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INTERNATIONAL RESEARCH AND DEVELOPMENT CORP. REPORTS EARNINGS

 INTERNATIONAL RESEARCH AND DEVELOPMENT CORP. REPORTS EARNINGS
 MATTAWAN, Mich., May 12 /PRNewswire/ -- International Research and Development Corp. (NASDAQ-NMS: IRDV) (IRDC) and subsidiaries announced consolidated operating revenues and operating results for the first quarter of 1992.
 Consolidated operating revenues for the three months ended March 31, 1992, were $8,198,104 compared with 1991 three months' operating revenues of $8,652,157. The corporation realized a loss before income taxes for the 1992 quarter of $209,587 compared with before-tax earnings of $507,444 for the same period for 1991. The first-quarter net loss was $141,287 (or $.03 per share) compared with net earnings of $310,444 (or $.06 per share) for the first quarter of 1991.
 The research segment of the company, through its marketing programs, has continued an aggressive pace for new study authorizations. For the four months ended April 30, 1992, new study authorizations exceeded those obtained during this same time period in 1991.
 Product sales in specialty skin care, while reduced for the first quarter, reflect product repositioning in the marketplace. Gains in sales activity and operating earnings over 1991 levels should result by the second half of this year.
 IRDC is engaged in the safety evaluation of pharmaceutical and veterinary drugs, agricultural products, and chemicals. Studies are performed on behalf of various manufacturers of such products, both foreign and domestic and on behalf of government agencies. Clinical safety evaluation studies are conducted on behalf of clients in the pharmaceutical, chemical and cosmetic-related industries through its subsidiary, IRAD Corp.
 IRDC also is a manufacturer and distributor of cosmetics and skin care products through its subsidiary, Carme' Inc., as well as certain medical and health care products through another of its subsidiaries, Medical Surgical Specialties, Ltd.
 The common stock of International Research and Development Corp. is traded in the over-the-counter national market. The NASDAQ symbol for the common stock is IRDV.
 -0- 5/12/92
 /CONTACT: Dr. Francis X. Wazeter, IRDC president, 616-668-3336/
 (IRDV) CO: International Research and Development Corp. ST: Michigan IN: MTC HOU SU: ERN


SM -- DE015 -- 9077 05/12/92 11:23 EDT
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Publication:PR Newswire
Date:May 12, 1992
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