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UNITED STATES SURGICAL CORPORATION ANNOUNCES 45 PERCENT INCREASE IN NET INCOME ON SALES INCREASE OF 41 PERCENT FOR THE THIRD QUARTER 1992

UNITED STATES SURGICAL CORPORATION ANNOUNCES 45 PERCENT INCREASE IN NET
 INCOME ON SALES INCREASE OF 41 PERCENT FOR THE THIRD QUARTER 1992
 NORWALK, Conn., Oct. 16 /PRNewswire/ -- United States Surgical Corporation (NYSE: USS) reported today sales and earnings for the third quarter of 1992. Sales increased 41 percent to $293.3 million versus $207.5 million for the comparable 1991 quarter. Net income and net income per share rose 45 percent and 42 percent, respectively, to $36.5 million or $.61 per share compared to $25.2 million or $.43 per share in the third quarter of 1991.
 For the nine months ended Sept. 30, 1992, sales increased 46 percent to $875.2 million versus $600.8 million in the comparable 1991 period. Net income and net income per share rose 61 percent and 54 percent, respectively, to $101.0 million or $1.68 per share versus $62.6 million or $1.09 per share over the 1991 nine month period.
 Leon C. Hirsch, chairman, said, "The rapid acceptance of USSC's laparoscopic line and continued growth in its core stapling products were the primary contributors to strong sales and earnings performance for the third quarter and nine month period."
 USSC unveiled a wide range of new stapling and laparoscopic products this week at the American College of Surgeons' Meeting. The company plans to phase these new products into the market over the next 18 months.
 The board of directors declared a quarterly dividend of $.075 per share for holders of record Wednesday, Nov. 25, 1992, payable Friday, Dec. 11, 1992.
 United States Surgical Corporation is the world's largest manufacturer and marketer of surgical staplers, the leader in the growing field of minimally invasive surgery and a recent entrant into the suture market.
 UNITED STATES SURGICAL CORPORATION AND SUBSIDIARIES
 Consolidated Statements of Income (Unaudited)
 Nine Months Ended Three Months Ended
 September 30, September 30,
 In thousands, except
 per share data 1992 1991 1992 1991
 Net sales $875,232 $600,815 $293,325 $207,510
 Costs and expenses:
 Cost of products sold 355,614 246,614 115,533 83,987
 Research and development 31,176 21,310 12,877 6,676
 Selling, administrative
 and general 336,639 235,024 111,083 77,856
 Interest 11,500 8,495 3,140 3,055
 Total costs and
 expenses 734,929 511,443 242,633 171,574
 Income before income taxes 140,303 89,372 50,692 35,936
 Income taxes 39,281 26,812 14,190 10,781
 Net income $101,022 $ 62,560 $ 36,502 $ 25,155
 Average number of common
 shares and common share
 equivalents outstanding 60,175 57,198 59,818 58,503
 Net income per common
 share and common
 share equivalent $1.68 $1.09 $.61 $.43
 Dividends paid per
 common share $.2250 $.2125 $.075 $.075
 UNITED STATES SURGICAL CORPORATION AND SUBSIDIARIES
 Consolidated Balance Sheets (Unaudited)
 Sept. 30, Sept. 30,
 In thousands 1992 1991
 ASSETS
 Cash $ 2,737 $ 2,594
 Receivables (net) 263,423 153,410
 Inventories 219,366 158,141
 Other current assets 21,973 21,570
 Total Current Assets 507,499 335,715
 Property, plant, and equipment (net) 490,750 266,734
 Other assets 121,787 49,232
 Total Assets $1,120,036 $651,681
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities $ 165,551 $111,933
 Long-term debt 353,710 220,000
 Deferred income taxes 31,786 30,144
 Stockholders' Equity:
 Common stock 6,342 6,033
 Additional paid-in capital 317,240 186,519
 Retained earnings 297,007 183,502
 Installment receivables from
 sales of common stock (6,000) (8,068)
 Treasury stock (70,651) (71,070)
 Other 25,051 (7,312)
 Stockholders' equity 568,989 289,604
 Total Liabilities and
 Stockholders' Equity $1,120,036 $651,681
 -0- 10/16/92
 /CONTACT: Marianne Scipione, vice president corporate communications of United States Surgical, 203-845-1404/
 (USS) CO: United States Surgical Corporation ST: Connecticut IN: HEA SU: ERN


PS -- NY063 -- 1101 10/16/92 16:16 EDT
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Date:Oct 16, 1992
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