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NUTRAMAX PRODUCTS REPORTS RECORD SECOND QUARTER SALES AND EARNINGS

NUTRAMAX PRODUCTS REPORTS RECORD SECOND QUARTER SALES AND EARNINGS
 GLOUCESTER, Mass., April 13 /PRNewswire/ -- Nutramax Products, Inc. (NASDAQ: NMPC), a manufacturer and marketer of private-label health and personal care products, reported record sales and earnings for the second quarter ended March 31, 1992.
 Sales for the quarter were $6,196,000, an increase of 17 percent over second quarter 1991 sales of $5,296,000. Gross profit increased to a record of $2,823,000, an increase of 22 percent over the 1991 second quarter gross profit of $2,309,000. As a percentage of sales, gross profit increased from 44 percent in 1991 to 46 percent in 1992. Net income for the quarter increased 64 percent to a record $904,000, or 11 cents per share, based on 8,087,000 shares outstanding in fiscal 1992 from $550,000, or 9 cents per share, based on 5,895,000 shares outstanding in the comparable fiscal 1991 quarter.
 For the six months ended March 31, 1992, sales were $11,586,000 compared to $9,707,000 during the same fiscal 1991 period, an increase of 19 percent. Gross profit increased from $4,081,000 in 1991 to $5,133,000 in 1992, an increase of 26 percent, and as a percentage of sales gross profit increased from 42 percent to 44 percent. Net income increased 88 percent to $1,535,000, or 19 cents per share, from $818,000, or 14 cents per share, in 1991.
 Donald E. Lepone, president and chief executive officer, reported that these record sales and profits are consistent with the company's 1992 business plan and reflect the ongoing strength of its disposable douche product lines plus a greater than 91 percent increase in disposable baby bottle sales. In addition, greater promotional support from key customers continued to drive consumer purchases across all classes of trade. The company also began shipping Pediatric Electrolyte late in the quarter and anticipates this new product will positively impact on future quarters.
 NUTRAMAX PRODUCTS, INC.
 Operating Results
 Three Months Ended Six Months Ended
 March 31 March 31
 1992 1991 1992 1991
 Net sales $6,196,000 $5,296,000 $11,586,000 $9,707,000
 Gross profit 2,823,000 2,309,000 5,133,000 4,081,000
 Net income 904,000 550,000 1,535,000 818,000
 Earnings per
 share 11 cents 9 cents 19 cents 14 cents
 Weighted
 average shares
 outstanding 8,087,000 5,895,000 8,087,000 5,895,000
 -0- 4/13/92
 /CONTACT: Michael F. Sandler, chief financial officer of Nutramax Products, 609-665-9300/
 (NMPC) CO: Nutramax Products, Inc. ST: Massachusetts IN: HOU SU: ERN


SH-EG -- NE019 -- 7865 04/13/92 14:48 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
Words:452
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