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BIO-IMAGING TECHNOLOGIES, INC., ANNOUNCES FIRST QUARTER RESULTS

 WEST TRENTON, N.J., Feb. 3 /PRNewswire/ -- Bio-Imaging Technologies, Inc. (NASDAQ: BITI), a company providing specialized research and consulting services to the pharmaceutical, biotechnology and medical device industries, reported today revenues and operating results for the first quarter ended Dec. 31, 1992.
 Project revenue for the quarter increased by approximately 320 percent to $824,000, compared with project revenue of $196,000 for the same period of fiscal year 1992. The increase in the current quarter primarily represents revenue derived from new client contracts and additional projects with existing clients. Total project revenue for the fiscal year 1992 approximated $1,059,000.
 The company's total expenses were approximately $870,000 in the first quarter 1993 and $270,000 in the corresponding period of fiscal 1992. This increase can be attributed to the company's hiring of additional personnel and an increase in the company's operating and research and development activities, which are consistent with the growth plan of the company.
 The company had a net loss of $33,000, or 1 cent per share for the quarter ended Dec. 31, 1992, as compared with a loss of $74,000, or 7 cents a share over the comparable period of fiscal year 1992.
 James J. Conklin, MD, chairman and chief executive officer of Bio-Imaging Technologies, Inc., said, "Revenue growth and expenses in the first quarter are on target with our expectations. Clearly, the need to accelerate the development and regulatory review of new drugs and medical devices is driving our business forward, as reflected by the pace of our growth."
 BIO-IMAGING TECHNOLOGIES, INC. AND SUBSIDIARY
 Consolidated Statements of Operations
 (Unaudited)
 Three months ended Dec. 31 1992 1991
 Project revenue $823,741 $196,315
 Project costs 365,994 37,545
 Gross profit 457,747 158,770
 General and administrative expenses 379,438 218,408
 Research and development expenses 124,210 9,250
 Loss from operations (45,901) (68,888)
 Interest income (expense)-net 12,660 (5,041)
 Net loss ($33,241) ($73,929)
 Net loss per common share ($.01) ($.07)
 Weighted average number of common
 shares outstanding 2,702,673 1,015,442
 Bio-Imaging Technologies, Inc., of West Trenton, provides specialized research and consulting services to pharmaceutical, biotechnology and medical device companies. The company applies advanced technologies such as magnetic resonance imaging, nuclear medicine and fiberoscopy to visualize and measure drug and medical device effects during the clinical development and pre-clinical testing process. The company's technology helps to accelerate the development and regulatory review of new therapeutic and diagnostic agents and devices by providing more precise analyses from a smaller number of study subjects. The company also applies its technology to develop computerized regulatory submissions and image-based medical communications.
 /delval/
 -0- 2/3/93
 /CONTACT: John T. Keane, controller and CFO, or William L. Robbins, director-business development, of Bio-Imaging Technologies, 609-883-2000/
 (BITI)


CO: Bio-Imaging Technologies, Inc. ST: New Jersey IN: CPR SU: ERN

CC -- PH002 -- 2187 02/03/93 07:31 EST
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Date:Feb 3, 1993
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