IMMUCELL CUTS NET LOSSImmuCell Corp. (NASDAQ:ICCC) of Portland, Maine. Michael F.Brigham, director of finance, said the "significant net lossreduction was achieved during a year in which research anddevelopment expenditures were increased by almost $340,000,primarily to support the company's commitment tocommercializing its first oral immunopreventive product, FirstDefense." First Defense is intended to reduce the incidence ofenteritis in dairy and beef calves, he said.

Fourth quarter ended Dec. 31

(Figures in thousands except per-share data.)

1990 1989 Percent change

Revenues $1,033 824 +25Net income (loss) 150 (219) +168Net income per share (loss) .08 (.11) +172

Year ended Dec. 31

(Figures in thousands except per-share data.)

1990 1989 Percent change

Revenues $3,016 2,776 +9Net income (loss) (558) (971) +43Net income per share (loss) (.28) (.49) +43xOutstanding shares 1,992 1,992 0

x -- Adjusted for a one-for-one hundred reverse split effectivein July 1990.

CELTRIX BLAMES TERMINATED CONTRACTS FOR LOSS

Celtrix Laboratories Inc. (NASDAQ:CTRX) of Palo Alto, Calif., saidthe termination of agreements for contract research anddevelopment activities during fiscal 1990 accounted for most ofthe differences in revenues between the fiscal 1991 and the1990 second quarters. General and administrative costsincreased in 1991 so Celtrix could operate as an independentpublic company after its spin-off from Collagen, effective Feb.15, 1991.

Second quarter (fiscal 1991) ended Dec. 30

(Figures in thousands except per-share data.)

1991 1990 Percent change

Revenues $75 792 -91Net income (loss) (1,373) (264) -420

ENZO'S REVENUES FALL, LOSS DEEPENS

Enzo Biochem Inc. (AMEX:ENZ) of New York said increases inrevenues for diagnostic services did not fully counterbalancereductions in investment income, product sales and researchcontract revenues.

Second quarter ended Jan. 31

(Figures in thousands except per-share data.)

1991 1990 Percent change

Revenues $4,712 5,260 -10Net income (loss) (1,902) (1,539) -24Net income per share (loss) (.17) (.14) -21Outstanding shares 11,359 11,359 0

TSI INCREASES 2ND-QUARTER REVENUES, CUTS LOSS

TSI Corp. (NASDAQ:TSIN) of Worcester, Mass., Chief ExecutiveOfficer James P. Sherblom said: "The rapid increase in revenuesreflects the growth of the TSI Mason Research Institute, as wellas our recent acquisitions. We were able to narrow our losses inboth periods while devoting additional resources to operatingactivities and to increased research and development efforts.These growth activities are being supported in part by our pre-clinical testing services business, which generated substantialpositive cash flows."During the quarter, TSI acquired Center for Diagnostic ProductsInc., a privately held manufacturer of bioreagents used inmanufacturing human diagnostic products. The company alsopurchased a 57,000-square-foot pre-clinical testing facility inRedfield, Ark.

Second quarter ended Dec. 30

(Figures in thousands except per-share data.)

1990 1989 Percent change

Revenues $3,855 1,552 +148Loss from operations (359) (671) +46Net income (loss) (532) (722) +26Net income per share (loss) (.06) (.12) +50Outstanding shares 9,017 6,149 +47

MERIDIAN INCREASES REVENUES

Meridian Diagnostics Inc. (NASDAQ:KITS) of Cincinnati saidoperating expenses during the first quarter were unusuallyhigh due to costs associated with the development of thecompany's Italian subsidiary, Meridian Diagnostics Europe s.r.l.,and higher advertising and promotional expenses supportingClostridium difficile latex test and the Premier Clostridiumdifficile enzyme immunoassay product.

First quarter ended Dec. 31

(Figures in thousands except per-share data.)

1990 1989 Percent change

Revenues $2,254 1,690 +33Operating expenses 1,239 882 +40Operating income 161 106 +52Net income (loss) 136 128 +6Net income per share (loss) (.03) (.03) 0Outstanding shares 4,800 4,800 0

(c) 1997 American Health Consultants. All rights reserved.