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SYNTRO REPORTS SECOND QUARTER EARNINGS

 SYNTRO REPORTS SECOND QUARTER EARNINGS
 KANSAS CITY, Kan., April 29 /PRNewswire/ -- Syntro Corporation


(NASDAQ:SYNT) today reported net earnings of $294,000, or three cents per share, for its fiscal 1992 second quarter ended March 31, 1992. This compares with a net loss of $360,000, or four cents per share, for the second quarter of fiscal 1991. Revenues for this year's second quarter increased 65 percent to $1,675,000, including $383,000 realized from the sale of certain technology, compared with revenues of $1,016,000 for the second quarter of 1991.
 In the most recent quarter, Syntro benefited from strong sales growth, increased revenues from collaborative product development programs, and the sale of technology upon exercise of a purchase option previously granted to Protein Polymer Technologies, Inc.
 "We have now achieved net profits in three consecutive quarters and have seen substantial increases in product sales and collaborative research revenues," said Dr. J. Donald Todd, Syntro's president and CEO. "Our capital resources have been augmented by our recent common stock offering, completed following the close of our second quarter. We enter the second half of our current fiscal year stronger than when the year began and better positioned for future growth."
 For the first six months of fiscal 1992, Syntro reported net earnings of $457,000, or four cents per share, on revenues of $3,111,000. For the comparable period in fiscal 1991, the company reported a loss of seven cents per share on revenues of $2,070,000.
 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 Six months ended
 March 31, March 31,
 3/31/92 3/31/91 3/31/92 3/31/91
 Net Product Sales $680,000 $461,000 $1,240,000 $1,024,000
 Collaborative R&D Revenues 560,000 448,000 1,050,000 792,000
 Interest & Other Income 435,000 107,000 821,000 254,000
 Total Revenues 1,675,000 1,016,000 3,111,000 2,070,000
 Net Profit (Loss) 294,000 (360,000) 457,000 (649,000)
 Profit (Loss) Per Share .03 (.04) .04 (.07)
 As of
 3/31/92
 Cash & Short-Term Investments $4,088,000
 Other Current Assets 1,103,000
 Total Assets 7,855,000
 Liabilities/Debt 1,897,000
 Stockholders' Equity 5,958,000
 Shares Outstanding at March 31, 1992: 9,678,510
 -0- 4/29/92
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, 612-371-0000, for Syntro; or J. Donald Todd of Syntro Corporation, 913-888-8876/
 (SYNT) CO: Syntro Corporation ST: Minnesota IN: MTC SU: ERN


KH -- MN002 -- 4168 04/29/92 08:28 EDT
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Publication:PR Newswire
Date:Apr 29, 1992
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