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ONCOR REPORTS RECORD NET PRODUCT SALES IN SECOND QUARTER ENDED JUNE 30, 1992

 ONCOR REPORTS RECORD NET PRODUCT SALES IN SECOND QUARTER
 ENDED JUNE 30, 1992
 GAITHERSBURG, Md., July 27 /PRNewswire/ -- Oncor, Inc. (NASDAQ: ONCR), today reported financial results for the quarter and six months ended June 30, 1992.
 Net product sales in the second quarter of 1992 increased by 36 percent to a record $1,319,162 compared with $968,865 in the second quarter of 1991. Since there were no contract revenues in the period, total revenues for the second quarter of 1992 were $1,319,162, which compares to total revenues for the second quarter of 1991 of $1,418,865, which included the Hickley International Limited contract revenues of $450,000. Oncor completed its research and development contract with Hickley in the third quarter of 1991.
 The company recorded a net loss of $1,714,719 or $0.12 per share on a weighted average of 14,405,015 shares outstanding in the second quarter of 1992, compared with a net loss of $674,116, or $0.08 per share, on 8,841,529 weighted average shares.
 Net product sales in the first six months of 1992 increased by 23 percent to $2,426,400, compared with $1,971,501 in the first six months of 1991. Total revenues, which included $850,000 in contract revenue in the six months of 1991 period, decreased from $2,821,501 to $2,426,400 in the six months ended June 30, 1991 and 1992, respectively. The net loss of $4,825,070, or $0.35 per share on a weighted average of 13,603,662 shares outstanding for the six months ended June 30, 1992, includes a one-time net charge of $1,446,820 in order to terminate royalty payments required to be paid to Hickley, and compares with a net loss of $1,006,092 or $0.12 per share on a weighted average of 8,518,377 shares outstanding for the first six months of 1991. As of June 30, 1992, the company had cash and cash equivalents of $33.4 million.
 Stephen Turner, chairman and chief executive officer, said, "We are pleased with our growth in net product sales, reflecting increasing demand for our products and the introduction of new products. Our operating loss primarily reflects our increasing investments in research and development of new technologies and in the expansion of our field sales force."
 ONCOR, INC.
 Statements of Operations
 (Unaudited)
 Periods ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Net sales $ 1,319,162 $ 968,865 $ 2,426,400 $ 1,971,501
 Contract revenue -- 450,000 -- 850,000
 Total revenues 1,319,162 1,418,865 2,426,400 2,821,501
 Operating exps.:
 Direct cost of
 sales 827,817 665,847 1,668,733 1,341,302
 Selling, general
 & admin. 1,169,413 852,521 2,175,869 1,467,266
 R&D 1,324,080 582,487 2,479,642 1,018,914
 Buyout of R&D
 contract -- -- 1,446,820 --
 Total operating
 expenses 3,321,310 2,100,855 7,771,064 3,827,482
 Loss from opers. (2,002,148) (681,990) (5,344,664) (1,005,981)
 Interest income 293,963 24,609 567,122 29,706
 Other expense (6,534) (16,735) (47,528) (29,817)
 Other inc. (exp.) 287,429 7,874 519,594 (111)
 Net loss $(1,714,719) $ (674,116) $(4,825,070) $(1,006,092)
 Net loss per share $(0.12) $(0.08) $(0.35) $(0.12)
 Weighted aver.
 shares outstg. 14,405,015 8,841,529 13,603,662 8,518,377
 -0- 7/27/92
 /CONTACT: Stephen Turner, chairman and CEO, or George R. Evanega of Oncor, 301-963-3500/
 (ONCR) CO: Oncor, Inc. ST: Maryland IN: MTC SU: ERN


GK-LR -- NY097 -- 3661 07/27/92 16:30 EDT
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Publication:PR Newswire
Date:Jul 27, 1992
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