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PATLEX CORP. ANNOUNCES FIRST QUARTER EARNINGS FOR QUARTER ENDED MARCH 31, 1992

 PATLEX CORP. ANNOUNCES FIRST QUARTER EARNINGS
 FOR QUARTER ENDED MARCH 31, 1992
 LAS CRUCES, N.M., May 15 /PRNewswire/ -- Patlex Corp. (NASDAQ: PTLX) announced today operating results for the quarter ended March 31, 1992, and comparisons of results for the period ended March 31, 1991.
 For the three months ended March 31, 1992, total laser patent royalties were $1,844,000 as compared to $1,842,000 in the first quarter of 1991.
 Net earnings for the current quarter were $750,000, or $.15 per share, as compared to $777,000, or $.14 per share, in 1991 on 5,130,000 and 5,616,000 weighted average number of common shares in 1992 and 1991, respectively.
 PATLEX CORP.
 Statements of Earnings
 (Unaudited)
 Three Months Ended
 March 31,
 1992 1991
 Royalties:
 Total net laser
 patents royalties 1,844,000 1,842,000
 Costs and expenses:
 General and administrative 412,000 353,000
 Amortization of patents 255,000 255,000
 Total costs and expenses 667,000 608,000
 Operating income 1,177,000 1,234,000
 Other income (deductions):
 Interest income 89,000 103,000
 Interest expense (94,000) (10,000)
 Other, net 144,000 11,000
 Other income (deductions), net 139,000 104,000
 Earnings before income taxes 1,316,000 1,338,000
 Provision for income taxes (566,000) (561,000)
 Net earnings $750,000 $777,000
 Net earnings per common share $0.15 $0.14
 Weighted average number of
 common shares and common share
 equivalents outstanding 5,130,000 5,616,000
 -0- 5/15/92
 /CONTACT: Frank Borman, chairman, or Richard Laitinen, treasurer, of Patlex, 505-524-4050/
 (PTLX) CO: Patlex Corp. ST: New Mexico IN: SU: ERN


DM-KJ -- LA003 -- 0604 05/15/92 09:05 EDT
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Date:May 15, 1992
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