CardioVascular Dynamics announces 113 percent increase in revenues.

IRVINE, Calif.--(BW HealthWire)--Jan. 30, 1997--CardioVascular Dynamics Inc. (NASDAQ:CCVD) on Thursday announced that revenue for the fourth quarter 1996, totaled $2,548,000, a 95 percent increase over 1995 fourth quarter revenues of $1,305,000.

For the year ended Dec. 31, total revenues advanced to $8,734,000, a 113 percent increase over 1995 revenues of $4,103,000.

The company reported a net loss for the quarter of $2,779,000, or 30 cents per share. This compares with a fourth quarter 1995 loss of $597,000, or 14 cents per share. The fourth quarter of 1996 included a non-recurring charge of $2,133,000 for acquired in-process research and development associated with the acquisition of Intraluminal Devices Inc.

As a result of this acquisition, CVD acquired patented self-expanding Microporous Stent Technology that the company believes could have potentially significant clinical applications in the treatment of both obstructive atherosclerotic disease and aortic aneurysms.

For the year, the company's net loss was $4,624,000 (65 cents per share), compared with a loss of $2,874,000 (65 cents per share) in 1995. The company continues to invest in its research and development efforts as well as building its manufacturing infrastructure and sales/marketing organization.

Jeffrey Thiel Joins CVD Team, Michael Crocker Leaves Company

Jeffrey Thiel has joined CVD as vice president, manufacturing operations. Thiel has over 15 years of experience in the medical device industry, including eight years in management positions with St. Jude Medical. Michael Crocker, formally CVD vice president, engineering, has resigned from the company.

CVD develops and markets site-specific drug delivery catheters, combined angioplasty-drug delivery catheters, stent delivery systems, advanced therapeutic catheters and vascular access products. -0-

NOTE: Except for the historical information contained herein, the matters discussed in this news release may be forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. The receipt of regulatory approvals and clinical efficacy of, manufacturability of and market demand for products, among other matters discussed in this release, may cause actual results to differ significantly from the discussion of such matters in the forward-looking statements.

Actual results may be affected by, among other things, risk and uncertainties related to new product development and introduction cycles, research and development activities, delays by regulatory authorities, scientific advances by CVD or third parties, introduction of competitive products, third party reimbursement and physician training, as well as those factors set forth in the CVD prospectus, dated June 19, 1996.

CONTACT: CardioVascular Dynamics, Irvine

Dana Nickell, CFO 

714/457-9546