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ADVANCED INTERVENTIONAL SYSTEMS REPORTS FIRST QUARTER OF PROFITABILITY; INCREASED SALES RESULT FROM EXPANDED MARKETING OPPORTUNITY

ADVANCED INTERVENTIONAL SYSTEMS REPORTS FIRST QUARTER OF PROFITABILITY;
 INCREASED SALES RESULT FROM EXPANDED MARKETING OPPORTUNITY
 IRVINE, Calif., April 28 /PRNewswire/ -- Advanced Interventional Systems (NASDAQ: LAIS) today announced net income for the quarter ended March 31, 1992, of $138,000 with an earnings per share of $.01 compared to a loss of $1,499,000 with an earnings per share loss of $.23 for the same period in 1991. The company reported total sales of $4,924,000 for the three months ended March 31, 1992, compared to sales of $1,154,000 for the same period in 1991.
 ADVANCED INTERVENTIONAL SYSTEMS
 Three months ended Three months ended
 March 31, 1992 March 31, 1991
 Total revenues $4,924,000 $1,154,000
 Net income (loss) $138,000 ($1,499,000)
 Net income (loss) per share $0.01 ($0.23)
 According to Robert E. Wall, chairman and chief executive officer, this first quarter of profitability came as a result of the federal Food and Drug Administration's (FDA) approval on Jan. 31, 1992, which enabled LAIS to begin commercially marketing its laser angioplasty device. LAIS is the first company to receive the FDA approval for a laser device to treat heart disease.
 "Until the first quarter of this year, LAIS focused primarily on conducting clinical investigations of the excimer laser coronary angioplasty (ELCA) procedure for the FDA approval. With the recently received approval, we can now market our LAIS Dymer (R) 200+ system broadly to medical centers throughout the United States. After the many years we have worked to develop this product, it is truly exciting to offer it now as an innovative, less-invasive alternative for patients who suffer from heart disease," he said.
 LAIS' strategy is to establish its Dymer 200+ excimer laser system as the preferred means of treating certain patients who cannot be treated effectively by balloon angioplasty, or who would otherwise require highly invasive coronary bypass surgery, Wall said.
 "Data collected during our clinical trials, since 1988, on nearly 4,000 patients worldwide shows that ELCA expands the number of patients that interventional cardiologists can treat successfully, particularly those with complex blockages," he said.
 The company shipped 18 laser units during the first quarter in 1992, which accounts for approximately 87 percent of the total revenue for the three-month period. Gross profit for the current quarter was $2,668,000, or 54 percent of revenue. This is compared to $146,000, or 13 percent of the revenues for the same period in 1991. The increase in gross profit margin resulted from improvements in manufacturing yields and efficiency because of increased volumes.
 Operating expenses increased to $2,849,000 for the current quarter compared to $1,750,000 for the same period in 1991. This 63 percent increase was due primarily to an increase in staffing and costs in sales and marketing as the company prepared itself for market introduction of the Dymer 200+ laser system.
 During the treatment of heart disease with laser angioplasty, laser energy is transmitted through a fiber optic-based catheter and administered in pulses. LAIS' Dymer 200+ system is a "cool laser" that utilizes a photochemical process rather than heat to remove plaque. This photochemical process vaporizes plaque by converting it into gaseous liquid and micro-particulate form, which is eliminated through the body's natural waste system.
 Advanced Interventional Systems pioneered excimer laser angioplasty and is the technological leader in the development of laser systems for cardiovascular systems. The company was founded in 1986 and completed its initial public offering in November 1991. On Jan. 31, 1992, it received approval from the FDA to market the first laser system designed to treat heart disease.
 ADVANCED INTERVENTIONAL SYSTEMS
 Condensed Financial Statements
 Quarters Ended March 31, 1992, and March 31, 1991
 Quarter ended Quarter ended
 Statement of Operations March 31, 1992 March 31, 1991
 Net revenues $4,924,000 $1,154,000
 Cost of sales 2,256,000 1,008,000
 Gross profit 2,668,000 146,000
 Operating expenses:
 Research and development 1,077,000 892,000
 General and administrative 544,000 368,000
 Sales and marketing 1,228,000 490,000
 Total operating expense 2,849,000 1,750,000
 Operating profit (loss) (181,000) (1,604,000)
 Total other income (expense) 321,000 105,000
 Net income (loss) before tax $140,000 ($1,499,000)
 Income tax expense 2,000 0
 Net income (loss) after tax $138,000 ($1,499,000)
 Weighted avg. number of shares 9,481,482 6,539,141
 Net income (loss) per share $0.01 ($0.23)
 Quarter ended Quarter ended
 Balance Sheet Summary March 31, 1992 Dec. 31, 1991
 Assets:
 Current assets $39,190,000 $38,571,000
 Property, plant &
 equipment, net 1,176,000 1,172,000
 Other assets 159,000 160,000
 Total a $3,136,000 $2,705,000
 Long-term debt 588,000 570,000
 Stockholders equity 36,801,000 36,628,000
 Total liabilities and equity $40,525,000 $39,903,000
 -0- 4/28/92
 /CONTACT: Connie McCluskey of Advanced Interventional Systems, 714-581-8510, ext. 234, or 714-586-1342/
 (LAIS) CO: Advanced Interventional Systems ST: California IN: MTC SU: ERN


CH-KJ -- LA015 -- 3574 04/28/92 09:02 EDT
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Date:Apr 28, 1992
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