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OWENS & MINOR, INC., ANNOUNCES IMPROVED 1993 SECOND QUARTER AND SIX-MONTH EARNINGS

 RICHMOND, Va., July 19 /PRNewswire/ -- Owens & Minor, Inc. (NYSE: OMI), announced today its second quarter results. For the second quarter ended June 30, 1993, sales from continuing operations were $341.2 million, up 17.8 percent from $289.7 million during the second quarter of 1992. Net income from continuing operations for the three- month period increased to $4.3 million in 1993 from $3.6 million in 1992, an increase of 18.0 percent. Net income per share from continuing operations for the second quarter was 21 cents as compared to 18 cents for the same period in 1992, an increase of 16.7 percent.
 Sales for the six months ended June 30, 1993, from continuing operations were $659.0 million, an increase of 15.2 percent from $572.2 million during the same period in 1992. Earnings for the six-month period from continuing operations increased to $8.1 million in 1993 from $6.7 million in 1992, an increase of 20.8 percent. Net income per share for the six-month period from continuing operations was 40 cents as compared to 34 cents for the same period in 1992, an increase of 17.6 percent.
 During the second quarter, Lyons Physician Supply Company in Youngstown, Ohio, was merged into the Company. This stock-for-stock transaction has been accounted for as a pooling of interests. Also during the second quarter, the company acquired A. Kuhlman & Co., located in Detroit, in a cash-for-stock transaction, accounted for under the purchase method of accounting.
 According to G. Gilmer Minor III, president and CEO:
 "We had another excellent quarter and are on target to accomplish our objectives in 1993. Sales growth in the second quarter accelerated nicely for us. Penetration into new and existing accounts helped. Gross margins continue to hold, and selling, general and administrative expenses (SG&A) as a percent to sales did also. During the quarter we made two acquisitions, opened two new distribution centers and announced our intentions to enter the New England market later this summer. We were also awarded two new contracts, one by the Premier Hospitals Alliance, Inc., and the second by the Department of Defense, National Capital Region. Also, we renewed our partnership agreement with the UCLA Medical Center. In the April 27 issue of Financial World, we were ranked as the 197th best growth company in America. We are proud of this recognition, and very excited about dealing with the challenges that lie ahead."
 Owens & Minor, Inc., is a wholesale distributor of medical and surgical supplies, pharmaceuticals and other related products to hospitals and alternate medical care facilities. The company has 33 distribution centers serving 40 states and the District of Columbia. It plans to open its 34th distribution center in Boston in the third quarter of this year.
 OWENS & MINOR, INC.
 OPERATING RESULTS
 (Unaudited)
 (In thousands, except per share data)
 Three Months Ended Percentage
 June 30, Change
 1993(A) 1992
 Net Sales $341,221 $289,705 17.8 pct
 Net income from
 continuing operations $4,265 $3,613 18.0
 Net loss from
 discontinued operations -- ($3,126) N/A
 Net income $4,265 $ 487 N/A
 Net income (loss) per common share:
 Continuing operations $0.21 $0.18 16.7 pct
 Discontinued operations -- ($0.16) N/A
 Net income per common share $0.21 $0.02 N/A
 Weighted average common shares
 and common share equivalents 20,455 19,776 3.4 pct
 Six Months Ended Percentage
 June 30, Change
 1993(A) 1992
 Net sales $659,033 $572,186 15.2 pct
 Net income from continuing
 operations $8,091 $6,698 20.8 pct
 Net income from
 discontinued operations -- $6,930 N/A
 Cumulative effect of
 change in accounting
 principles $706 ($730) N/A
 Net income $8,797 $12,898 N/A
 Net income (loss) per
 common share:
 Continuing operations $0.40 $0.34 17.6 pct
 Discontinued operations -- $0.35 N/A
 Cumulative effect of
 change in accounting
 principles $0.03 ($0.04) N/A
 Net income per common
 share $0.43 $0.65 N/A
 Weighted average common
 shares and common share
 equivalents 20,389 19,779 3.1 pct
 (A) Includes activity of the Youngstown, Ohio, division, recorded as of Jan. 1, 1993.
 All applicable per share information has been restated for the 3- for-2 stock split distributed on March 22, 1993, to shareholders of record as of March 8, 1993.
 -0- 7/19/93
 /CONTACT: Glenn J. Dozier, senior vice president, finance and information systems, and chief financial officer, Owens & Minor, 804-965-2945/
 (OMI)


CO: Owens & Minor, Inc. ST: Virginia IN: MTC SU: ERN

TW -- DC003 -- 2873 07/19/93 08:27 EDT
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Date:Jul 19, 1993
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