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AORTECH ANNOUNCES THIRD QUARTER OPERATING RESULTS

 AORTECH ANNOUNCES THIRD QUARTER OPERATING RESULTS
 ST. PAUL, Minn., Jan. 24 /PRNewswire/ -- AorTech, Inc.


(NASDAQ: AORT) announced today the results of operations for the third quarter ended Dec. 31, 1991. The company reported net sales of $773,000 compared to net sales of $1,262,000 reported one year ago. Net sales for the nine-month period ended Dec. 31, 1991 were $2,522,000 compared to $2,603,000 reported in 1990.
 AorTech also reported a third quarter net loss of $448,000, or $.08 per share, this year compared to net income of $152,000, or $.04 per share last year. For the nine months ended Dec. 31, 1991, the company reported a net loss of $1,769,000, or $.31 per share, compared to a net loss of $436,000, or $.11 per share for the comparable period last year. Third quarter expenses reflect $92,000 for amortization of the unearned compensation related to the acquisition of A-1 Engineering, Inc.
 Greg Ruehle, AorTech's president and CEO, stated, "These results reflect AorTech's shift in European marketing strategy away from the previous master distributor concept and to a program of dealing directly with individual distributors in each country. We did, however, experience delays in finalizing negotiations with some of those distributors." He added, "The former European master distributor in Germany, which AorTech replaced effective Jan. 1, 1992, represented 75 percent of AorTech's valve sales during the third quarter last year compared to 16 percent during the same quarter this year. We're pleased to see this new strategy yielding better distribution of valve purchases from other countries which will benefit AorTech in the long term - short-term, we're working with each of the new European distributors to further increase sales."
 AorTech, Inc., based in St. Paul, manufactures and distributes the Ultracor prosthetic heart valve and the Arcas/AorTech Annuloplasty Prosthetic Ring. AorTech also distributes cardiovascular electrophysiology monitoring equipment developed by Biomedical Design Group, Inc.
 AORTECH, INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Ended
 12/31/91 12/31/90
 Net sales $773,000 $1,262,000
 Cost of goods sold 552,000 730,000
 Gross margin 221,000 532,000
 Operating expenses 724,000 423,000
 Income/(loss) from operations (503,000) 109,000
 Other income (expenses) - net 23,000 (11,000)
 -- (480,000) 98,000
 Income taxes 8,000 (54,000)
 Net income/(loss) $(488,000) $152,000
 Net income/(loss) per
 common share $(.08) $.04
 Nine Months Ended
 12/31/91 12/31/90
 Net sales $2,522,000 $2,603,000
 Cost of goods sold 1,654,000 1,645,000
 Gross margin 868,000 958,000
 Operating expenses 2,644,000 1,350,000
 Income/(loss) from operations (1,776,000) (392,000)
 Other income (expenses) - net 64,000 ( 32,000)
 -- (1,712,000) (424,000)
 Income taxes 57,000 12,000
 Net income/(loss) $(1,769,000) $(436,000)
 Net income/(loss)
 per common share $(.31) $(.11)
 CONDENSED BALANCE SHEETS
 12/31/91 3/31/91
 Assets
 Current assets
 Cash and cash equivalents $998,000 $2,401,000
 Accounts receivable 817,000 1,030,000
 Inventories 2,404,000 1,157,000
 Other current assets 114,000 104,000
 Total current assets 4,333,000 4,692,000
 Property and equipment - net 824,000 739,000
 Other assets 20,000 367,000
 Total current assets $5,177,000 $5,798,000
 Liabilities and Shareholders'
 Equity
 Current liabilities $535,000 $901,000
 Long-term debt 35,000 244,000
 Shareholders'equity 4,607,000 4,653,000
 Total liabilities 5,177,000 5,798,000
 -0- 1/24/92
 / CONTACT: Gregory J. Ruehle, president and CEO of AorTech, 612-481-1208; or Tom de Petra of de Petra & Associates, 612-338-7630, for AorTech/
 (AORT) CO: Aortech, Inc. ST: Minnesota IN: MTC SU: ERN


AL -- MN013 -- 3351 01/24/92 14:01 EST
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Date:Jan 24, 1992
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