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DRUG SCREENING SYSTEMS REPORTS SECOND QUARTER/SIX MONTHS RESULTS

DRUG SCREENING SYSTEMS REPORTS SECOND QUARTER/SIX MONTHS RESULTS
 BLACKWOOD, N.J., Feb. 14 /PRNewswire/ -- Drug Screening Systems, Inc. (NASDAQ: DRUG), today reported results for the fiscal 1992 second quarter and six months ended Dec. 31, 1991.
 For the second quarter ended Dec. 31, 1991, the company had a net loss of $672,914 or $.08 per share on revenues of $89,609 compared to a net loss of $362,834 or $.07 per share on revenues of $211,022 for the same period last year.
 The net loss for the six months ended Dec. 31, 1991 was $1,151,216 or $.15 per share on revenues of $194,964 compared to a net a loss of $587,964 or $.12 per share on revenues of $344,025 for the first half of fiscal 1991.
 "The decline in revenues is attributable primarily to reduced purchases by Wells Fargo Guard Services, our primary distributor, in anticipation of the availability of a cannabinoid (marijuana) test cleared for marketing by the U.S. Food and Drug Administration, which was received in January 1992," Robert G. Wallace, president, said.
 "The increased loss was mainly due to product development, marketing to new industry segments and the addition to production, administrative, sales and marketing personnel in preparation for an expanded level of activity," he added.
 "With all four tests now cleared for marketing by the FDA (cannabinoid, cocaine, opiates and methamphetamine), Wells Fargo and other distributors have begun marketing the company's full product line to business, law enforcement and government agencies, and health care professionals," Wallace concluded.
 Drug Screening Systems is a biochemical diagnostic company engaged in the development, manufacture and marketing of on-site screening tests for drugs of abuse. The company's products are currently sold under the trademarks MACH IV SCREEN(R) and MICROLINE SCREEN(R) in the United States and throughout Europe, South America and the Far East through distributors and sales agents.
 DRUG SCREENING SYSTEMS, INC.
 Comparative Analysis (Unaudited)
 Period ended Three months Six months
 Dec. 31 1991 1990 1991 1990
 Revenues $ 89,609 $211,022 $ 194,964 $344,025
 Net income (loss) (672,914) (362,834) (1,151,216) (587,964)
 Net income (loss)
 per share (.08) (.07) (.15) (.12)
 Average shares
 outstanding 8,000,788 4,921,865 7,532,757 4,723,099
 -0- 2/14/92
 /CONTACT: Gary Nacht of Drug Screening Systems, 609-228-8500/
 (DRUG) CO: Drug Screening Systems, Inc. ST: New Jersey IN: HEA SU: ERN


SH-OS -- NY063 -- 0324 02/14/92 15:50 EST
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Publication:PR Newswire
Date:Feb 14, 1992
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