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SYNTRO REPORTS THIRD QUARTER EARNINGS

 SYNTRO REPORTS THIRD QUARTER EARNINGS
 KANSAS CITY, Kan., July 29 /PRNewswire/ -- Syntro Corporation


(NASDAQ-NMS: SYNT) today reported net earnings of $80,000, or one cent per share, for its fiscal 1992 third quarter ended June 30, 1992. This compares with a net loss of $324,000, or three cents per share, for the third quarter of fiscal 1991. Revenues for this year's third quarter increased 51 percent to $1,488,000, compared with revenues of $984,000 for the third quarter of 1991.
 The increase in revenue resulted from growth in product sales, expanded collaborative product development programs and, to a lesser degree, increased interest income.
 "We have now achieved net profits in each of our last four quarters," said Dr. J. Donald Todd, Syntro's president and CEO. "Our product sales and collaborative research revenues have shown steady growth, and our capital resources have been augmented by the successful completion of our stock offering early in the third quarter. Our product development programs are on course and we continue to pursue corporate development and marketing alliances that we believe will speed commercialization of our technology in both domestic and international markets."
 For the first nine months of fiscal 1992, Syntro reported net earnings of $537,000, or five cents per share, on revenues of $4,600,000. For the comparable period in fiscal 1991, the company reported a loss of ten cents per share on revenues of $3,055,000.
 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 market. 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 Nine months ended
 June 30, June 30,
 1992 1991 1992 1991
 Net product sales $745,000 $468,000 $1,985,000 $1,492,000
 Collaborative R&D
 revenues 660,000 446,000 1,711,000 1,239,000
 Interest & Other income 83,000 70,000 904,000 324,000
 Total revenues 1,488,000 984,000 4,600,000 3,055,000
 Net profit (loss) 80,000 (324,000) 537,000 (972,000)
 Profit (loss) per share .01 (.03) .05 (.10)
 June 30,
 1992
 Cash & short-term investments $10,023,000
 Other current assets 1,099,000
 Total assets 13,928,000
 Liabilities/debt 1,749,000
 Stockholders' equity 12,179,000
 Shares outstanding at
 June 30, 1992: 11,239,944
 -0- 7/29/92
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, 612-371-0000 or Dr. J. Donald Todd of Syntro, 913-888-8876/
 (SYNT) CO: Syntro Corporation ST: Kansas IN: MTC SU: ERN


KH -- MN009 -- 4679 07/29/92 14:18 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
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