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DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES IMPROVED SECOND QUARTER RESULTS

 COLUMBUS, Ohio, July 30 /PRNewswire/ -- Danninger Medical Technology, Inc. (NASDAQ: DANN) today announced total revenue increased 27 percent to $2,540,392 for the second quarter of 1993 versus $1,993,169 a year ago. Results particularly benefited from stronger sales of the company's Danniflex(TM) Continuous Passive Motion devices and an increase in the number of surgeries performed utilizing Cross Medical Products (Cross) spinal implant devices. Cross is a wholly owned subsidiary of Danninger. Net income totaled $62,876 for the three months ended June 30, 1993, compared to $33,321 in 1992. Net income per share was one cent for both periods.
 The results for the second quarter of 1993 include a net after tax charge of approximately $90,000 from the sale of certain lease receivables associated with the company's termination of its exclusive dealer program.
 Revenue improved 25 percent to $5,148,205 for the six months ended June 30, 1993, compared to the same period last year. Significant changes were implemented in the company's marketing and distribution efforts during the past 12 months which are now favorably impacting performance. Net income totaled $149,441 versus $188,632 for the six months ended June 30, 1993 and 1992, respectively. Net income per share was three cents for the first half of 1993 compared to four cents a year ago.
 Cross received 510(k) clearance from the U.S. Food and Drug Administration to market the company's Integral Screw System in May 1993. This product is used with the PWB Lumbosacral Spinal Implant System, which received 510(k) clearance in April 1992. It expands the market for Cross' spinal devices and is expected to contribute significantly to future results.
 Danninger Medical Technology, Inc. designs, manufactures and markets medical devices that assist patients in their recovery following surgery or trauma. Danninger is a leader in Continuous Passive Motion devices for the knee, hip and hand. Cross Medical Products, Inc. specializes in developing and marketing orthopedic surgical instrumentation and spinal implants.
 DANNINGER MEDICAL TECHNOLOGY, INC.
 FINANCIAL HIGHLIGHTS
 Three Months Ended Three Months Ended
 June 30, 1993 June 30, 1992
 Total Revenues $2,540,392 $1,993,169
 Net Income 62,876 33,321
 Net Income Per Share $0.01 $0.01
 Six Months Ended Six Months Ended
 June 30, 1993 June 30, 1992
 Total Revenues $5,148,205 $4,108,301
 Net Income 149,441 188,632
 Net Income Per Share $0.03 $0.04
 Average Weighted Common
 Shares Outstanding 4,467,498 4,488,669
 June 30, 1993 Dec. 31, 1992
 Working Capital $4,008,049 $3,766,968
 Total Assets $6,898,912 $7,667,400
 Shareholders' Equity 3,915,576 3,727,160
 -0- 7/30/93
 /CONTACT: John Jenkins, chief financial officer of Danninger Medical Technology, Inc., 614-276-8267/
 (DANN)


CO: Danninger Medical Technology, Inc. ST: Ohio IN: MTC SU: ERN

AR -- CL010 -- 7831 07/30/93 14:40 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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