ROYCE LABORATORIES ANNOUNCES YEAR END RESULTS
ROYCE LABORATORIES ANNOUNCES YEAR END RESULTS MIAMI, March 30 /PRNewswire/ -- Royce Laboratories, Inc.
(NASDAQ: RLAB) today announced its results of operations for the year ended Dec. 31, 1991.
The results of operations are as follows: ROYCE LABORATORIES, INC. Year ended Dec. 31, 1991 1990 Revenues $ 1,991,345 $ 1,504,579 Net Income (loss) (A) $ 63,881 $ (453,375) Net Income (loss) per common share $ -- $ (.06) Average shares outstanding 23,692,575 7,400,461 (A) -- Net income for 1991 includes a $345,828 gain on the settlement of debt. Net income for 1990 includes $78,195 gain on the settlement of debt. The company noted that the improved results for the year ended Dec. 31, 1991 as compared to the prior year were primarily due to increased sales to several new customers. Further, during the fourth quarter of 1991 the company expanded its selling, general and administrative expenses in preparation of launching Piroxicam in April. Royce Laboratories, Inc. is a manufacturer of prescription and over-the-counter generic pharmaceuticals. -0- 3/30/92 /CONTACT: Patrick J. McEnany, president of Royce Laboratories, Inc., 305-624-1500/ (RLAB) CO: Royce Laboratories, Inc. ST: Florida IN: MTC SU: ERN
AW-AK -- FL010 -- 2908 03/30/92 12:46 EST
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|Date:||Mar 30, 1992|
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