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WISCONSIN PHARMACAL REPORTS RECORD REVENUE

 WISCONSIN PHARMACAL REPORTS RECORD REVENUE
 JACKSON, Wis., June 9 /PRNewswire/ -- John A. Wundrock, R.Ph.,


president and CEO of Wisconsin Pharmacal Company, Inc. (the "company") (NASDAQ: WPCI) reports net revenues for the second quarter ending March 31 totalling $4,237,175, an increase of 20 percent over the same prior year period.
 The company reported net income for the second quarter of $392,976 or $0.10 per share compared to net income of $147,000 or $0.04 per share for the prior year quarter. Revenues to date totalled $5,244,750, an increase of 9 percent compared to 1991. Year-to-date the company reported a net loss of $64,435 or $0.02 per share versus a net loss of $83,000 for the same period in 1991, or $0.03 per share.
 Wundrock indicated that year-to-date earnings were negatively impacted by two significant expenditures to develop products, as well as increases in sales, marketing and advertising expenses. First, expenses related to the REALITY Female Condom totalled $384,518 in the first six months of FY 1992 versus $242,272 in the same FY 1991 period. Second, expenses related to development, start up and marketing associated with the launch of the company's new biodegradable fishing baits, BAITMATE ULTIMATE BAITS, totalled $224,723 in the first six months of FY 1992 compared to no expense in the same period last year.
 In total, year-to-date marketing and new product development expenses for currently marketed products increased $436,000 compared to the prior year, representing a greater commitment to marketing support in anticipation of the spring and summer seasons for the company's REPEL and BAITMATE seasonal product lines.
 These factors were more than offset as a result of the effects of the January 1992 settlement of the chemical fish attractant patent infringement lawsuit. The stock settlement for an amount which was less than the $2,000,000 provision recorded in fiscal 1991 resulted in second quarter 1992 income of $687,458.
 Year-to-date sales for the REPEL Insect Repellent were up 18 percent. Sales of the BAITMATE products were up 37 percent including $538,000 for initial sales of the new BAITMATE ULTIMATE BAITS which were first shipped in February. The Baits are a new form of fishing lures which will biodegrade within 24 to 36 hours after being placed in the water.
 Wundrock also reported that the company has restructured its arrangement with Chartex International Plc, the licensor for the REALITY Female Condom, to resolve a difference in contract interpretation and provide additional geographic coverage. In reference to the exclusive U.S./Canadian agreements, all payments made to date will continue as prepaid royalties. Any future shortfall payments for minimum royalties will be treated as exclusivity payments and not as prepaid royalties. An additional royalty equal to the greater of $.08 or 6.6 percent of the net selling price per unit will be paid on the first 12.5 million units of REALITY sold. The company entered a new 20-year agreement for exclusive distribution and marketing rights for REALITY in Mexico with provisions similar to the U.S. agreement. The company also signed an agreement with Chartex to negotiate an exclusive license for Argentina. Concurrently, it relinquished an option to negotiate a license for South Korea.
 On Jan. 31, 1992, an FDA Advisory Panel unanimously recommended that FDA approve the REALITY Pre-Market Approval ("PMA") application contingent on the successful completion of an ongoing pregnancy study and the provision of certain other data. On March 30, 1992, the company received a follow-up letter from FDA requesting specific additional information and asking when the information would be submitted in order for the agency to resume its accelerated review and to schedule a panel session for that purpose. The company expects to submit the final results of the pregnancy study and other information in July.
 The company is considering various options to bring REALITY to the marketplace. It is currently holding discussions with several large companies as potential marketing partners in North America.
 WISCONSIN PHARMACAL COMPANY, INC.
 Condensed Consolidated Operating Results
 (unaudited)
 Pds. ended March 31: 3 Months 6 Months
 1992 1991 1992 1991
 Revenues
 Product Sales $4,237,175 $3,463,000 $5,169,750 $4,642,000
 Royalties --- 75,000 75,000 150,000
 $4,237,175 $3,538,000 $5,244,750 $4,792,000
 Net income
 (loss) $ 392,976 $ 147,000 $ (64,435)$ (83,000)
 Weighted avg. no.
 of common and common
 equivalent shares
 outstanding 3,857,339 3,284,000 3,402,912 3,278,000
 Net income (loss) per
 common and common
 equivalent share $.10 $.04 $(.02) $(.03)
 NOTE: Included above as a charge (credit) to earnings are the
 following items:
 research and new product development
 expenditures related to
 the Company's female
 condom product $229,477 $175,392 $384,518 $242,272
 patent infringement
 lawsuit provision
 reversal $(687,458) --- $(687,458) ---
 -0- 6/9/92
 /CONTACT: John A. Wundrock, president and CEO of Wisconsin Pharmacal, 414-677-4121/
 (WPCI) CO: Wisconsin Pharmacal Company Inc. ST: Wisconsin IN: MTC SU: ERN


TQ -- NY017 -- 8263 06/09/92 09:53 EDT
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Date:Jun 9, 1992
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