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SALVATORI OPHTHALMICS REPORTS RESULTS

 SALVATORI OPHTHALMICS REPORTS RESULTS
 SARASOTA, Fla., March 30 /PRNewswire/ -- Salvatori Ophthalmics,


Inc. (NASDAQ: EYES) today reported results of operations for the full year, and the quarter, ended Dec. 31, 1991. For the full year the company experienced a net loss of $1,250,097 on sales of $5,206,568. This represented a decline from 1990 sales which were $5,828,603, and an increase from 1990s loss which was $194,135. Of the 1991 loss of $1,250,097, $488,401 represented a loss from operations, while the balance of $761,696 represented extraordinary losses including $103,000 in writeoffs of obsolete and outdated inventory, $215,000 accrual for lens returns, and $443,000 in other accruals.
 For the fourth quarter the company lost $782,809 on net sales of $972,640. This represented a 30 percent decline in sales compared to the same quarter of 1990, while the loss of $782,809 represented a 232 percent increase in loss compared to 1990's loss of $235,492. Of the fourth quarter 1991 loss, $197,613 represented an operating loss, while $575,196 represented extraordinary expenses.
 Management attributed the decline in sales to a number of factors, including (1) the general economic climate, with consumers delaying purchases of the company's contact lenses until they perceive an improvement in economic conditions, and (2) the increasing popularity of disposable contact lenses, which the company does not produce.
 The operating losses of the company increased because of additions to management made to meet the growing complexity and intensity of competition in the industry, and a number of new programs which were instituted in 1991, with attendant start-up costs, including the installation of a Management Information System, the creation of the SPMP (Salvatori Presbyopic Management Program) bifocal lens system, and the development and initial marketing of the Allvue soft bifocal.
 David Dougherty, chairman and president of the company, noted, "While we are disappointed by the extent of the losses in 1991, we believe that the expenditures incurred in that year will bear fruit in the current year, and we look forward to seeing the investments made in personnel, equipment, and new products bring significant returns as 1992 progresses."
 Salvatori Ophthalmics, Inc., headquartered in Sarasota, is a manufacturer of specialty contact lenses sold principally to eye care professionals. The company has manufacturing facilities located at Sarasota, Fla. and Lincoln, Neb. The company manufactures and markets RGP and soft contact lenses for daily and extended wear. The company's common stock is traded on the NASDAQ system.
 SALVATORI OPHTHALMICS, INC.
 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
 Three Months Ended Year Ended
 Dec. 31, Dec. 31,
 Unaudited
 1991 1990 1991 1990
 Sales $972 $1,398 $5,207 $5,829
 Gross Profit 133 474 2,042 2,448
 Operating Income
 (Loss) (773) (233) (1,247) (179)
 Income (loss)
 before income
 taxes and
 extraordinary item (773) (235) (1,247) (189)
 Income Taxes -- -- 3 5
 Income (loss) before
 extraordinary item (773) (235) (1,250) (194)
 Extraordinary item -- -- -- --
 Net income (loss) $(773) $(235) $(1,250) $(194)
 Net income (loss)
 per common share:
 Before extraordinary
 item $(0.72) $(0.22) $(1.16) $(0.18)
 $(0.72) $(0.22) $(1.16) $(0.18)
 -0- 3/30/92
 /CONTACT: Dave Dougherty or Joe Arena of Salvatori Ophthalmics, 813-753-0383/
 (EYES) CO: Salvatori Ophthalmics ST: Florida IN: MTC SU: ERN


AW-SS -- FL015 -- 3044 03/30/92 16:25 EST
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Date:Mar 30, 1992
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