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SECOND QUARTER REVENUES UP 12 PERCENT OVER 1991

 SECOND QUARTER REVENUES UP 12 PERCENT OVER 1991
 VINELAND, N.J., Aug. 7 /PRNewswire/ -- IGI, Inc. (AMEX: IG) reported


second quarter 1992 revenue of $6,295,929, up 12 percent from $5,604,143 in 1991. Revenue for the six months ended June 30, 1992 was $11,979,783, up 10 percent from $10,914,658 a year earlier.
 Net income for the second quarter was $45,280 or 1 cent a share versus $97,697, or 1 cent a share for the same period a year ago. Net income for the six months just ended was $86,952, compared with $122,552 for the first six months of 1991.
 A company spokesman said "The 12 percent revenue increase in 1992 is the result of increased sales across all lines of our core business led by significant increases in international sales."
 "We are expanding to nearly double our vaccine production capacity to meet increasing demand at home and abroad. Profitable core business operations continue to support the commercial development programs of our three majority-owned human pharmaceutical subsidiaries, Micro Vesicular Systems, Inc., Blood Cells, Inc. and Lipovax Inc., using Novasome(TM) lipid vesicle and Ultrasponge(TM) hydrogel technologies."
 Commercial production of cosmetic and personal care products of Novasome lipid vesicle preparations continues on schedule for three cosmetic and personal care product companies.
 Lipovax's preclinical animal studies of human Novasome based vaccines, including hepatitis B and others continue to show promising results.
 IGI is a diversified biotechnology company with a strong core business in pet pharmaceuticals and poultry vaccines. IGI manufactures and markets a broad range of animal health products used in pet care and the production of poultry. The company sells these products in the United States and 55 other countries principally under two trade names: Vineland Laboratories and EVSCO Pharmaceuticals.
 Novasome and Ultrasponge are trademarks of a subsidiary of IGI, Inc.
 IGI, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (Unaudited)
 Period ended Three months Six months
 June 30 1992 1991 1992 1991
 Net sales $6,295,929 $5,604,143 $11,979,783 $10,914,658
 Cost of sales 2,959,962 2,570,077 5,675,604 5,165,225
 Gross profit 3,335,967 3,034,066 6,304,179 5,749,433
 S,G&A expenses 2,664,687 2,379,299 5,062,768 4,583,567
 R&D expenses, net 540,094 349,551 936,927 663,938
 Operating profit 131,186 305,216 304,484 501,928
 Interest expense,
 net 85,906 150,555 207,532 303,888
 Other (income)
 expense, net -- (1,018) -- 488
 Income before provision
 for income taxes 45,280 155,679 96,952 197,552
 Provision for
 income taxes -- 58,000 10,000 75,000
 Net income 45,280 97,679 86,952 122,552
 Net income per
 common and common
 equivalent share: .01 .01 .01 .02
 Average number of common
 and equivalent
 shares 9,004,911 8,448,998 9,080,654 8,270,409
 -0- 8/7/92
 /CONTACT: Michael Dodge of IGI, 609-697-1441, or Thomas Redington of Redington, 203-222-7399, or 212-926-1733, for IGI/
 (IG) CO: IGI, Inc. ST: New Jersey IN: MTC SU: ERN


PS-OS -- NY043 -- 8151 08/07/92 16:35 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
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