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MERIT MEDICAL REPORTS EARNINGS FOR THREE MONTHS AND NINE MONTHS ENDED SEPT. 30, 1992

 MERIT MEDICAL REPORTS EARNINGS FOR
 THREE MONTHS AND NINE MONTHS ENDED SEPT. 30, 1992
 SALT LAKE CITY, Oct. 15 /PRNewswire/ -- Fred P. Lampropoulos, president and chief executive officer of Merit Medical Systems Inc. (NASDAQ: MMSI), announced today revenue and earnings for the third quarter and nine months ended Sept. 30, 1992.
 For the three months just ended, earnings were $284,672 or $0.04 per share on sales revenues of $4.6 million vs. $320,831 or $0.06 per share on sales revenues of $2.7 million for the same period a year ago. Earnings per share for the third quarter are based upon 6,598,152 weighted average shares outstanding vs. 5,815,333 weighted average shares outstanding a year ago. Earnings for the nine-month period were $747,590 or $.12 per share (6,195,789 weighted average shares outstanding) on sales revenues of $13.1 million vs. $1.02 million or $.19 per share (5,472,204 weighted average shares outstanding) on sales revenues of $7.0 million for the same period a year ago.
 While total nine-month sales revenues rose by nearly 87 percent compared to the first nine months of 1991, lower earnings for the period are attributed to a number of factors, including the write-off of patent acquisition costs and significant start-up manufacturing costs for new products, which are expected to contribute to revenues and earnings as early as the first quarter of 1993. Management also noted that the company's tax rate for the nine months ended Sept. 30, 1992, was 34 percent vs. 6 percent for the same period a year ago.
 Merit Medical had entered its third quarter with a number of important challenges. These included a lag in regulatory approvals for several new products, ramp-up for its new Manifold custom kit, and a limited, voluntary recall on one of its inflation devices. Entering the fourth quarter, Merit has received Food and Drug Administration approvals to market two new product lines. Its custom kits have been well received in the marketplace, and the company has obtained substantial domestic and international orders for its Manifold custom kits. The limited recall has been completed. Additionally, Merit has also received two new patents on its digital inflation systems.
 "Though we are somewhat disappointed by the quarter's earnings results, we have made significant strides toward positioning the company for future growth and profitability," said Lampropoulos. "Much of what we have accomplished can be expected to increase our productivity and improve operating income in 1993 and beyond."
 Merit also announced that its board of directors has authorized a stock repurchase program to purchase shares of the company's outstanding common stock in an amount up to $300,000. Repurchases will be made from time to time in the open market or through privately negotiated transactions and will be used in connection with Merit's employee benefit plans.
 Founded in 1987, Merit Medical Systems Inc. is a world leader in the development, manufacture and distribution of disposable, proprietary medical products used in interventional and diagnostic procedures in cardiology and radiology. The company serves client hospitals worldwide, domestically through its direct sales force and internationally through independent representatives.
 MERIT MEDICAL SYSTEMS INC.
 Consolidated Earnings Summary for the Third Quarter and
 Nine Months Ended Sept. 30, 1992
 (Unaudited)
 Three Months Ended
 Sept. 30, Sept. 30,
 1992 1991
 Sales revenues $4,592,602 $2,660,299
 Income before taxes 406,673 386,447
 Net income 284,672 320,831
 Net income per share $0.04 $0.06
 Weighted average
 shares outstanding 6,598,152 5,815,333
 Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991
 Sales revenues $13,117,448 $7,027,374
 Income before taxes 1,129,983 1,086,591
 Net income 747,590 1,020,975
 Net income per share $0.12 $0.19
 Weighted average
 shares outstanding 6,195,789 5,472,204
 -0- 10/15/92
 /CONTACT: Fred P. Lampropoulos, president and CEO or Kent W. Stanger, CFO, of Merit Medical Systems, 801-263-9300; or Madeleine Franco or Richard Bernot of Jordan Richard Assoc., 801-595-8611, for Merit Medical/
 (MMSI) CO: Merit Medical Systems Inc. ST: Utah IN: MTC SU: ERN


EH-JN -- LA016 -- 0319 10/15/92 10:20 EDT
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Date:Oct 15, 1992
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