Downturn For Israel's InterPharm

InterPharm Laboratories of Israel posted revenues of $13.2 million for the three months ended September 30, 1994, a fall of 4.3%, and gross profits down 24.4% at $3.9 million. Net income for the quarter was $800,000 or 13 cents a share, compared with $2.4 million or 38 cents a share for the comparable period the previous year.

Revenues, gross profit and net income were positively influenced at the third quarter of 1993 by the recognition of $2.0 million received from the company's affiliate Ares Trading, in consideration of the sale of a recombinant beta interferon working cell bank. Excluding this amount, revenues, gross profit and net income were up on a comparable basis.

For the nine months to end-September, revenues decreased 2.1% to $37.7 million, gross profit was down 8.7% to $10.8 million and net income was 54.2% lower at $2.2 million or 36 cents a share.