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ROYCE LABORATORIES ANNOUNCES SECOND QUARTER AND SIX MONTH RESULTS

 ROYCE LABORATORIES ANNOUNCES SECOND QUARTER AND SIX MONTH RESULTS
 MIAMI, Aug. 14 /PRNewswire/ -- Royce Laboratories, Inc. (NASDAQ: RLAB) today announced net sales for the quarter ended June 30, 1992 were $565,705 compared to $403,257 in the second quarter of 1991. The company had a net loss of $1,180,619 for the second quarter compared to last year's second quarter net loss of $102,228.
 For the six months ended June 30, 1992 net sales were $1,012,734 vs. net sales of $656,114 in the comparable 1991 period. The net loss was $1,612,592 compared to net income of $109,960 for the first six months of 1991. The net income for the first six months of 1991 included an extraordinary gain of $347,838 on the settlement of debt.
 The major factors contributing to the losses in the first and second quarters of this year were the marketing, advertising and production expenses incurred in connection with the anticipated launch of Piroxicam in April of this year, which did not occur, as well as legal and consulting fees paid in seeking to remedy outstanding issues with the FDA. In addition, the company incurred approximately $500,000 in expenses related to product recalls and subsequent inventory write downs on Haloperidol and Minoxidil, constituting substantially all of the write down which will occur relating to these products.
 Royce Laboratories, Inc. is a manufacturer of off-patent prescription and over-the-counter pharmaceuticals.
 -0- 8/14/92
 /CONTACT: Patrick J. McEnany, president of Royce Laboratories, Inc., 305-624-1500/
 (RLAB) CO: Royce Laboratories, Inc. ST: Florida IN: MTC SU: ERN


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Date:Aug 14, 1992
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