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EVEREST MEDICAL REPORTS FOURTH QUARTER SALES SEVERAL USA DISTRIBUTORS ARE SIGNED

 EVEREST MEDICAL REPORTS FOURTH QUARTER SALES
 SEVERAL USA DISTRIBUTORS ARE SIGNED
 MINNEAPOLIS/ST. PAUL, Minn., Feb. 10 /PRNewswire/ -- Everest Medical Corporation (NASDAQ: EVMD) today announced fourth quarter sales of $506,085, an 85 percent increase over the same period in 1990. Sales for all of 1991 were $1,255,537, a 109 percent increase over 1990. Everest lost $.96/share or $3,417,071 in 1991, which is slightly less than last year's loss of $1.03/share.
 "We are very pleased with the sales results for the fourth quarter. Our BiLAP(R) product line, introduced at the American College of Surgeons meeting in October, is being well-received in the United States, and our O.E.M. relationship with C.R. Bard remains strong. We expect these trends to continue," said Michael Hollenhorst, Everest Medical's chairman, president and CEO.
 The company has recently signed new distributors based in Illinois, Tennessee, Texas and California. Each of these firms has from seven to 15 sales people with experience in the minimally invasive surgical market. Everest Medical expects these new relationships to contribute significantly to sales in 1992.
 Minneapolis-based Everest Medical Corporation, which became public in December 1990, is a manufacturer of bipolar electrosurgical products for the endoscopic and laparoscopic markets.
 EVEREST MEDICAL, INC.
 CONDENSED STATEMENTS OF OPERATIONS
 Fourth Quarter Ended Year Ended
 12/31/91 12/31/90 12/31/91 12/31/90
 Net sales $506,085 $273,731 $1,255,537 $602,116
 Net loss $(879,393) $(597,861) $(3,417,071) $(2,477,746)
 Loss per share $(.25) $(.22) $(.96) $(1.03)
 Weighted average
 number of shares 3,583,799 2,729,480 3,548,112 2,407,405
 CONDENSED BALANCE SHEETS
 12/31/91 12/31/90
 Current assets $1,526,047 $4,870,029
 Other assets 705,643 520,725
 Total assets $2,231,690 $5,390,754
 Liabilities 665,919 650,054
 Redeemable convertible
 preferred stock 0 3,469,374
 Shareholders' equity 1,565,771 1,271,326
 Total liabilities and
 shareholder equity $2,231,690 $5,390,754
 -0- 2/10/92
 /CONTACT: Michael J. Hollenhorst of Everest Medical, 612-473-6262, or Perry Ketchum of Ketchum & Metz, 612-349-2727, for Everest/
 (EVMD) CO: Everest Medical Corporation ST: Minnesota IN: MTC SU: ERN


DS -- MN003 -- 8175 02/10/92 09:56 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 10, 1992
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