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ANGEION REPORTS FISCAL 1993 RESULTS

 MINNEAPOLIS, Sept. 29 /PRNewswire/ -- Angeion Corporation (NASDAQ: ANGN; Boston Stock Exchange: ANI) announced its fiscal 1993 results. Expenses related primarily to research and development activities resulted in a net loss from continuing operations of $2,708,438, or $.26 per share, for the fiscal year ended July 31, 1993, compared with a net loss from continuing operations of $4,161,455, or $.42 per share for the fiscal year ended July 31, 1992. The loss in fiscal 1993 was offset by a gain of $3,207,120 on the September 1992 sale of Angeion's accessory products division.
 Sales continue to be nominal as Angeion focuses its attention on developing its key products. Net sales of $137,982 for the fiscal year ended July 31, 1993, compared to net sales of $77,615 for the fiscal year ended July 31, 1992. These sales were derived from original- equipment-manufacture of laser catheter products for other medical companies.
 "Significant product milestones and corporate developments were achieved during this fiscal year," said Whitney A. McFarlin, Angeion chairman and CEO. "The company began nonsurgical human clinical studies of the laser catheter device and completed critical preclinical testing of a tiered therapy implantable defibrillator. In addition, Angeion signed a strategic alliance with Siemens Pacesetter which will assist the company in marketing its products.
 "Fiscal 1994 offers Angeion tremendous challenges and opportunities as we seek to expand the laser catheter program and begin human clinical implants of the implantable defibrillator," added McFarlin.
 During fiscal 1993 Angeion:
 -- Raised nearly $12 million through the sale of its accessory products division and the signing of a strategic alliance with Siemens Pacesetter, a leading medical device manufacturer.
 -- Signed a licensing, original-equipment-manufacturing and marketing agreement with Siemens which includes patent cross licensing of Angeion's defibrillator and laser catheter products. Angeion retains the rights to manufacture and market the device under its own label.
 -- Completed the design of a functional fourth generation implantable defibrillator and began preclinical testing of the device.
 -- Began U.S. Food and Drug Administration-approved human clinical studies of Angeion's laser catheter ablation system in percutaneous applications.
 Minneapolis-based Angeion Corporation is developing products to treat rapid irregular heartbeats. These life-threatening disorders affect more than 1.4 million Americans. The defibrillator and laser catheter ablation markets are expected to grow to more than $830 million by 1995.
 ANGEION CORPORATION
 CONDENSED STATEMENTS OF OPERATIONS
 Year Ended
 7/31/93 7/31/92
 Net sales $137,982 $77,615
 Loss from continuing operations (5,915,558)(4,054,919)
 Gain on sale of discontinued
 operations 3,207,120 0
 Loss from discontinued operations 0 (106,536)
 Net loss (2,708,438)(4,161,455)
 Net loss per common share $(.26) $(.42)
 Weighted average number of
 shares outstanding 10,296,812 9,901,592
 CONDENSED BALANCE SHEETS
 Current assets 5,300,891 4,414,118
 Property and other 2,028,255 1,491,028
 Total assets 7,329,146 5,905,146
 Current liabilities 608,284 1,424,692
 Long-term debt 1,513,516 76,045
 Shareholders' equity $5,207,346 $4,404,409
 -0- 9/29/93
 /CONTACT: Brenda Roth of Angeion Corporation, 612-550-9388/
 (ANGN)


CO: Angeion Corporation ST: Minnesota IN: MTC SU: ERN

DS-KH -- MN005 -- 6759 09/29/93 11:02 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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