International Murex Technologies Inc. on Thursday reported itsfirst profitable quarter, attributing the performance to itsacquisition of Murex Diagnostics Ltd. from Wellcome inFebruary.
In the first quarter ended March 31, net income was $674,000,or 4 cents a share, compared with a $1.2 million loss, or 13cents, in the 1991 quarter.
Operating income before taxes and operating loss carryforwards totaled $1.1 million. Product sales comprised nearlyall of the $17.2 million in revenues, vs. $483,000 in revenues inthe year-ago period.
Robert Cusick, president and CEO, on Thursday also issued astatement that a financial reporting service had incorrectlyreported that Edward DeBartolo Sr. and Edward DeBartolo Jr.intended to liquidate their entire 7.2 million share holding inthe company. In a 13D filing, Cusick said, the DeBartolosindicated their intention to register warrants covering about1.1 million shares that expire on Nov. 31.
The Toronto company's shares (AMEX:MXX) gained 38 cents to$15.
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