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CABOT MEDICAL CORPORATION ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS

CABOT MEDICAL CORPORATION ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS
 LANGHORNE, PA. Sept. 15 /PRNewswire/ -- Cabot Medical Corporation (NASDAQ: NMS:CBOT) today announced sales and earnings for the third quarter and nine months ended Aug. 1, 1992.
 Net sales for the third quarter were up 20 percent to $12,690,000 compared with $10,582,000 in the prior year's third quarter. The company sustained a loss for the third quarter of $2,283,000 or $.30 per share compared to a profit of $681,000 or $.09 per share in 1991.
 For the nine months ending Aug. 1, net sales were $36,102,000 compared to the previous year's $29,890,000, an increase of 21 percent. The loss for the nine month period was $907,000 or $.12 per share, compared to a profit of $1,931,000 or $.25 per share in 1991.
 Commenting on the third quarter and nine month results, Warren G. Wood, chairman of Cabot Medical Corporation, stated, "The loss sustained by the company was due to restructuring and period costs, along with interest charges relating to the convertible bond issue for the acquisition of the Surgitek unit of Bristol Myers-Squibb Company. We expect to take additional charges in the fourth quarter, at which point all such expenses will have been allocated allowing us to enter fiscal 1993 with no further extraordinary expenses. The acquisition was completed at the end of the third quarter, and therefore these results do not include any revenue or earning contribution from the Surgitek division.
 "Our fundamental business in less invasive medical devices and systems continues to expand according to our plan. We expect the Surgitek division to accelerate this trend as it provides access to a new market, an expanded sales force, a new technology base and a strong manufacturing capability."
 Cabot Medical Corporation designs, develops, manufactures and markets a variety of medical devices and disposables for less invasive surgical and diagnostic procedures.
 CABOT MEDICAL CORPORATION
 CONDENSED STATEMENT OF EARNINGS
 (unaudited)
 Three Months Ended Nine Months Ended
 8/1/92 7/31/91 8/1/92 7/31/91
 Net Sales $12,690,000 $10,582,000 $36,102,000 $29,890,000
 Net Profit
 (Loss) (2,283,000) 681,000 (907,000) 1,931,000
 Earnings (Loss)
 per Common
 Share and
 Common Share
 Equivalents $(.30) $.09 $(.12) $.25
 Weighted
 average number
 of Common
 Shares and
 Common Share
 Equivalents 7,601,867 7,899,398 7,592,615 7,863,768
 /delval/
 -0- 9/15/92
 /CONTACT: Marvin Sharfstein of Cabot Medical, 215-752-8300/
 (CBOT) CO: Cabot Medical Corporation ST: Pennsylvania IN: MTC SU: ERN


LJ -- PH008 -- 9510 09/15/92 09:59 EDT
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Publication:PR Newswire
Date:Sep 15, 1992
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