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GLENEX INDUSTRIES REPORTS SIX-MONTH RESULTS

 GLENEX INDUSTRIES REPORTS SIX-MONTH RESULTS
 TORONTO, Nov. 28 /PRNewswire/ -- Glenex Industries Inc.


(NASDAQ/NMS: GLXIF) today released results for the six months ended Sept. 30, 1991. The company reported a net loss of $2.03 million ($.23 per share) compared to a net loss of $2.46 million ($.28 per share) for the same period in 1990. Results for 1990 included a loss of $610,000 ($.07 per share) relating to discontinued operations. There were no discontinued operations in 1991. The loss in 1991 includes $568,000 (1990-$Nil) expended in research and development of the company's computerized cel painting process for the animation industry. No revenues were attributable to this activity. Operating revenues increased to $3.666 million from $2.692 million in 1990.
 -0- 11/28/91
 /CONTACT: Elaine N. Carlebach, vice president-investor relations of Glenex Industries, 416-962-9292, or fax: 416-962-8730/
 (GLXIF) CO: Glenex Industries Inc. ST: Ontario IN: SU: ERN


JT -- NY010 -- 7981 11/28/91 15:59 EST
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Publication:PR Newswire
Date:Nov 28, 1991
Words:162
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