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PHARMAKINETICS LABORATORIES, INC., ANNOUNCES FIRST QUARTER EARNINGS

 BALTIMORE, Nov. 10 /PRNewswire/ -- PharmaKinetics Laboratories, Inc. (OTC Bulletin Board: PKLB), today reported revenue of $2,144,320 for the three month period ended Sept. 30, 1993, compared to $1,903,211 for the same period in the prior year, representing a 13 percent increase. The company recognized net earnings for the first quarter of $101,373 or 1 cent per share compared to $65,935 or 1 cent per share for the same period in the prior year. This represents a 54 percent increase in net earnings on a comparable basis.
 As recently announced, the company has expanded its management team by the appointment of Christopher H. Hendy, Ph.D., as vice president for clinical evaluation services. Hendy will join the company on Dec. 15, 1993, and will manage its early stage clinical research business.
 PharmaKinetics Laboratories, Inc., is a leading drug development company providing services to pharmaceutical firms seeking new drug approvals in the United States and Canada.
 PHARMAKINETICS LABORATORIES, INC.
 Financial Highlights
 (Unaudited)
 Sept. 30,
 For the quarter ended 1993 1992
 Revenue $2,144,320 $1,903,211
 Earnings before income taxes $96,373 $65,935
 Benefit of income taxes $5,000 --
 Net earnings $101,373 $65,935
 Net earnings per share $0.01 $0.01
 Weighted average shares outstanding 12,719,234 10,826,151
 -0- 11/10/93
 /CONTACT: Taryn L. Kunkel, vice president and chief financial officer, of PharmaKinetics Laboratories, 410-385-4500/
 (PKLB)


CO: PharmaKinetics Laboratories, Inc. ST: Maryland IN: MTC SU: ERN

DC-KD -- DC027 -- 2863 11/10/93 15:12 EST
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Publication:PR Newswire
Date:Nov 10, 1993
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