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PATLEX CORP. ANNOUNCES 12 MONTHS AND FOURTH QUARTER EARNINGS FOR QUARTER AND YEAR ENDED DEC. 31, 1991

 PATLEX CORP. ANNOUNCES 12 MONTHS AND FOURTH QUARTER EARNINGS
 FOR QUARTER AND YEAR ENDED DEC. 31, 1991
 LAS CRUCES, N.M., March 3 /PRNewswire/ -- Patlex Corp. (NASDAQ: PTLX) announced today operating results for the quarter and year ended Dec. 31, 1991 and comparisons of results for the comparable periods ended Dec. 31, 1990.
 For the three months ended Dec. 31, 1991, current laser patent royalties were $1,687,000 as compared to $2,069,000 in the fourth quarter of 1990, while royalties received for past infringement settlements increased to $104,000 in 1991 from $6,000 in 1990. Total net laser revenues for the quarter were $1,791,000 as compared to $2,075,000 for the same period in 1990.
 Net earnings for the current quarter were $652,000 or $.13 per share as compared to $743,000 or $.13 per share in 1990 on 5,137,000 and 5,751,000 weighted average number of common shares in 1991 and 1990, respectively.
 For the 12 months ended Dec. 31, 1991, current laser patent royalties decreased to $6,782,000 from $7,023,000 for the 12 months ended Dec. 31, 1990, while royalties received for past infringement settlements increased to $214,000 in 1991 from $182,000 in 1990. Total net laser revenues for the 12 months were $6,996,000 as compared to $7,205,000 for the same period in 1990.
 Net earnings for the current 12 months were $2,613,000 or $.49 per share as compared to $2,612,000 or $.42 per share in 1990 on 5,332,000 and 6,230,000 weighted average number of common shares in 1991 and 1990, respectively.
 PATLEX CORP. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (In thousands, except per share)
 Year Ended Quarter Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Net laser patents
 royalties:
 Current $6,782 $7,023 $1,687 $2,069
 Past infringement
 settlements 214 182 104 6
 Total laser patents
 revenues 6,996 7,205 1,791 2,075
 Costs and expenses:
 General and
 administrative 1,477 1,716 335 326
 Amortization of patents 1,020 1,020 255 255
 Total costs and expenses 2,497 2,736 590 581
 Operating income 4,499 4,469 1,201 1,494
 Other income
 (deductions):
 Mark down to market of
 long-term investment --- (350) --- (350)
 Interest income 444 353 171 89
 Interest expense (357) (42) (179) (12)
 Other, net 64 112 9 31
 Other income (deductions),
 net 151 73 1 (242)
 Earnings from continuing
 operations before income
 taxes 4,650 4,542 1,202 1,252
 Provision for income
 taxes (2,037) (1,930) (550) (509)
 Net earnings $2,613 $2,612 $652 $743
 Net earnings per common
 share $0.49 $0.42 $0.13 $0.13
 Weighted average number
 of common shares and
 common share
 equivalents
 outstanding 5,332,000 6,230,000 5,137,000 5,751,000
 -0- 3/3/92
 /CONTACT: Frank Borman, chairman, or Richard Laitinen, treasurer, 505-524-4050, both of Patlex Corp./
 (PTLX) CO: Patlex Corp. ST: New Mexico IN: SU: ERN


KJ-CH -- LA021 -- 4577 03/03/92 15:34 EST
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Date:Mar 3, 1992
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