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OWENS & MINOR, INC. ANNOUNCES IMPROVED 1992 SECOND QUARTER AND SIX-MONTH EARNINGS FROM CONTINUING OPERATIONS

 OWENS & MINOR, INC. ANNOUNCES IMPROVED 1992 SECOND QUARTER
 AND SIX-MONTH EARNINGS FROM CONTINUING OPERATIONS
 RICHMOND, Va., July 16 /PRNewswire/ -- Owens & Minor, Inc. (NYSE: OMI) announced today its second quarter results. For the second quarter ended June 30, 1992, sales from continuing operations were $289.7 million, up 17.1 percent from $247.4 million during the second quarter of 1991. Net income from continuing operations for the three- month period increased to $3.6 million in 1992 from $2.2 million in 1991, an increase of 62.2 percent. Net income per share from continuing operations for the second quarter was $.27 as compared to $.17 for the same period in 1991, an increase of 58.8 percent.
 Separately, there was a loss from discontinued operations, net of taxes, for the quarter of $3.1 million, or $.23 per share, which included a $2.7 million loss, or $.20 per share, from the sale of Vangard Labs, Inc. The remaining $.4 million, or $.03 per share, resulted from post closing adjustments on the sale of the Wholesale Drug Division.
 Sales for the six months ended June 30, 1992 from continuing operations were $572.2 million, an increase of 17.5 percent from $486.8 million during the same period in 1991. Earnings for the six-month period from continuing operations increased to $6.7 million in 1992 from $4.0 million in 1991, an increase of 66.4 percent. Net income per share for the six-month period from continuing operations was $.51 as compared to $.31 for the same period in 1991, an increase of 64.5 percent.
 According to G. Gilmer Minor, III, President and CEO:
 "We continue to show steady improvement in our results
 for the second quarter and for the six months compared to
 last year. Our sales and profit performance are ahead of
 budget after six months, and our focus on improved asset
 management has given us better than expected performance in
 this important area. Our sales growth of 17.5 percent for the
 six-month period includes results from our recent acquisition
 in Nebraska and Iowa and our branch opening in Columbus.
 'Same-store' sales compared to the first six months last year
 were up 12.8 percent. On June 1, 1992, we completed the sale
 of our Vangard Labs pharmaceutical packaging subsidiary. We
 also successfully opened a new distribution center in Columbus,
 Ohio, as our penetration of mid-America continues. We continue
 to invest in our quality process, the training and development
 of our teammates, and our computer systems. These are
 solid investments for the future. We are optimistic that we
 will continue our strong performance throughout the rest of the
 year."
 Owens & Minor, inc., headquartered in Richmond, Virginia, is a wholesale distributor of medical and surgical supplies, pharmaceuticals and other related products to hospitals and alternate medical care facilities. The company has 28 distribution centers serving 37 states and the District of Columbia.
 OPERATING RESULTS
 (Unaudited)
 (In thousands, except per share data)
 Three Months Ended Percentage
 June 30, Change
 1992 1991
 Net sales $289,705 $247,441 17.1
 Net income from
 continuing operations $ 3,613 $ 2,227 62.2
 Net income (loss) from
 discontinued operations ($ 3,126) $ 510 N/A
 Net income $ 487 $ 2,737 N/A
 Net income (loss) per
 common share:
 Continuing operations $ .27 $ .17 58.8
 Discontinued operations
 (A) ($ .23) $ .04 N/A
 Net income per common
 share $ .04 $ .21 N/A
 Weighted average common
 shares and common share
 equivalents 13,814 13,105 .6
 Six Months Ended Percentage
 June 30, Change
 1992 1991
 Net sales $572,186 $ 486,819 17.5
 Net income from continuing
 operations $ 6,698 $ 4,025 66.4
 Net income from discontinued
 operations $ 6,930 $ 1,045 N/A
 Net income $ 13,628 $ 5,070 N/A
 Net income per common share:
 Continuing operations $ .51 $ .31 64.5
 Discontinued operations
 (A) $ .52 $ .08 N/A
 Net income per common share $ 1.03 $ .39 N/A
 Weighted average common
 shares and common share
 equivalents 13,186 13,027 1.2
 (A) Includes net gain (loss) on disposal of discontinued operations.
 -0- 7/16/92
 /CONTACT: Glenn J. Dozier, Senior Vice President-Operations and Systems and Chief Financial Officer, Owens & Minor, Inc., 804-965-2945/
 (OMI) CO: Owens & Minor, Inc. ST: Virginia IN: MTC SU: ERN


CM-JZ -- CH003 -- 9904 07/16/92 09:39 EDT
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Date:Jul 16, 1992
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