SPI Pharmaceuticals Inc.: The Costa Mesa prescription...

SPI Pharmaceuticals Inc.: The Costa Mesa prescription and non-prescription drug company reported that second-quarter profit declined to $1.1 million, or 6 cents a share, from $8.1 million, or 43 cents a share, for the same period last year. Sales were down 56% to $66.4 million from $150.9 million. For the first half, profit dropped to $6.8 million, or 37 cents a share, from $15.8 million, or 85 cents a share, for the corresponding 1992 period. Sales were off 32% to $186.1 million from $272 million. The company said its joint venture in Yugoslavia has been affected by inflation, currency devaluations and the effects of United Nations economic sanctions. The Yugoslav venture recorded a loss of $2.8 million for the second quarter.