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NUTRAMAX REPORTS RECORD SECOND QUARTER SALES AND EARNINGS

 GLOUCESTER, Mass., April 15 /PRNewswire/ -- NutraMax Products, Inc. (NASDAQ: NMPC), a leading manufacturer and marketer of private label health and personal care products, reported record sales and earnings for the second quarter ended March 31, 1993.
 Sales for the quarter were $8,258,000, an increase of 33 percent over second quarter 1992 sales of $6,196,000. Gross profit increased to a record of $3,519,000, an increase of 25 percent over the 1992 second quarter gross profit of $2,822,000. Net income for the quarter increased 14 percent to a record $1,026,000 or 13 cents per share based on 8,163,000 weighted average shares outstanding in fiscal 1993 from $904,000 or 11 cents per share based on 8,087,000 shares in the comparable fiscal 1992 quarter.
 For the six months ended March 31, 1993, sales were $14,872,000 compared to $11,586,000 during the same fiscal 1992 period, an increase of 28 percent. Gross profit increased from $5,133,000 in 1992 to $6,224,000 in 1993, an increase of 21 percent. Net income increased 18 percent to 41,807,000 or 22 cents per share, from $1,535,000 or 19 cents per share in 1992.
 Donald E. Lepone, president and chief executive officer, reported that these record sales and profits are consistent with the company's 1993 business plan and reflect the on-going strength of its product lines, all of which showed gains this quarter.
 Sales of Pediatric Electrolyte products continued to accelerate. Year-to-date sales exceed $2 million and represent 17 percent of total sales for the quarter. Sales of disposable douche, the company's number one selling product line, increased almost 10 percent vs. second quarter last year despite strong competitive pricing pressure. Disposable douche now represents 61 percent of total NutraMax sales vs. 72 percent last year, reflecting the strong sales increases of the company's other products.
 Sales of the company's ready-to-use enema were up 17 percent in the second quarter and 26 percent for the year, benefitting from its new nationally brand equivalent delivery system and penetration into the hospital and nursing home markets. Disposable baby bottle liner sales also increased 15 percent in the second quarter and now represent almost 14 percent of NutraMax sales.
 Lepone said, "This performance was particularly noteworthy as it coincided with significant improvements in manufacturing, upgrading of the company's quality assurance program, and launch of the new 8 oz. Pediatric Electrolyte Oral Maintenance Solution." Lepone further stated, "The increased focus in private label products by retailers, together with high rates of consumer purchases, are contributing to the increased growth of the company's products."
 NutraMax Products, Inc.
 Operating Results
 Three Months Ended Six Months Ended
 3/31/93 3/31/92 3/31/93 3/31/92
 Net sales $8,258,000 $6,196,000 $14,872,000 $11,586,000
 Gross profit $3,519,000 $2,822,000 $6,224,000 $5,133,000
 Net income $1,026,000 $904,000 $1,807,000 $1,535,000
 Earnings per
 share 13 cents 11 cents 22 cents 19 cents
 Weighted avg.
 shares
 outstanding 8,163,000 8,087,000 8,132,000 8,087,000
 -0- 4/15/93
 /CONTACT: Michael F. Sandler, chief financial officer of NutraMax, 609-665-9300; or Lynn Morgen or Amy Weisman of Morgen-Walke Associates, 212-986-5900/
 (MNPC)


CO: NutraMax Products, Inc. ST: Massachusetts IN: SU: ERN

DD -- NE001 -- 5970 04/15/93 06:00 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
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