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ADVANCED INTERVENTIONAL SYSTEMS ANNOUNCES SECOND QUARTER RESULTS

 IRVINE, Calif., July 28 /PRNewswire/ -- Advanced Interventional Systems (NASDAQ: LAIS) today announced results for the second quarter ended June 30, 1993. Revenues for the three months ended June 30, 1993, were $3,568,000, compared to revenues of $2,134,000 reported for the three months ended June 30, 1992. The company reported a net loss for the second quarter ended June 30, 1993, of $3,971,000, or $.40 per share. The loss for this quarter includes a charge of $1,900,000 (or $.19 of the $.40 per share loss) incurred as a result of the tentative agreement to settle the securities class action lawsuit during the second quarter. This compares to a net loss of $1,548,000, or $.17 per share, for the second quarter ended June 30, 1992.
 Total revenues for the six months ended June 30, 1993, were approximately $6.9 million, compared to approximately $7.1 million for the period ended June 30, 1992. Net loss for the six months ended June 30, 1993, was $6,353,000, or $.64 per share, compared to a loss of $1,410,000, or $.15 per share, in the same period of the previous year.
 ADVANCED INTERVENTIONAL SYSTEMS AND SUBSIDIARY
 Quarter Ended June 30: 1993 1992
 Total revenues $3,568,000 $2,134,000
 Net income (loss) (3,971,000) (1,548,000)
 Average shares 9,994,000 9,339,000
 Net income (loss) per share ($.40) ($.17)
 Six Months Ended June 30: 1993 1992
 Total revenues $6,887,000 $7,058,000
 Net income (loss) (6,353,000) (1,410,000)
 Average shares 9,979,000 9,314,000
 Net income (loss) per share ($.64) ($.15)
 "Some positive developments have occurred at LAIS. We have reached a tentative settlement of the securities class action suit that was filed against the company in October 1992. Resolution of this issue will allow management to devote its full attention to business issues.
 "In addition, three PMA approvals received during the first half of 1993 could potentially contribute to sales in the third and fourth quarters of this year," said Robert E. Wall, chairman and chief executive officer. In the first quarter, the company received approval for the second generation laser angioplasty system, the LAISer II. In late June 1993, LAIS received premarket approval to commercialize two catheters based on its exclusive 50 micron fiberoptic technology. The 1.3mm diameter catheter is the smallest diameter laser angioplasty catheter available today. The other catheter is sized at 1.6mm to treat larger vessels. Catheters made from the extremely flexible 50 micron fibers (thin as a human hair) confer many advantages to the physician. 1) The tiny fibers can be arranged in a compact array at the tip of the catheter to maximize the ability of the catheter to cut and remove plaque. 2) This flexibility of the 50 micron fiber catheters enables them to traverse the tight bends and corners often found on coronary arteries. 3) The new tip design minimizes "dead space" (non-cutting surfaces at the tip of the catheter). This improvement increases the ability of this catheter to move through dense or more calcified plaque. All of these advantages should promote increases catheter usage with customers, according to the company.
 LAIS currently has 110 lasers placed worldwide that gives the company a strong base for increased catheter usage in view of the approval of these two new catheters.
 The history of these new catheters suggests a more widespread and convenient use of excimer laser coronary angioplasty (ECLA(R)). Orders being received for the newly approved catheters indicate an increased interest in usage, and this family of catheters should allow customers to treat greater numbers of long lesions in different diameter coronary arteries. These approvals, coupled with the approval of LAISer II (which is expected to be available for commercial sale in the fourth quarter of this year) offer LAIS customers an exciting array of treatment alternatives.
 Advanced Interventional Systems pioneered the procedure for treating heart disease with an excimer laser system and was the first to receive approval from the FDA to market a laser system for clearing blocked arteries in the heart.
 ADVANCED INTERVENTIONAL SYSTEMS INC. AND SUBSIDIARY
 Consolidated Condensed Financial Statements
 Three Months Ended June 30, 1993 and June 30, 1992
 Three Months Three Months
 Ended June 30, Ended June 30,
 1993 1992
 Statement of Operations:
 Net revenues $3,568,000 $2,134,000
 Cost of sales 2,139,000 1,187,000
 Gross profit 1,429,000 947,000
 Operating expenses:
 Research and development 1,100,000 1,386,000
 General and administrative,
 Sales and marketing 4,380,000 1,417,000
 Total operating expense 5,480,000 2,803,000
 Operating loss (4,051,000) (1,856,000)
 Net interest income 80,000 307,000
 Net loss before tax ($3,971,000) ($1,549,000)
 Income tax expense 0 (1,000)
 Net loss after tax ($3,971,000) ($1,548,000)
 Weighted average number
 of shares 9,994,000 9,339,000
 Net loss per share ($0.40) ($0.17)
 Period Ended Period Ended
 June 30, 1993 Dec. 31, 1992
 Balance Sheet Summary:
 Assets:
 Current assets $23,106,000 $26,541,000
 Property, plant &
 equipment, net 4,928,000 3,435,000
 Other assets 2,981,000 3,165,000
 Total assets $31,015,000 $33,141,000
 Liabilities and Stockholders' Equity:
 Current liabilities $8,463,000 $4,521,000
 Long-term debt 683,000 508,000
 Stockholders' equity 21,869,000 28,112,000
 Total liabilities and
 equity $31,015,000 $33,141,000
 -0- 7/28/93
 /CONTACT: Barbara Orozco of Advanced Interventional Systems, 714-586-1342/
 (LAIS)


CO: Advanced Interventional Systems Inc. ST: California IN: MTC SU: ERN

MF-LM -- LA021 -- 6627 07/28/93 09:05 EDT
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Date:Jul 28, 1993
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