ADVANCED MAGNETICS' PROFITS FALLAdvanced Magnetics Inc. (NASDAQ:ADMG) of Cambridge, Mass.,reported a 69 percent drop in first-quarter profits. Thequarter's results were slightly ahead of plan, the company said,and "significant progress was made in the company's clinicaland pre-clinical development programs for diagnosticpharmaceuticals."
First quarter ended Dec. 31
(Figures in thousands except per-share data.)
1990 1989 Percent change
Revenues 2,136 2,164 -1Net income 55,000 178,000 -69Net income per share .02 .05 -60Outstanding shares 3,468 3,303 +5
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