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BALLISTIVET REPORTS FIRST QUARTER RESULTS

 MINNEAPOLIS, May 11 /PRNewswire/ -- BallistiVet, Inc. (NASDAQ: BVET) today announced a net loss of $636,000, equivalent to 13 cents per share, for its first quarter ended Mar. 31, 1993. The results compare with a loss of $468,000, or 10 cents per share, for the first quarter of 1992. Sales for the quarter were $83,000, compared with $45,000 for the same period last year.
 The company attributed the slight improvement in sales to price increases implemented last year, and to its ability to recover a portion of the unit
(dosage) volume lost as a result of the increases. David


Watrud, president and CEO, said, "While the increase in sales is encouraging, it still is substantially below our goals for the business. We will not be satisfied until sales are significantly higher, and we continue to take steps to accomplish that objective."
 BallistiVet is a Minnesota-based company that manufactures and markets products for the cattle health market, which approximates $1 billion in the United States. The company's patented ballistic drug delivery system, which replaces traditional needle and syringe methods, allows inoculation of animals, without restraint, from ranges up to 20 feet using an air-powered rifle.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 BallistiVet, Inc.
 (unaudited)
 Three months ended
 March 31
 1993 1992
 Sales $ 83,000 $ 45,000
 Cost of sales 204,000 129,000
 Research & development 150,000 176,000
 Marketing and sales 126,000 81,000
 General and administrative 245,000 159,000
 Operating loss (642,000) (500,000)
 Interest expense (4,000) (6,000)
 Interest income 11,000 39,000
 Other, net (1,000) (1,000)
 Net loss $(636,000) $(468,000)
 Net loss per common share $ (0.13) $ (0.10)
 Weighted average number of
 common shares outstanding 4,916,927 4,840,153
 CONSOLIDATED BALANCE SHEETS
 (unaudited)
 March 31, December 31,
 1993 1992
 ASSETS
 Cash and short-term investments $1,349,000 $1,917,000
 Inventories 282,000 293,000
 Other current assets 112,000 151,000
 Property, plant and equipment, net 518,000 509,000
 Other assets 0 0
 -- $2,261,000 $2,870,000
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities $239,000 $204,000
 Long-term debt, less
 current maturities 126,000 135,000
 Stockholders' equity
 (deficit) 1,896,000 2,531,000
 -- $2,261,000 $2,870,000
 -0- 5/11/93
 /CONTACT: Jack Falker of Swenson Falker Eilertsen Inc., 612-371-0000, for BallistiVet; or Cathy Leistico of BallistiVet, Inc. 612-784-2076/
 (BVET)


CO: BallistiVet, Inc. ST: Minnesota IN: AGR SU: ERN

DB -- MN017 -- 7249 05/11/93 16:49 EDT
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Publication:PR Newswire
Date:May 11, 1993
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