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AVECOR CARDIOVASCULAR REPORTS THIRD QUARTER LOSS

 MINNEAPOLIS, Oct. 28 -- AVECOR Cardiovascular Inc. (NASDAQ: AVEC) today reported a net loss of $196,123, or 4 cents per share, for the three months ended Sept. 30, 1993, compared with a net loss of $76,151, equal to 1 cent per share, for the third quarter of 1992. Net sales were $3,606,471, up 12.5 percent from last year's $3,206,186.
 "Our new state-of-the-art hollow fiber oxygenator is getting an excellent reception in Europe," said Anthony Badolato, president and CEO. "However, these sales increases are partially offset by declining sales for our older products due to fewer open heart procedures and the general slowdown in the medical industry."
 "We have said previously that we expect a loss of more than $1.3 million for the year, mainly reflecting the effects of our two- year, $4 million research and development program to improve and expand our product line. While results so far have been right on target, prevailing market conditions and continued delays in new product approvals by the U.S. Food and Drug Administration could increase the loss to as much as $1.6 million this year and postpone our move to profitability until sometime in 1994."
 For the nine months, the company reported a net loss of $1,332,574, or 21 cents per share, compared with last year's net loss of $39,592, equal to 1 cent per share. Net sales were $10,593,731, compared with last year's $9,042,477.
 AVECOR Cardiovascular Inc., headquartered in Minneapolis, develops, manufactures and markets specialty disposable medical devices for heart/lung bypass surgery and long-term respiratory support. The company's current products include membrane oxygenators, cardiotomy reservoirs and cardioplegia systems.
 AVECOR Cardiovascular Inc.
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Net sales $3,606,471 $3,206,186 $10,593,731 $9,042,477
 Net (loss) (196,123) (76,151) (1,332,574) (39,592)
 Loss) per share $(.04) $(.01) $(.21) $(.01)
 Common and common
 equivalent shares
 outstanding 6,364,425 6,353,350 6,358,684 4,997,699
 -0- 10/28/93
 /CONTACT: Curt Swenson of Swenson/Falker Associates, 612-371-0000 or Norm McGibbon of AVECOR Cardiovascular, 612-559-9504/
 (AVEC)


CO: AVECOR Cardiovascular Inc. ST: Minnesota IN: MTC SU: ERN

DS-AL -- MN017 -- 8128 10/28/93 16:18 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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