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PATLEX CORP. ANNOUNCES THIRD QUARTER EARNINGS FOR QUARTER ENDED SEPT. 30, 1992

 LAS CRUCES, N.M., Nov. 17 ~PRNewswire~ -- Patlex Corp. (NASDAQ: PTLX) announced operating results for the quarter and nine months ended Sept. 30, 1992, and comparisons of results for the periods ended Sept. 30, 1991.
 For the three months ended Sept. 30, 1992, net laser patent royalties were $1,608,000 as compared to $1,738,000 in the third quarter of 1991.
 Net earnings for the current quarter were $287,000, or $.06 per share as compared to $635,000 or $.12 per share in 1991 on 5,170,000 and 5,145,000 weighted average number of common shares outstanding in 1992 and 1991, respectively. Included in the 1992 third quarter results were non-recurring expenses of $300,000 related to the proposed merger with AutoFinance Group Inc.
 For the nine months ended Sept. 30, 1992, net laser patent royalties were $5,284,000 as compared to $5,205,000 for the nine months ended Sept. 30, 1991.
 Net earnings for the current nine months were $1,710,000, or $.33 per share as compared to $1,961,000, or $.36 per share in 1991, on 5,170,000 and 5,400,000 weighted average number of common shares outstanding in 1992 and 1991, respectively.
 PATLEX CORP.
 Statements of Earnings
 (Unaudited)
 Nine months ended Three months ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Royalties:
 Total net laser
 patents royalties $5,284,000 $5,205,000 $1,608,000 $1,738,000
 Costs and expenses:
 General and
 administrative 1,090,000 1,142,000 337,000 360,000
 Amortization of
 patents 765,000 765,000 255,000 255,000
 Proposed merger costs 435,000 --- 300,000 ---
 Total costs and
 expenses 2,290,000 1,907,000 892,000 615,000
 Operating income 2,994,000 3,298,000 716,000 1,123,000
 Other income
 (deductions):
 Interest income 310,000 273,000 109,000 92,000
 Interest expense (327,000) (178,000) (97,000) (95,000)
 Other, net 338,000 55,000 77,000 4,000
 Other income
 (deductions), net 321,000 150,000 89,000 1,000
 Earnings before
 income taxes 3,315,000 3,448,000 805,000 1,124,000
 Provision for
 income taxes (1,605,000) (1,487,000) (518,000) (489,000)
 Net earnings $1,710,000 $1,961,000 $287,000 $635,000
 Net earnings per
 common share $0.33 $0.36 $0.06 $0.12
 Weighted average number
 of common shares and
 common shares equiva-
 lent outstanding 5,170,000 5,400,000 5,170,000 5,145,000
 -0- 11~17~92
 ~CONTACT: Frank Borman, chairman, or Richard Laitinen, treasurer, of Patlex, 505-524-4050~
 (PTLX)


CO: Patlex Corp. ST: New Mexico IN: SU: ERN

LS-JB -- LA001 -- 1694 11~17~92 09:10 EST
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Date:Nov 17, 1992
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