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NORTH AMERICAN BIOLOGICALS REPORTS FIRST QUARTER 1992 RESULTS

 NORTH AMERICAN BIOLOGICALS REPORTS FIRST QUARTER 1992 RESULTS
 MIAMI, April 27 /PRNewswire/ -- North American Biologicals, Inc. (NASDAQ: NBIO) (NABI) today reported that for the first quarter ended March 31, 1992, net sales were $18,098,000, representing a gain of 7 percent over sales of $16,812,000 for the comparable quarter last year. Net income for the quarter was $545,000, or 3 cents per share, vs. $526,000, or 3 cents per share, in the first quarter 1991. The current quarter's results do not reflect the recapitalization and acquisition completed on March 31, 1992, in which NABI reduced its number of shares outstanding by 30 percent and also acquired a European-based biologicals business.
 NABI management noted that the company benefited from a rising demand for plasma as evidenced by increasing sales and backlog of plasma orders. Management also commented that non-recurring costs from the implementation of new procedures associated with the Hepatitis C testing, recently mandated by the FDA, affected earnings.
 "Overall, we see this first quarter as the conclusion of one phase in the company's history," said David J. Gury, NABI's president and chief executive officer. "Because of the recently completed recapitalization and acquisition, we see the next quarter as a transition period. For the balance of this year, we are increasing our plasma production to meet rising demand and to fill our backlog of plasma orders. We also intend to pursue opportunities in the area of proprietary plasma-based products."
 NABI intends to expand its current plasma production capacity by more than 20 percent during 1992. A new collection center is currently under construction in Norman, Okla., and two existing centers previously operating under contract to the company, have been acquired with the intention of increasing their plasma collection capabilities. The company is also actively pursuing other acquisitions of collection centers.
 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 data)
 Three months ended
 March 31,
 (unaudited)
 1992 1991
 Net sales $18,098 $16,812
 Income before provision
 for income taxes 757 702
 Provision for income taxes (212) (176)
 Net income 545 526
 Net income per share 3 cents 3 cents
 Weighted average number of shares
 and common share equivalents 15,814 16,701
 -0- 4/27/92
 /CONTACT: David J. Gury, president, or Alfred J. Fernandez, VP-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 SU: ERN


SH -- NE014 -- 3410 04/27/92 17:26 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
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