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SURVIVAL TECHNOLOGY ANNOUNCES SECOND QUARTER RESULTS

 SURVIVAL TECHNOLOGY ANNOUNCES SECOND QUARTER RESULTS
 ROCKVILLE, Md., March 18 /PRNewswire/ -- Survival Technology,


Inc. (NASDAQ-NMS: SURV), today announced net income of $369,000 (12 cents per share) on sales of $10 million for the second quarter of fiscal 1992 compared with net income of $1,549,900 (52 cents per share) on sales of $14.3 million in the second quarter of fiscal 1991. For the first six months of the current fiscal year, the company reported net income of $670,000 (22 cents per share) on sales of $19.4 million compared with net income of $1,801,900 (61 cents per share) on sales of $23.9 million for the comparable six-month period in 1991. The current quarter compares favorably with earnings of $301,000 (10 cents per share) on sales of $9.4 million previously reported in the first quarter of fiscal 1992.
 "Performance in the second quarter was not expected to match 1991 results as the comparable prior year quarter included significant sales of military auto-injectors relating to Operation Desert Storm, which accounted for more than one-half of the company's annual revenues in that year. Current results are on target which project fiscal 1992 earnings to be comparable with fiscal 1991 earnings on a fully taxed basis," said James H. Miller, president and chief executive officer of STI. He noted that, as planned, the company is continuing to accelerate the growth of its commercial products business and anticipates improved profitability during the second half of the year.
 Sales of commercial products continued to strengthen, aggregating $8.7 million in the second quarter and $15.6 million in the first six months of fiscal 1992. This represents increases of over 70 percent when compared with the same periods a year ago. This growth is attributable to revenue from sales of Syntex Laboratories, Inc.'s drug Toradol in the company's Cartrix syringe system coupled with sales of the company's EpiPen auto-injector, a commercial automatic injector containing epinephrine for self-administration by individuals for emergency treatment of severe allergic reactions. The company expects to report continuing sales growth from its commercial products over the remaining six months of fiscal 1992.
 Increases in commercial product sales were offset primarily by anticipated decreases in sales of military auto-injectors to the U.S. Department of Defense (DoD). On Jan. 24, 1992, the company received an order totalling $1.1 million from the DoD for the company's Mark I Antidote Kit, which consists of two injectors, the AtroPen Auto- Injector filled with atropine and the ComboPen Auto-Injector, filled with pralidoxime chloride. Deliveries under this contract are scheduled to commence in the third quarter and be completed by the end of the current fiscal year.
 While margins through the first six months of fiscal 1992 were below those experienced in prior years, margins in the current quarter improved over those reported in the first quarter of fiscal 1992. Margin improvements are expected to continue over the remaining two quarters of fiscal 1992 as the company's capital expansion program is nearing completion, with many projects currently on-line.
 Operating results for the six-month period ended Jan. 31, 1992, include an extraordinary item resulting from the utilization of tax loss carryforwards totalling $36,600 (1 cent per share). During the second quarter and six-month period ended Jan. 31, 1991, such utilization of net operating loss carryforwards as an extraordinary item resulted in a tax benefit of $588,900 (20 cents per share) and $684,700 (23 cents per share), respectively.
 STI is now developing a family of auto-injectors to fit the expanding array of injectable drugs that demand safe and convenient patient administration. Patents for these new systems are expected to be granted in 1992, and the company is working with a growing number of pharmaceutical companies toward their use in the delivery of a variety of drug therapies.
 STI provides medical devices and pharmaceutical services for the treatment of emergency medical problems. The company's products include automatic injectors for self-administration by military personnel of antidotes against nerve gas and commercial auto- injectors such as the EpiPen auto-injector containing epinephrine for severe allergic reactions and the LidoPen auto-injector for treatment of cardiac arrhythmias. STI provides complete sterile parenteral contract filling and packaging services for prefilled syringes including pharmaceutical R&D.
 -0- 3/18/92
 /NOTE: Toradol, AtroPen, ComboPen, LidoPen and EpiPen are registered trademarks. Cartrix is a trademark./
 /CONTACT: Jeffrey W. Church, vice president-finance and CFO, Survival Technology, 301-926-1800/
 (SURV) CO: Survival Technology, Inc. ST: Maryland IN: MTC SU: ERN


DC-MH -- DC012 -- 9220 03/18/92 12:00 EST
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Date:Mar 18, 1992
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