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ELECTROMEDICS RELEASES THIRD QUARTER 1993 EARNINGS

 ENGLEWOOD, Colo., Oct. 29 /PRNewswire/ -- Electromedics Inc. (NASDAQ- NMS: ELMD) today reported revenues of $9.3 million for the third quarter ended Sept. 30, 1993 compared to revenues of $9.7 million for the third quarter of 1992. Net income for the third quarter of 1993 was $277,000, 2 cents per share versus $466,000, 4 cents per share, for the like period a year ago.
 "In the third quarter sales of autotransfusion machines exceeded the sales plan for the first time this year. Hospitals are continuing to realize that autologous blood products provide substantial cost savings while improving patient care which is the cornerstone of the proposed health care reforms," said F. James Lynch, president and chief executive officer.
 "Machine sales increased 52 percent in the third quarter despite sluggish domestic sales of blood therapy and surgical care disposable products," added Richard B. Carlock, vice president and chief financial officer. "The increase in machine sales is a leading indicator of a pick up in surgical procedures and an increase in the sales of autotransfusion disposable products which are important factors in predicting sales growth."
 Electromedics designs, manufactures and markets medical equipment and associated disposable devices, focusing on blood therapy and surgical care. Headquartered in Englewood, Electromedics employs more than 300 men and women. Its products are sold to more than 1,000 hospitals and medical centers throughout the United States and in 30 countries with new sales and service offices located in Frankfurt, Germany and in Strasbourg, France.
 ELECTROMEDICS INC.
 Consolidated Condensed Statements of Income
 (Unaudited)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 Restated Restated
 1993 1992 1993 1992
 Sales $9,307,000 $9,720,000 $28,210,000 $29,206,000
 Cost of sales 5,239,000 5,285,000 15,710,000 15,932,000
 Gross profit 4,068,000 4,435,000 12,500,000 13,274,000
 Operating expenses
 Selling and
 administrative 3,147,000 3,070,000 9,824,000 9,054,000
 Research and
 development 549,000 544,000 1,644,000 1,440,000
 Income from operations 372,000 821,000 1,032,000 2,780,000
 Other income and
 expenses
 Interest income 144,000 246,000 545,000 720,000
 Other income 30,000 38,000 187,000 134,000
 Interest expense (95,000) (346,000) (408,000) (1,040,000)
 Income before taxes and
 nonrecurring item 451,000 759,000 1,356,000 2,594,000
 Provision for income
 taxes 174,000 293,000 518,000 1,001,000
 Income before
 nonrecurring item 277,000 466,000 838,000 1,593,000
 Cumulative effect of
 change in accounting
 principle --- --- --- 1,569,000
 Net income $277,000 $466,000 $838,000 $3,162,000
 Net income per
 common share:
 Net income before
 nonrecurring item $0.02 $0.04 $0.06 $0.14
 Cumulative effect of
 change in
 accounting principle --- --- --- $0.13
 Net income $0.02 $0.04 $0.06 $0.27
 Weighted average number
 of common shares
 outstanding 14,070,624 11,934,773 14,122,438 11,894,258
 -0- 10/29/93
 /CONTACT: F. James Lynch or Richard B. Carlock of Electromedics, 303-790-8700/
 (ELMD)


CO: Electromedics Inc. ST: Colorado IN: MTC SU: ERN

MC -- DV001 -- 8410 10/29/93 10:10 EDT
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Date:Oct 29, 1993
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