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ARROW INTERNATIONAL REPORTS STRONG GROWTH IN FIRST QUARTER SALES AND EARNINGS

 READING, Pa., Dec. 29 /PRNewswire/ -- Arrow International, Inc. announced today a 15.2 percent increase in net sales and a 18.1 percent increase in net income for its first 1993 fiscal year quarter ended Nov. 30, 1992, compared to net sales and normalized net income in the same period last year.
 For the quarter, net sales increased to $33.7 million from $29.2 million, and net income was $4.9 million compared to normalized net income of $4.1 million in the same period last year. Normalized net income in the prior year period excludes $4.4 million in non-recurring income from a patent litigation settlement and a $3.4 million non- recurring after-tax charge related to the adoption of SFAS 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions." Net income in the prior year period, including these non-recurring items, was $5.1 million. Earnings per share in the quarter ended Nov. 30, 1992, were $0.22 compared with $0.24 in the comparable prior year period, which included $0.05 per share from the net effect of the two aforementioned non-recurring items.
 Arrow International's president, Marlin Miller, stated that these results for the quarter are consistent with estimates released at a meeting with security analysts at the company's headquarters on Nov. 6, 1992. At that time Miller indicated that results for the first quarter of fiscal 1993 would be affected by returns from critical care dealers which have now been replaced in several U.S. market areas by the company's direct sales representatives, traditionally heavy marketing costs related to fall medical meetings and product introductions, and the start-up of Arrow France. Also, during the first quarter the company incurred unusually high legal costs associated with its successful defense of a patent infringement suit.
 On Dec. 15, 1992, Arrow mailed to shareholders its Annual Report for its 1992 fiscal year ended Aug. 31. The company's Annual Meeting of Shareholders will be held in Reading at 4 p.m. on Jan. 20, 1993. Arrow International shares are traded in the Over-the-Counter market on the NASDAQ market system under the symbol ARRO.
 ARROW INTERNATIONAL, INC.
 (Unaudited; in thousands, except per share amounts)
 Consolidated Statement of Income Data
 Three months ended Nov. 30 1992 1991
 Net sales $ 33,685 $ 29,228
 Gross profit 17,084 13,951
 Operating expenses:
 Research, development and
 engineering 2,419 1,836
 Selling, general and
 administrative 6,701 5,670
 Total operating expenses 9,120 7,506
 Operating income 7,964 6,445
 Patent litigation
 settlement (income) --- (7,000)
 Income before income taxes
 and cumulative effect of change
 in accounting principle 7,669 13,595
 Provision for income taxes 2,792 5,085
 Income before cumulative effect
 of change in accounting principle 4,877 8,510
 Cumulative effect of change
 in accounting principle --- 3,380
 Net income $4,877 $5,130
 Income per common share
 before cumulative effect of
 change in accounting principle $.22 $.39
 Net income per common share $.22 $.24
 Weighted average shares used
 in computing net income
 per common share 22,355,251 21,802,678
 Consolidated Balance Sheets
 Nov. 30, 1992
 ASSETS
 Cash $7,058
 Receivables (net) 21,915
 Inventories 17,730
 Other current assets 4,394
 Total current assets 51,097
 Property, plant and
 equipment (net) 64,017
 Other assets 6,887
 Total assets $122,001
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current liabilities $23,337
 Long-term debt 4,209
 Accrued postretirement
 benefit obligation 6,225
 Total shareholders' equity 88,230
 Total liabilities
 and shareholders' equity $122,001
 /delval/
 -0- 12/29/92
 /CONTACT: Marlin Miller Jr., president, 215-478-3114, or John H. Broadbent, 215-478-3116, both of Arrow International/
 (ARRO)


CO: Arrow International, Inc. ST: Pennsylvania IN: HEA SU: ERN

CC -- PH016 -- 0431 12/29/92 17:26 EST
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Date:Dec 29, 1992
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