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PHARMAKINETICS LABORATORIES, INC., RELEASES FIRST QUARTER RESULTS

PHARMAKINETICS LABORATORIES, INC., RELEASES FIRST QUARTER RESULTS
 BALTIMORE, Nov. 6 /PRNewswire/ -- PharmaKinetics Laboratories, Inc. (OTC Bulletin Board: PKLBQ) today reported revenue of $1,903,211 for the three-month period ended Sept. 30, 1992, as compared to $3,485,482 for the same period in the prior year. The decrease in revenue was due to the sale of the company's German subsidiary effective March 31, 1992. Domestic revenue on a comparable basis for the first quarter of fiscal 1993 increased 36 percent from $1,403,504 for the first quarter of fiscal 1992. The company recognized a profit for the first quarter of $65,935 or 1 cent per share compared to a loss of $529,158 or 5 cents per share in the same period of the prior year. Domestic operations accounted for $434,164 of the net loss in the quarter ended Sept. 30, 1991.
 As previously announced, the company filed its plan of reorganization in the Chapter 11 proceedings on Oct. 23, 1992, in the U.S. Bankruptcy Court for the District of Maryland. The company has proposed in the plan to satisfy claims through cash payments, refinanced liabilities and issuance of common stock in the company. The plan is subject to confirmation by the bankruptcy court.
 PharmaKinetics Laboratories, Inc., is a leading drug development company providing services to pharmaceutical firms seeking new drug approvals in the United States and Canada.
 PHARMAKINETICS LABORATORIES, INC.
 FINANCIAL HIGHLIGHTS
 (UNAUDITED)
 For the first quarter ended Sept. 30, 1992 1991
 Revenue $1,903,211 $3,485,482
 Earnings (loss) before provision for
 income taxes $ 65,935 $ (520,264)
 Provision for income taxes $ -- $ 8,894
 Net earnings (loss) $ 65,935 $ (529,158)
 Net earnings (loss) per share $ .01 $ (.05)
 Weighted average shares outstanding 10,826,151 10,303,400
 -0- 11/6/92
 /CONTACT: Taryn L. Kunkel, vice president and chief financial officer, PharmaKinetics Laboratories, 410-385-4500/
 (PKLBQ) CO: PharmaKinetics Laboratories, Inc. ST: Maryland IN: MTC SU: ERN


DC -- DC008 -- 8096 11/06/92 10:11 EST
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Date:Nov 6, 1992
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