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UNITED-GUARDIAN REPORTS FIRST QUARTER RESULTS

 UNITED-GUARDIAN REPORTS FIRST QUARTER RESULTS
 HAUPPAUGE, N.Y., May 14 /PRNewswire/ -- United-Guardian, Inc.,


(AMEX: UG) today reported financial results for the three months ended March 31, 1992. Revenue for the 3 months was up 24 percent from last year's comparable period, while operating profits rose 54 percent from $173,318 to $267,618. Net earnings for the quarter rose from $120,066, or $.03 per share last year, to $230,768, or $.05 per share this year.
 Dr. Alfred R. Globus, chairman and chief executive officer of United-Guardian, stated: "As we projected in our annual report, revenue and earnings have continued to grow as our newer products gain market acceptance. This is a continuation of the turnaround of the company that began last year."
 United-Guardian is a manufacturer of pharmaceuticals, health care products, medical devices and cosmetic bases.
 UNITED-GUARDIAN, INC.
 Periods ended Three months
 March 31 1992 1991
 Revenue $1,764,163 $1,421,571
 Operating profit 267,618 173,318
 Net earnings from continuing operations(A) 244,768 129,204
 Net loss from discontinued operations -- (8,231)
 Provision for income taxes 92,500 45,300
 Extraordinary tax credit 78,500 44,393
 Net earnings 230,768 120,066
 Net share earnings:
 Continuing operations .03 .02
 Extraordinary credit .02 .01
 Net share earnings .05 .03
 Shares outstanding 4,762,889 4,762,889
 (A) Before provision for income taxes & extraordinary tax credit.
 -0- 5/14/92
 /CONTACT: Robert S. Rubinger of United-Guardian, 516-273-0900/
 (UG) CO: United-Guardian, Inc. ST: New York IN: MTC SU: ERN


AH-OS -- NY033 -- 0120 05/14/92 10:26 EDT
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Publication:PR Newswire
Date:May 14, 1992
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