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SALVATORI OPHTHALMICS REPORTS 1992 SECOND QUARTER RESULTS OF OPERATIONS

SALVATORI OPHTHALMICS REPORTS 1992 SECOND QUARTER RESULTS OF OPERATIONS
 SARASOTA, Fla., Aug. 13 /PRNewswire/ -- Salvatori Opthalmics, Inc. (NASDAQ: EYES) today reported results of operations for the period ended June 30, 1992. For the second quarter of 1992, the company incurred a net loss of $292,156 on sales of $1,120,699. This compares to a net loss of $245,768 on sales of $1,545,869 for the same period in 1991. For the six months ended June 30, 1992 the company incurred a net loss of $508,189 on sales of $2,255,800. This compares to a net loss of $465,328 on sales of $2,799,321 for the six months ended June 30, 1991.
 The losses incurred during the 1992 periods were attributed by management to reduced sales volume. Sales declined 27.5 percent for the second quarter of 1992 compared to the same period in 1991. Management believes the decline in sales experienced during the 1992 period compared to the 1991 period results from the following: 1) the general economic recession in the United States, 2) the continuing growth of disposable lenses, the only industry growth segment, has had the continuing effect of slowing the sales of other market segments, including the market for the company's rigid gas permeable and specialty lenses, 3) the loss of the sales from the company's Wolcon subsidiary, which was closed earlier this year and merged with the Sarasota operations, 4) returns of RGP lenses which totaled $188,832 for the 1992 period compared to $53,307 for the 1991 period. This increase was due to the fact the second quarter 1991 returns were understated because the company did not process returns as quickly during the 1991 period as during the 1992 period.
 As previously reported, the company has signed a letter of intent to acquire two related RGP companies. One company manufactures the raw materials from which contact lenses are lathed. The second company manufactures a line of RGP bifocals which has been very successful. Management believes that the acquisition of these two companies will provide relief from the sales decline and improve the operating results of operations.
 Salvatori Ophthalmics, Inc. is a manufacturer of specialty contact lenses sold principally to eye care professionals. The company has manufacturing and administrative facilities located at Sarasota, Fla. and Lincoln, Neb. The company's common stock is traded on the over-the- counter market under the symbol EYES.
 SALVATORI OPHTHALMICS, INC.
 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 Sales $1,120,699 $1,545,869 $2,255,800 $2,799,321
 Gross Profit $ 432,286 $ 685,774 $1,003,303 $1,223,987
 Net Loss $ (292,156) $ (245,768) $ (508,189) $ (465,328)
 Net Loss Per
 Share $ (0.27) $ (0.25) $ (0.46) $ (0.45)
 Weighted
 Average
 Shares 1,095,972 1,075,972 1,095,072 1,075,072
 -0- 8/13/92
 /CONTACT: Joseph A. Arena or David J. Dougherty of Salvatori Ophthalmics, 813-753-0838/
 (EYES) CO: Salvatori Ophthalmics, Inc. ST: Florida IN: MTC SU: ERN


AW-JB -- FL009 -- 9824 08/13/92 16:34 EDT
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Date:Aug 13, 1992
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