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OPTA FOOD INGREDIENTS REPORTS SECOND-QUARTER RESULTS; TROMETER NAMED VICE PRESIDENT - FINANCE

 OPTA FOOD INGREDIENTS REPORTS SECOND-QUARTER RESULTS;
 TROMETER NAMED VICE PRESIDENT - FINANCE
 CAMBRIDGE, Mass., Aug. 7 /PRNewswire/ -- Opta Food Ingredients, Inc. (NASDAQ: OPTS), a developmental-stage company engaged in the research and development of proprietary new food ingredients, had second-quarter revenue of $244,000, expenses of $1,018,000 and a resulting net loss of $586,000, or $.13 per share on 4,522,000 shares outstanding, for the period ended June 30, 1992, it was reported today by Lewis C. Paine, III, president and chief operating officer.
 This compares with no revenue and a net loss of $732,000, or $.29 per share on 2,502,000 weighted average shares outstanding, in the second quarter of 1991.
 SIX-MONTH RESULTS
 For the first-half of 1992, revenue was $536,000 and expenses were $1,866,000, with a resulting net loss of $1,135,000, or $.29 per share on 3,935,000 weighted average shares outstanding. For the first six months of 1991 there was no revenue, expenses were $1,460,000, and the net loss was $1,464,000, or $.61 per share on 2,414,000 shares outstanding.
 The 1992 increase in weighted average number of shares outstanding primarily reflects Opta's March 1992 public offering of 1.7 million common shares.
 The increase in revenue is primarily due to contract research and development programs in partnership with Pfizer, Inc. and sales of Better Basics(R) Oat Fiber. The fiber business was acquired on June 17, 1992 for a combination of cash and Opta common shares. The increase in expenses is largely due to greater R&D costs, particularly for the development of OptaGrade and Crystalean.
 "Results for Opta remain on track," Paine said. "The development of our starch-based fat replacer, OptaGrade, is proceeding on plan and management remains clearly focused on having the product reach commercial status in fiscal 1993."
 "The Oat fiber business we acquired has been smoothly integrated into Opta," he added. "Our scientific staff has already begun to research new formulations and broaden applications in prepared foods. In addition, we recently appointed a new facilities manager, responsible for plant operation and product distribution."
 "Importantly," Paine said, "this acquisition, with its existing base of customers and an established marketing and sales team, has provided the foundation for Opta's marketing organization needed as the research phase of our fat-replacement and other ingredient products move further toward the commercialization phase."
 New Vice President of Finance Named
 Thomas J. Trometer has been named vice president - finance, a new position, Paine announced. Trometer joins the company from Xenergy, Inc. where he was controller. Prior to that, he was associated with Price Waterhouse.
 "We are pleased to have Tom join the Opta team. His 14 years of financial experience will greatly enhance our management depth," Paine said.
 Opta develops and markets proprietary new food ingredients which enable consumer products companies to improve the nutritional content, healthfulness and/or taste of foods. The company applies advanced enzymology and protein and carbohydrate chemistry to develop ingredients that can replace nutritionally undesirable food elements, such as fats and oils, while possessing important characteristics, such as flavor, texture, mouthfeel and shelf life. Opta's product development strategy is to modify inexpensive raw materials to produce natural food ingredients which can be considered generally recognized as safe under current Food and Drug Administration regulations.
 OPTA FOOD INGREDIENTS, INC. AND SUBSIDIARIES
 Consolidated Statement of Income
 (In thousands, except per share amounts, unaudited)
 Period ended Three months Six months
 June 30 1992(A) 1991 1992(A) 1991
 Net sales $ 244 $ -- $ 536 $ --
 Operating expenses 1,018 728 1,866 1,460
 Income from operations (774) (728) (1,330) (1,460)
 Other income/(expense), net 188 (4) 215 (4)
 Income before income taxes (586) (732) (1,115) (1,464)
 Provision for income taxes -- -- 20 --
 Net income (586) (732) (1,135) (1,464)
 Earnings per common share (.13) (.29) (.28) (.61)
 Weighted average number
 of shares outstanding(A) 4,522 2,502 3,935 2,414
 (A) During the first quarter of fiscal 1992, Opta Food Ingredients, Inc. completed a public offering of 1,700,000 additional common shares.
 -0- 8/7/92
 /CONTACT: Lewis C. Paine III, president of Opta Food Ingredients, 617-252-0005; or Bill Pfund of P.L. Thomas Group, 312-906-8060, for Opta Food Ingredients/
 (OPTS) CO: Opta Food Ingredients, Inc. ST: Massachusetts IN: FOD SU: ERN


SH-OS -- NY005 -- 7914 08/07/92 09:43 EDT
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Date:Aug 7, 1992
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