc., 305-625-5303; Marcia A. Kean or Lori E. Martin of Feinstein Partners Inc., 617-577-8110, for North American Biologicals, Inc./
 (NBIO)


CO: North American Biologicals, Inc. ST: Florida IN: MTC SU: ERN

SJ -- NE008 -- 1298 04/27/93 11:19 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 27, 1993
Words:453
Previous Article:APERTUS TECHNOLOGIES ANNOUNCES ENTERPRISE/ACCESS: TOOL ENABLES INTEGRATION OF LEGACY APPLICATIONS INTO CLIENT/SERVER ENVIRONMENTS
Next Article:CITIZENS CORPORATION ANNOUNCES FIRST QUARTER EARNINGS
Topics:


Related Articles
NORTH AMERICAN BIOLOGICALS REPORTS YEAR-END 1991 RESULTS
NORTH AMERICAN BIOLOGICALS, INC. REPORTS SECOND QUARTER 1992 RESULTS; SALES AND OPERATING INCOME AT RECORD LEVELS FOR QUARTER AND YEAR TO DATE
NORTH AMERICAN BIOLOGICALS, INC. ANNOUNCES THIRD QUARTER AND YEAR-END 1992 OUTLOOK
NORTH AMERICAN BIOLOGICALS REPORTS YEAR-END 1992 RESULTS
NORTH AMERICAN BIOLOGICALS, INC. REPORTS RECORD REVENUES AND PROFITS FOR 1993
NORTH AMERICAN BIOLOGICALS, INC. REPORTS RECORD RESULTS FOR FIRST QUARTER 1994
ICN BIOMEDICALS REPORTS FIRST QUARTER EARNINGS
NORTH AMERICAN BIOLOGICALS, INC. REPORTS RECORD RESULTS FOR THIRD QUARTER AND NINE MONTHS 1994
NORTH AMERICAN BIOLOGICALS, INC. REPORTS RECORD PERFORMANCE FOR 1994
NORTH AMERICAN BIOLOGICALS, INC. REPORTS RECORD RESULTS FOR SECOND QUARTER 1995

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters