Biospherics' earnings rise '500 percent' Company's chief gives '92 estimate

February 18, 1993|By Dow Jones News Service

BELTSVILLE -- Biospherics Inc. chairman and president Gilbert Levin estimates that the company's earnings rose "500 percent-plus" last year from the $129,630, or 3 cents a share, reported for 1991.

Mr. Levin also estimated that revenue for 1992 rose about 10 percent from the $15.1 million reported for 1991.

The company, which derives about 70 percent to 75 percent of its revenue from providing information services for government agencies and pharmaceuticals firms, expects to report its 1992 results later this month.

Besides its information services division, Biospherics operates an environmental services and laboratory division. Since the late 1980s, it has also been attempting to develop a patented non-fattening sugar it calls d-tagatose.

Mr. Levin attributed the company's improved performance for 1992 to a combination of cost-control efforts, improved productivity and a sharper focus by the environmental services and laboratory division on pursuing larger, more profitable projects.

The information services division, headed by his wife, M. Karen Levin, increased its revenues by slightly more than 20 percent in 1992. Ms. Levin said the division more than doubled its revenue from contracts with pharmaceutical firms in 1992.

Under a typical contract, the division operates a telephone hot line for a drug manufacturer that wants to make information about its products available to consumers.

"We think we've found a niche there, and we expect that to keep growing," she said.

The information services division also is expanding its operations in two other areas.

While it has long handled incoming telephone inquiries for its government and pharmaceuticals clients, such as the National Cancer Institute, the company has found it can use the same resources to conduct surveys for its clients.

Currently, the information services division is conducting a survey for an association of dental anesthesiologists to learn why the public fears visiting dentists.

Ms. Levin said the division intends to solicit additional survey work in 1993.

Meanwhile, the division is teaming up with the company's environmental services and laboratory division to offer new educational programs.

For example, the two divisions last week held their first seminar on for professionals interested in the latest research on electromagnetic fields, particularly as it relates to high-voltage power lines. It plans to offer additional seminars on the topic.

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