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MOCON ANNOUNCES SALES AND EARNINGS FOR FIRST QUARTER

 MINNEAPOLIS, April 21 /PRNewswire/ -- MOCON (Modern Controls, Inc.) (NASDAQ-NMS: MOCO) today announced first quarter sales and earnings for the period ended March 31, 1993.
 First quarter sales were $3,032,000 compared to $3,722,000 during the same period in 1992. Sales were up 5 percent compared with the fourth quarter of 1992. Net income for the first quarter was $626,000, or 13 cents per share, compared with $793,000 or 16 cents a share for the same period in 1992.
 "We remain highly profitable, as noted by EQUITIES Magazine this month, but our revenue growth continues to be adversely affected by our customers' concern about their capital equipment budgets," said William N. Mayer, chairman and CEO. "We will stay focused on profitability and managed growth," Mayer continued. "Our balance sheet remains strong and the opportunity for growth looks better than in the past year."
 MOCON Named to EQUITY Magazine's List of America's
 Most Profitable Companies
 "If we seem too tough on the companies that face a challenging and scrutinizing marketplace, look at these 205 winners that make money for themselves and their shareholders," said Charles Gerena, in the April issue of EQUITIES Magazine. The profitability criteria used to select MOCON and the other winners was indeed tough, and staying power over many years was required. MOCON ranked 79th out of the 105 NASDAQ companies selected to the list.
 MOCON is a leading developer, manufacturer and marketer of high technology instrumentation designed to test packages, packaging materials, films and pharmaceutical products. The company employs several patented technologies to measure permeation of various gases, gauge thickness and weight variation during production of materials, and to test for leakage in quality control applications.
 MOCON testing instrumentation is used in research, production, and quality control applications in the food, plastics, medical pharmaceutical industries.
 MOCON's shares are traded over-the-counter and are listed in the NASDAQ National Market System. The company's electronic NASDAQ trading symbol is MOCO.
 MOCON
 Condensed Consolidated Statements of Income
 and Selected Balance Sheet Information
 (in thousands except earnings per share)
 Three Months Ended
 3/31/93 3/31/92
 Sales $3,032 $3,722
 Net income $626 $793
 Earnings per share $.13 $.16
 Weighted average
 shares outstanding 4,905 4,937
 3/31/93 12/31/92
 Cash and marketable securities $10,757 $10,437
 Current assets $15,598 $15,151
 Current liabilities $4,078 $1,636
 Long-term liabilities $23 $23
 Stockholders' equity $12,593 $14,614
 Total assets $16,694 $16,273
 -0- 4/21/93
 /CONTACT: Ron Meyer, CFO of MOCON, 612-493-6370/
 (MOCO)


CO: MOCON, Modern Controls, Inc. ST: Minnesota IN: MTC FOD CPR SU: ERN

AL -- MN003 -- 8503 04/21/93 08:51 EDT
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Publication:PR Newswire
Date:Apr 21, 1993
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