Polymer Research Corp. of America makes announcement

Business Wire, July 31, 1995

BROOKLYN, N.Y.--(BUSINESS WIRE)--July 31, 1995--Polymer Research Corp. of America (NASDAQ:PROA) today reported results for the second quarter of 1995.

Polymer's second quarter revenues were $1,369,253, a 5% increase over last year's second quarter. While research revenues were flat, sales of products increased 56% over the prior year's quarter. Net income for the quarter was $132,530 (10 cents per share giving effect to a 10% stock dividend and a 5-for-4 stock split) compared with $128,773 for last year's second quarter.

For the six months ended June 30, 1995, Polymer reported revenues of $2,617,335, a 9% increase over the first half of last year, and net income of $211,737, compared with $225,536 in the same period last year. The 6% decrease in net income was primarily attributable to increased costs of research revenues which related to the termination of a sub-lease at the company's facilities and the allocation of such space to the company's research department.

Polymer Research Corp. of America is engaged primarily in research in the area of chemical grafting on a contract basis for a wide range of manufacturing and other companies.

CONTACT: Polymer Research Corp. of America

Harriet Finger, 718/444-4300