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SYNTEX ESTIMATES FOURTH QUARTER RESULTS

 SYNTEX ESTIMATES FOURTH QUARTER RESULTS
 PALO ALTO, Calif., Aug. 6 /PRNewswire/ -- Syntex Corp. (NYSE: SYN)


said today that, based on preliminary, unaudited sales figures and estimated expenses, earnings per share in the fourth quarter of fiscal 1992, which ended July 31, 1992, are expected to equal or slightly exceed earnings per share in the fourth quarter of fiscal 1991. Earnings per share in the fourth quarter of fiscal 1991 were $.38. Recently published analysts' estimates, available to the company, range between $.41 and $.51 per share for the fiscal 1992 fourth quarter.
 Sales of approximately $513 million in the fourth quarter of fiscal 1992 were approximately 14 percent higher than sales of $447.5 million in the fourth quarter of fiscal 1991 but were below sales of $527.9 million in the third quarter of fiscal 1992.
 The company's gross profit percentage declined slightly in the fourth quarter of fiscal 1992 compared with the year-ago quarter. Operating expenses increased in the fiscal 1992 fourth quarter compared with the fourth quarter of fiscal 1991, as the company continued to increase its marketing spending to introduce newer prescription pharmaceutical products and made planned investments in research and development. Also, as previously reported, the company's tax rate was two percentage points higher in the fiscal 1992 fourth quarter than in the 1991 fourth quarter.
 Sales of naproxen and naproxen sodium, the company's leading prescription pharmaceutical products, increased modestly in the fourth quarter of fiscal 1992 compared with the year-ago quarter, but declined in the fiscal 1992 fourth quarter from third quarter fiscal 1992 sales. Sales of ketorolac increased significantly in the fiscal 1992 fourth quarter compared with the fourth quarter of fiscal 1991, when the oral formulation was not yet being sold in the United States, but were relatively flat compared with sales in the fiscal 1992 third quarter, which included significant introductory shipments of oral ketorolac to wholesalers in the United States.
 Syntex expects to report final results, including final sales data for all major products, for the fiscal 1992 fourth quarter and full year during the week of Aug. 24.
 - 0 - 8/6/92
 /CONTACT: Kathleen Gary, 415-855-5924; Nancy Peterson, 415-855-5567; or Linda Thomas, 415-852-1321, all of Syntex/
 (SYN) CO: Syntex ST: California IN: MTC SU: ERP


RM -- SJ002 -- 7545 08/06/92 11:04 EDT
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Date:Aug 6, 1992
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