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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. REPORTS SECOND QUARTER 1992 RESULTS; SALES AND OPERATING INCOME AT RECORD LEVELS FOR QUARTER AND YEAR TO DATE
 MIAMI, July 30 /PRNewswire/ -- North American Biologicals, Inc. (NASDAQ: NBIO) (NABI) today reported record sales and operating income for the second quarter and the first six months of 1992. Net sales increased 25 percent to $19,958,000, for the quarter ended June 30, 1992, compared with sales of $16,033,000 for the comparable quarter last year. Net sales rose 16 percent to $38,056,000 for the first six months of 1992, compared with $32,845,000 for the same period in 1991.
 NABI reported operating income of $1,326,000 for the quarter, up 63 percent from $813,000 in the comparable 1991 quarter, and $2,154,000 for the year to date, representing an increase of 38 percent over the comparable period's operating income of $1,564,000.
 During the second quarter and first half of 1992, the company incurred substantial interest expense related to the recapitalization completed in March 1992. As a result, net income was $408,000, or 4 cents per share, for the quarter and $953,000, or 7 cents per share, for the first half of 1992. This compares with net income of $557,000, or 4 cents per share, in the second quarter of 1991 and $1,083,000, or 7 cents per share for the six months ended June 30, 1991.
 NABI management noted that the significant gains in revenue were primarily a result of growing demand for plasma products. The growth in operating income was attributable to higher overall volume, as well as to the ongoing shift in product mix towards higher margin products.
 "The transition period that began in April following our recapitalization is progressing extremely well, and we have already fulfilled many of the objectives we set for NABI's new era," said David J. Gury, NABI's president and CEO.
 "For example, we have achieved significant increases in revenues, particularly from our European customer base. In respose to the worldwide shortage of plasma and our own substantial backlog of orders, we have intensified our donor recruitment activities and have also increased our plasma collection capacity by approximately 25 percent since the recapitalization," Gury added.
 "Moving forward, we intend to improve profitability by increasing our volume of plasma collections, by continuously enhancing the product mix and by broadening our product portfolio with additional proprietary plasma-based products," he said.
 North American Biologicals, Inc. headquartered in Miami, Fla., is the world's largest independent provider of human blood plasma elements to the health care industry, one of the largest AIDS screening laboratories in the world, and a leading supplier of control products used to ensure accuracy in blood testing laboratories.
 NORTH AMERICAN BIOLOGICALS, INC.
 Selected Consolidated Financial Data
 ($ thousands, except per share amounts)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Net sales $19,958 $16,033 $38,056 $32,845
 Cost of products sold 16,665 13,718 32,171 28,310
 Gross margin 3,293 2,315 5,885 4,535
 Selling, general and
 administrative expenses 1,967 1,502 3,731 2,971
 Operating income 1,326 813 2,154 1,564
 Interest and other income --- 72 40 166
 Interest expense (760) (113) (871) (256)
 Income before provision
 for income taxes 566 772 1,323 1,474
 Provision for income taxes 158 215 370 391
 Net income $408 $557 $953 $1,083
 Net income per share 4 cents 4 cents 7 cents 7 cents
 Weighted average number
 of shares and common
 share equivalents 11,542 15,754 14,122 15,784
 -0- 7/30/92
 /CONTACT: Alfred J. Fernandez, vice president finance of North American Biologicals, 305-625-5303 or Lori Martin of Feinstein Partners 617-577-8110, for North American Biologicals/
 (NBIO) CO: North American Biologicals, Inc. ST: Florida IN: MTC HEA SU: ERN


CH -- NE014 -- 5108 07/30/92 12:50 EDT
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Date:Jul 30, 1992
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