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PHARMAKINETICS LABORATORIES ANNOUNCES SECOND QUARTER EARNINGS

 PHARMAKINETICS LABORATORIES ANNOUNCES SECOND QUARTER EARNINGS
 BALTIMORE, Feb. 20 /PRNewswire/ -- PharmaKinetics Laboratories, Inc. (NASDAQ: PKLBQ), today reported consolidated revenue of $3,309,500 and $6,798,752 for the three and six month periods ending Dec. 31, 1991. The company incurred net losses of $646,653 or 6 cents per share and $1,174,482 or 11 cents per share for the three and six month periods, respectively. This compares to net losses of $764,690 or 8 cents per share and $1,533,468 or 15 cents per share for the comparable periods one year ago. The company has recorded expenses related to actual and anticipated costs associated with the reorganization of the company under Chapter 11. During the three and six month periods ended Dec. 31, 1991, these expenses totaled $150,000.
 Revenues declined for the three and six month periods as a result of several adverse factors: in the United States, a decline in biopharmaceutics testing attributable to continuing governmental inspections and increasing regulatory requirements of the generic drug industry, which has disrupted the operations of principal clients of the company and the Chapter 11 proceedings under the United States Bankruptcy Code which commenced in November 1990; and in Germany, a short-term decrease in demand for traditional toxicology services and from reduced capacity for testing during restructuring of the German subsidiary.
 During the preparation of a plan of reorganization under Chapter 11, the company has been operating under cash collateral agreements with its primary creditor. In January 1992, the Bankruptcy Court of the District of Maryland approved a Third Cash Collateral Agreement for the use of funds by the company through June 30, 1992, under terms similar to the prior agreements.
 PharmaKinetics Laboratories, Inc., is a leading drug development company providing services to pharmaceutical and biotechnology firms seeking new drug approvals in the United States and Europe.
 PHARMAKINETICS LABORATORIES, INC.
 Financial Highlights
 (Unaudited)
 Three Months Ended Six Months Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Contract Revenue $3,309,500 $4,332,927 $6,798,752 $8,799,504
 (Loss) before reorganization
 items and provision for
 (benefit of) income
 taxes $(506,156) $(751,327) $(1,024,482) $(1,514,055)
 Provision for
 (benefit of)
 income taxes $ (9,503) $ 13,363 $ -- $ 19,413
 Net (loss) $(646,653) $(764,690) $(1,174,482) $(1,533,468)
 Net (loss)
 per share $ (.06) $ (.08) $ (.11) $ (.15)
 Weighted
 average shares
 outstanding 10,357,921 10,085,314 10,333,005 10,085,314
 -0- 2/20/92
 /CONTACT: Taryn L. Kunkel, CPA, vice president and chief financial officer, PharmaKinetics Laboratories, 410-385-4500/
 (PKLBQ) CO: PharmaKinetics Laboratories, Inc. ST: Maryland IN: MTC SU: ERN


DC-MK -- DC014 -- 0900 02/20/92 12:02 EST
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Date:Feb 20, 1992
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