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GULL LABORATORIES REPORTS RECORD YEAR-END SALES, EARNINGS FOR 1992

 SALT LAKE CITY, Jan. 25 /PRNewswire/ -- Gull Laboratories, Inc. (NASDAQ: GULL), a leading manufacturer and marketer of high quality medical products, today announced that its 1992 year-end earnings will be an increase of 100 percent over 1991. A strong fourth quarter contributed to the overall yearly performance.
 Annual sales for 1992 are expected to be $9.4 million and earnings of $1.1 million, or $0.20 per share, are a 100 percent increase over 1991's $0.10 per share. The preliminary fourth quarter revenues of $2.1 million provided earnings of $140,424 or $0.03 per share, compared to a loss of $0.03 in the fourth quarter of 1991.
 Milton Adair, president and CEO, commented, "The strong fourth quarter was largely due to control of inventories over the entire year, as well as a more normal distribution of expenses." Adair stated, "We expect future years to be more in line with this distribution of earnings rather than those reported in the past. No longer should our shareholders expect to see sharp drops in fourth quarter earnings due to inventory re-evaluations and inordinate expense distribution."
 Founded in 1974, Gull Laboratories, Inc. develops, manufactures and markets high-quality diagnostic test kits for the detection of infectious diseases. The company markets these products for use in hospitals and clinical laboratories around the world.
 GULL LABORATORIES, INC.
 STATEMENT OF INCOME
 Three Months Ended
 12/31/92 (unaudited) 12/31/91
 REVENUES $2,102,804 $1,924,139
 NET INCOME (LOSS) 140,424 (122,384)
 PER SHARE .03 (.03)
 WEIGHTED AVG. NUMBER OF
 SHARES OUTSTANDING 5,518,124 5,383,398
 Twelve Months Ended
 12/31/92 (unaudited) 12/31/91
 REVENUES $9,395,223 $6,951,500
 NET INCOME (LOSS) 1,064,932 539,949
 PER SHARE .20 .10
 WEIGHTED AVG. NUMBER OF
 SHARES OUTSTANDING 5,449,817 5,383,398
 -0- 1/25/93
 /CONTACT: Peter Van Duser of Gull Laboratories, Inc., 801-263-3521; or Bill Roberts of Cameron Towey Central, 708-729-8521, for Gull Laboratories, Inc./
 (GULL)


CO: Gull Laboratories, inc. ST: Utah IN: MTC SU: ERN

KK -- CL001 -- 8277 01/25/93 08:58 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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