DATASCOPE TO SUSPEND ANGIOPLASTY OPERATIONS
DATASCOPE TO SUSPEND ANGIOPLASTY OPERATIONS MONTVALE, N.J., July 20 /PRNewswire/ -- Datascope Corp.
(NASDAQ: DSCP) announced that it would suspend its Angioplasty Division operations and explore options to capture the value created by its investment in this area. As a consequence, the company said it would take a non-recurring after-tax charge to net earnings in the fourth quarter ending June 30, 1992 of $2.4 million, equivalent to $0.15 per share. The company estimates its action will increase projected net earnings in fiscal year 1993 by $0.06 per share.
Lawrence Saper, chairman and CEO of Datascope said, "We remain convinced that our INTEGRA(TM) catheter could capture a major share of the niche market now served by fixed-wire catheters. However, this outcome could be achieved profitably today only by marketing INTEGRA as part of a broad product line due to the increased competition that has emerged in the coronary angioplasty market." Under current conditions," Saper continued, "it would be too costly to finish developing and launch the range of other products we would need to be a significant player in the coronary angioplasty business." Datascope Corp. is a manufacturer of proprietary products for clinical health care markets in interventional cardiology, anesthesiology and cardiovascular and vascular surgery. -0- 7/20/92 /CONTACT: Lawrence Saper chairman of Datascope, 201-307-5508/ (DSCP) CO: Datascope Corp. ST: New Jersey IN: HEA SU:
SH-KW -- NY030 -- 0668 07/20/92 10:58 EDT
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|Date:||Jul 20, 1992|
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