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ADVANCED INTERVENTIONAL SYSTEMS REPORTS 1993 FIRST QUARTER RESULTS

 IRVINE, Calif., April 23 /PRNewswire/ -- Advanced Interventional Systems (NASDAQ: LAIS) today announced results for the quarter ended March 31, 1993. Revenues for the first quarter were $3,319,000, compared to revenues of $4,924,000 reported for the quarter ended March 31, 1992. The company reported a net loss for the quarter ended March 31, 1993, of $2,382,000, or $0.24 loss per share, compared to a net income of $138,000, or $.01 per share, quarter ended March 31, 1992. The higher revenues last year resulted from the positive impact of a significant backlog LAIS had accumulated during 1991, prior to the receipt of federal Food and Drug Administration marketing approval for its laser system.
 ADVANCED INTERVENTIONAL SYSTEMS
 Financial Highlights
 Quarter Ended March 31,
 1993 1992
 Total revenues $3,319,000 $4,924,000
 Net income (loss) (2,382,000) 138,000
 Average shares 9,963,507 9,944,000
 Net income (loss) per share ($.24) $.01
 Chief Financial Officer Richard Crosby said that the placement of the company's excimer laser systems remains strong. He was particularly pleased that the seven shipments of laser systems in the first quarter went to hospitals in the top tier of interventional cardiology. This maintains the company's dominant position in laser angioplasty in this important market segment.
 Crosby said, "revenues during the first quarter were affected by two programs LAIS has established to gain market share in hospitals that perform a high volume of angioplasty procedures. Under the first of these plans, customers who purchase the company's first generation DYMER 200+ laser unit will be allowed to exchange that unit for the company's new LAISer II system when it becomes available. A certain portion of revenues under this program are being deferred until the LAISer II unit is shipped," he said.
 The company recently received FDA approval for the LAISer II unit in a shorter than anticipated time frame. The company anticipates that the LAISer II unit will be introduced commercially in late 1993.
 "The company's second program, the `bridge-to-budget' program, grew out of the company's recognition that hospitals today are operating in an uncertain economic environment," Crosby said. "LAIS believes that once hospitals and interventional cardiologists have experienced the advantages -- ease of use and cost effectiveness of laser angioplasty -- they will be more likely to purchase the company's products.
 "LAIS has therefore instituted the `bridge-to-budget' program which allows customers to rent a DYMER 200+ unit and apply a portion of the rental payments to the eventual purchase of the unit," he said. "Until the customer elects to purchase the unit, only rental payments received in this program are recognized as revenues."
 Advanced Interventional Systems pioneered the procedure for treating heart disease with an excimer laser system and was the first company to receive approval from the FDA to market a laser system for clearing blocked arteries in the heart. The company is committed to ongoing technological advances that further expand the clinical utility of excimer laser angioplasty. LAIS was founded in 1986 and completed its initial public offering in November 1991.
 ADVANCED INTERVENTIONAL SYSTEMS(R)
 Consolidated Condensed Financial Statements
 Statement of Operations
 for Period Ended March 31, 1993 1992
 Net revenues $3,319,000 $4,924,000
 Cost of sales 2,164,000 2,256,000
 Gross profit 1,155,000 2,668,000
 Operating expenses:
 Research and development 1,059,000 1,076,000
 General & admin.,
 sales & marketing 2,613,000 1,760,000
 Total operating expense 3,672,000 2,836,000
 Operating profit (loss) (2,517,000) (168,000)
 Total other income (expense) 139,000 308,000
 Net income (loss) before
 tax ($2,378,000) $140,000
 Income tax expense 4,000 2,000
 Net income (loss) after
 tax ($2,382,000) $138,000
 Weighted average number
 of shares 9,963,507 9,944,000
 Net income (loss)
 per share ($0.24) $0.01
 Period Ended March 31, Dec. 31,
 1993 1992
 Balance Sheet Summary
 Assets:
 Current assets $23,338,000 $26,541,000
 Property, plant &
 equipment net 4,161,000 3,435,000
 Other assets 3,081,000 3,165,000
 Total assets $30,580,000 $33,141,000
 Liabilities and
 Stockholders Equity:
 Current liabilities $4,029,000 $4,521,000
 Long term debt 775,000 508,000
 Stockholders equity 25,776,000 28,112,000
 Total liabilities and
 equity $30,580,000 $33,141,000
 -0- 4/23/93
 /CONTACT: Connie McCluskey of Advanced Interventional Systems, 714-586-1342 or 714-581-8510, ext. 234/
 (LAIS)


CO: Advanced Interventional Systems ST: California IN: MTC SU: ERN

KJ-LS -- LA003 -- 9906 04/23/93 09:03 EDT
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Date:Apr 23, 1993
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