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SURVIVAL TECHNOLOGY, INC., ANNOUNCES FOURTH QUARTER EARNINGS INCREASE AND FISCAL 1992 AUDITED RESULTS

SURVIVAL TECHNOLOGY, INC., ANNOUNCES FOURTH QUARTER EARNINGS INCREASE
 AND FISCAL 1992 AUDITED RESULTS
 ROCKVILLE, Md., Nov. 5 /PRNewswire/ -- Survival Technology, Inc. (NASDAQ: STIQ) today announced audited results of operations for its fourth quarter and fiscal year ended July 31, 1992. STI reported a 27 percent increase in net income of $583,100 (19 cents per share) on sales of $11.2 million for the fourth quarter of fiscal 1992 compared with net income of $462,800 (15 cents per share) on sales of $10.8 million for the same prior year period. Net income for the fiscal year ended July 31, 1992, was $1.7 million (56 cents per share) on sales of $40.9 million; net income was $3 million (99 cents per share) on sales of $46.7 million in the corresponding prior year period. Operating results for the year ended July 31, 1992 and 1991, include extraordinary items of $36,600 (1 cent per share) and $1,162,100 (39 cents per share), respectively from the utilization of tax loss carryforwards. Utilization of net operating loss carryforwards totaled $206,300 (7 cents per share) in the fourth quarter of fiscal 1991.
 "As previously projected, STI has achieved fiscal 1992 results comparable to fiscal 1991 on a fully taxed basis, despite the anticipated loss of military business created by Operation Desert Storm during the previous year," said James H. Miller, president and chief executive officer of STI. "We believe the company is now well positioned for long-term growth, particularly from the ongoing development of new proprietary commercial auto-injectors to meet the expanding array of new injectable drugs that demand safe and convenient patient administration."
 Commercial product sales continued to grow, generating revenues of $35 million during fiscal 1992 compared to $20.4 million in fiscal 1991, representing a $14.6 million (72 percent) increase over the corresponding prior year period. Sales of Syntex's drug Toradol in the company's Cartrix syringe system contributed sales of $23 million (56 percent) and $11.9 million (25 percent) to consolidated revenues in fiscal 1992 and 1991, respectively. Beyond the $4 million of current Syntex purchase orders for which the company expects to complete deliveries during the second quarter of fiscal 1993, STI does not anticipate receiving any additional orders for Toradol prefilled syringes. The company has taken steps to reduce overhead costs in conjunction with the elimination of Toradol production with a view toward mitigating the adverse impact on results of operations in future periods.
 In fiscal 1992, STI's proprietary EpiPen auto-injector and EpiPen Jr. auto-injector generated revenue of $6.4 million which represents a $3.4 million (111 percent) increase over the $3 million of EpiPen revenue in fiscal 1991. Sales of the company's patented CytoGuard Aerosol Protective Device contributed revenues of $3.8 million in fiscal 1992 which represents a 15 percent increase over sales of $3.3 million generated in the comparable prior year period.
 Increases in commercial product sales were offset by anticipated decreases in sales of military auto-injectors to the U.S. Department of Defense (DoD) and the absence of revenues from outpatient services disposed of during fiscal 1991. Sales of military auto-injector products fells $19.4 million (76 percent) from $25.4 million in fiscal 1991 to $6 million for the current fiscal year. Sales of military products in fiscal 1991 included significant orders from the DoD and other allied foreign governments largely in support of Operation Desert Shield/Storm.
 The heightened awareness in the United States and abroad concerning the need to maintain an appropriate level of defense against the threat of nerve gas attack has resulted in several new orders from the United States and other foreign allied governments for the company's military auto-injector products. Presently, the company has orders aggregating $8.5 million for military auto- injectors to be delivered in fiscal 1993. These orders include a $1.7 million order from the company's principal competitor, Duphar, which closed down its U.S. industrial base for military auto- injectors and requested STI to complete an open DoD order for AtroPens previously awarded to Duphar.
 Survival Technology, Inc., is a technology-based health care company that designs, develops and produces automatic injectors, prefilled syringes and medical electronics, with major focus on safe and convenient participation by the patient in injection therapy. The company also supplies delivery system design, pharmaceutical research and development and sterile product manufacturing to major pharmaceutical companies worldwide.
 -0- 11/5/92
 /NOTE: Toradol, EpiPen and EpiPen Jr. are registered trademarks; Cartrix is a trademark./
 /CONTACT: Jeffrey W. Church, v.p.-finance and CFO, Survival Technology, 301-926-1800/ CO: Survival Technology, Inc. ST: Maryland IN: MTC SU: ERN


TW -- DC016 -- 7757 11/05/92 13:08 EST
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Date:Nov 5, 1992
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