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DIONEX REPORTS RESULTS FOR FOURTH FISCAL QUARTER AND FULL YEAR

 SUNNYVALE, Calif., July 26 /PRNewswire/ -- Dionex Corp. (NASDAQ: DNEX) today announced revenues and earnings for its fourth fiscal quarter and year ended June 30, 1993.
 Sales for the fourth quarter were $26,977,000, a 5-percent increase over the $25,736,000 reported in the same period last year. Had currency rates been the same as in last year's fourth quarter, sales growth would have been 4 percent. Net income was $4,237,000, compared with net income of $3,951,000 in the fourth quarter of fiscal 1992. Earnings per share increased 10 percent to 53 cents, compared to 48 cents in last year's fourth quarter.
 For the 12 months ended June 30, 1993, sales reached $105,556,000, up 10 percent from fiscal 1992 sales of $96,380,000. This represents the 13th straight year of record sales. If currency rates had remained the same as the previous fiscal year, sales growth would have been 8 percent.
 Net income for the year reached $16,295,000, or $2.02 per share, a 14-percent increase in earnings per share over the previous fiscal year. Net income was adversely affected by substantially reduced interest income during the year, attributable to reduced yields on invested cash. Net income and earnings per share reflect the company's ongoing stock repurchase programs, under which Dionex repurchased 588,200 shares of common stock during fiscal 1993. In fiscal 1992, the company repurchased 284,600 shares.
 A. Blaine Bowman, Dionex president and chief executive officer, commenting on the results, said, "Our results in fiscal 1993 reflect continued growth despite a weak economic climate in many of the markets we serve. During the year, we made solid progress in many areas and achieved strong growth in most European and Pacific Basin markets and moderate growth in North America. We enter fiscal 1994 with continuing uncertainty regarding both demand in North America as well as the impact of the fluctuating U.S. dollar on reported sales and
 Dionex Corp. is a leading manufacturer and marketer of chromatography systems for chemical analysis. The company's systems are used in environmental analysis and by the chemicals, petrochemicals, life sciences, power generation and electronics industries in a wide variety of applications.
 DIONEX CORP.
 Consolidated Statements of Income
 (In thousands except per-share amounts)
 Three Months 12 Months
 Ended June 30: 1993 1992 1993 1992
 (unaudited)
 Net sales $ 26,977 $ 25,736 $105,556 $ 96,380
 Cost of sales 8,813 8,045 33,027 30,504
 Gross profit 18,164 17,691 72,529 65,876
 Operating expenses:
 Selling, general and
 administrative 9,677 9,901 39,896 37,144
 Research and product
 development 2,480 2,271 9,295 8,251
 Total operating expenses 12,157 12,172 49,191 45,395
 Operating income 6,007 5,519 23,338 20,481
 Interest income, net 462 513 1,540 2,024
 Income before taxes on
 income 6,469 6,032 24,878 22,505
 Taxes on income 2,232 2,081 8,583 7,764
 Net income $ 4,237 $ 3,951 $ 16,295 $ 14,741
 Net income per common and
 equivalent share $ 0.53 $ 0.48 $ 2.02 $ 1.78
 Common and equivalent
 shares used in computing
 per-share amounts 7,986 8,254 8,065 8,290
 -0- 7/26/93
 /CONTACT: Barbara J. Posch of Dionex, 408-481-4107/
 (DNEX)


CO: Dionex Corp. ST: California IN: CHM SU: ERN

LH-TM -- SJ008 -- 5879 07/26/93 16:33 EDT
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Publication:PR Newswire
Date:Jul 26, 1993
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