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ENDOTRONICS, INC. REPORTS FOURTH-QUARTER PROFIT, LOSS FOR YEAR

 ENDOTRONICS, INC. REPORTS FOURTH-QUARTER PROFIT, LOSS FOR YEAR
 MINNEAPOLIS, Dec. 18 /PRNewswire/ -- Endotronics, Inc. (NASDAQ: ENDO) today announced operating results for the fourth quarter and fiscal year ended Sept. 30, 1991. For the quarter, the company reported net income of $110,000, less than 1 cent per share, compared with a loss of $583,000 or $0.04 per share, in the same quarter of last year. Sales totaled $1,529,000 compared with $827,000 in the 1990 fourth quarter.
 For the year, the company reported a loss of $1,217,000 or $0.07 per share, compared with a loss of $1,770,000 or $0.12 per share, for the prior year. Sales totaled $4,707,000 in 1991 compared with $3,501,000 in 1990.
 For both the fourth quarter and full year, sales of instruments and disposables were higher. The sale of an XCELL(TM) system, the company's largesontributing to profitability was a fourth-quarter increase in production and an inventory adjustment of approximately $150,000.
 "While the fiscal year ended 1991 was an exciting and successful year, we do not anticipate profitability in the first and second quarters of fiscal 1992. We must continue to implement our growth plans, which are predicated on product and market diversification in order to achieve profitability on a consistent basis," said Richard E. Sakowicz, president and chief operating officer of Endotronics, Inc.
 Sakowicz went on to say that he was pleased with the performance of other parts of the business. The amount of grant revenue recognized for the fourth-quarter and year-end periods increased as a result of a five- year National Institutes of Health grant which was awarded in September 1990; fourth-quarter media and related product sales were steady to year-ago levels, while contract research and development increased.
 "We also introduced a new research instrument, the ACUMOUSE(TM) in Europe, Japan and the U.S. subsequent to the fourth quarter. This proprietary product is expected to have a significant impact on worldwide sales over the next five years," Sakowicz added.
 ENDOTRONICS, INC.
 CONDENSED STATEMENTS OF OPERATIONS
 (In thousands, except per-share amounts)
 Three Months Ended Year Ended
 Sept. 30, Sept. 30,
 1991 1990 1991 1990
 Revenues $1,529 $827 $4,707 $3,501
 Operating income (loss) $139 ($628) ($1,003) ($1,682)
 Net income (loss) $110 ($583) ($1,217) ($1,770)
 Net income (loss) per common
 share $0.00 ($0.04) ($0.07) ($0.12)
 Weighted average number of
 common shares outstanding 18,547 15,100 17,912 14,811
 NOTE -- Amounts for the year ended Sept. 30, 1991, and 1990 are derived from the audited financial statements for those years.
 Endotronics, Inc., headquartered in Minneapolis, is a recognized industry leader in hollow fiber cell culture instrumentation with more than 650 instruments installed worldwide. The company's products and services are used by biotechnology, pharmaceutical, diagnostic companies and research centers for production of mammalian cell-derived human health care products.
 -0- 12/18/91
 /CONTACT: Yvonne L. Marschner-Bova of Endotronics, Inc., 313-871-7350/
 (ENDO) CO: Endotronics, Inc. ST: Minnesota IN: MTC SU: ERN


JG-SM -- DE029 -- 3523 12/18/91 15:37 EST
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Date:Dec 18, 1991
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