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SYNTRO REPORTS FIRST QUARTER PROFIT

 SYNTRO REPORTS FIRST QUARTER PROFIT
 KANSAS CITY, Kan., Jan. 28 -- Syntro Corporation (NASDAQ: SYNT)


today reported net earnings of $163,000, or two cents per share, for its fiscal 1992 first quarter ended Dec. 31, 1991. This compares with a net loss of $288,000, or three cents per share, for the first quarter of fiscal 1991. Total revenues for the first quarter increased 36 percent to $1,436,000, compared with $1,054,000 for the first quarter of 1991.
 Improved performance for the quarter resulted from sales of new and existing products, increased revenues from collaborative research programs and income recognized upon receipt of Protein Polymer Technologies, Inc. stock.
 "We made good progress in all of our key strategic and operational areas during the quarter," stated Dr. J. Donald Todd, president and CEO. "Sales of our PRV/Marker(R) family continue to grow and our new product development programs are on course. Our strategic alliances are yielding exciting, new vaccine candidates for future commercialization. We have also begun to realize a return on our earlier decision to transfer certain technology to Protein Polymer Technologies, Inc. which completed its initial public offering this month."
 Syntro Corporation is a Kansas City and San Diego based biotechnology company engaged in the development and commercialization of genetically engineered vaccines for the animal health sector. SyntroVet Incorporated, a wholly owned subsidiary, manufactures and markets products resulting from Syntro's research and collaborative efforts.
 SYNTRO CORPORATION AND SUBSIDIARY
 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 Three months ended
 12/31/91 12/31/90
 (unaudited) (unaudited)
 Net product sales $ 560,000 $ 563,000
 Collaborative R&D revenues 490,000 345,000
 Interest and other income 386,000 146,000
 Total revenues 1,436,000 1,054,000
 Net profit (loss) 163,000 (288,000)
 Profit (loss) per share .02 (.03)
 As of 12/31/91
 (unaudited)
 Cash & Short-Term Investments $3,641,000
 Other Current Assets 1,098,000
 Total Assets 7,566,000
 Liabilities/Debt 1,932,000
 Shareholders' Equity 5,634,000
 Shares Outstanding at December 31, 1991: 9,649,419
 -0- 01/28/92
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, Minneapolis, 612-371-0000, or J. Donald Todd of Syntro, 913-888-8876/
 (SYNT) CO: Syntro Corporation ST: Kansas IN: MTC SU: ERN


KH -- MN015 -- 4333 01/28/92 14:53 EST
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Publication:PR Newswire
Date:Jan 28, 1992
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