BALLARD MEDICAL'S PROFITS A BIT LOWER THAN EXPECTED

Ballard Medical said Friday its sales and profits for the first fiscal quarter ending Dec. 31 will be slightly lower than projected.

But sales and profits will be higher than the same period last year, a spokesman said.Ballard cited the "industrywide health-care reform environment, delays in receiving FDA approvals for new products and delayed seasonal sales of products used to treat winter respiratory illnesses."

"The company anticipates that the remaining quarters of fiscal year 1994 will continue a pattern of growth and profitability," the spokesman said.