AMBI Posts 2Q Gains

AMBI Posts 2Q Gains

PURCHASE,N.Y.---AMBI Inc. (NASDAQ:AMBI) posted sales and income gains for its secondquarter ended Dec. 31, 1999, compared to the same quarter the previous year.Revenues hit $9.7 million, up from $6 million, while gross margin slipped fivepoints as a percentage of sales. Expenses for the quarter climbed to $4.4million from $3.2 million spent the year prior. Earnings still managed to climb,reaching $2.7 million or $.09 per share, a small boost from $2.4 million or $.08per share earned for the comparable period the previous year.

"Strategically and operationally, AMBI is in a better position now thanit has ever been," said Frederic Price, president and chief executiveofficer. "This is our eighth consecutive quarter of net income growth overthe corresponding periods in the prior fiscal years." He noted that AMBI'sproduct development programs are on track, and it is building the organizationalstructure needed to support new products and additional distribution channelsmore efficiently. It has also strengthened its focus on nutritional products."We divested the Wipe Out dairy wipes business, which did not fit withinour strategic nutrition focus," he said.

Price detailed additional third quarter accomplishments, such as launching asecond product in conjunction with the QVC Network and receiving a key patent onthe nisin anti-infective technology, upon which the company was founded andwhich it is developing as a dietary supplement for maintenance of colon health.