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OPTA FOOD INGREDIENTS REPORTS SECOND-QUARTER RESULTS

 BEDFORD, Mass., July 21 /PRNewswire/ -- Opta Food Ingredients, Inc. (NASDAQ-NMS: OPTS), a company engaged in the marketing and development of proprietary food ingredients, had second-quarter revenue of $808,000 for the three months ended June 30, 1992, a substantial improvement over the $244,000 reported in the comparable period of 1992, it was announced by Lewis C. Paine III, chairman and chief executive officer.
 "The gain in second-quarter revenue was largely due to sales of Opta Oat Fiber(TM), a product line acquired in June 1992. Since its addition to Opta, the oat-fiber business has generated revenue increases which reflect enthusiastic customer response to product improvements made by Opta's scientific team," Paine said. "Additionally, with more customers testing Opta Oat Fiber(TM) in a variety of applications, we believe that the positive effects of these tests will continue to be realized over the next few quarters. Second-quarter 1992 revenue stemmed primarily from contract research in partnership with Pfizer."
 There was a net loss of $1,434,000, or $0.30 per share, for the quarter ended June 30, 1993, as compared with a second-quarter 1992 net loss of $586,000, or $0.13 per share.
 "The net loss reflects the expenses associated with the introduction of OptaGrade(TM) into the commercial marketplace and our continuing investment in R&D," Paine said. "OptaGrade(TM) has been formulated into low-fat prototypes that are being presented to consumer food company prospects. These customers are evaluating them internally, as well as conducting consumer taste tests over the next few months. The company is also in the process of building OptaGrade(TM) inventory as part of the product's launch plan."
 FIRST-HALF RESULTS
 For the first six months of 1993, revenue was $1,589,000, with a net loss of $2,743,000, or $0.57 per share. This compares with revenue of $536,000 and a net loss of $1,135,000, or $0.28 per share, in the first half of 1992.
 Opta develops and markets proprietary new food ingredients that enable consumer-product 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 replace nutritionally undesirable food elements, such as fats and oils, while preserving 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.
 STATEMENT OF OPERATIONS
 (Unaudited)
 For the 3 months For the 6 months
 ended June 30 ended June 30
 1993 1992 1993 1992
 Revenue:
 Product sales $745,000 $81,000 $1,464,000 $110,000
 Contract research
 and development
 under collaborative
 relationship with
 related party:
 Pfizer 63,000 163,000 125,000 426,000
 808,000 244,000 1,589,000 536,000
 Cost and expenses:
 Cost of goods
 sold 649,000 68,000 1,328,000 77,000
 Selling, general
 & administrative 730,000 269,000 1,252,000 508,000
 Research and
 development 921,000 681,000 1,882,000 1,281,000
 2,300,000 1,018,000 4,462,000 1,866,000
 Loss from
 operations (1,492,000) (774,000) (2,873,000) (1,330,000)
 Interest income 75,000 197,000 174,000 252,000
 Interest expense (8,000) (3,000) (11,000) (30,000)
 Other income
 (expense) (9,000) (6,000) (33,000) (27,000)
 58,000 188,000 130,000 195,000
 Net income
 (loss) $(1,434,000) $(586,000) $(2,743,000)$(1,135,000)
 Net loss per share $(0.30) $(0.13) $(0.57) $(0.28)
 Shares used in
 computing net loss
 per share 4,801,000 4,522,000 4,787,000 3,935,000
 -0- 7/21/93
 /CONTACT: Lewis Paine, chairman and CEO of Opta Food Ingredients, Inc., 617-276-5100; or Bill Pfund of P.L. Thomas Group, 312-906-8060, for Opta Food Ingredients, Inc./
 (OPTS)


CO: Opta Food Ingredients, Inc. ST: Massachusetts IN: FOD SU: ERN

DD -- DE002 -- 3808 07/21/93 09:32 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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