BIO-VASCULAR ANNOUNCES FIRST PROFITABLE YEAR
BIO-VASCULAR ANNOUNCES FIRST PROFITABLE YEAR ST. PAUL, Minn., Dec. 11 /PRNewswire/ -- Bio-Vascular, Inc.
(NASDAQ: BVAS), a St. Paul-based company, announced today the first profitable year in the company's history. Sales for the year ended Oct. 31, 1991, were $3,375,507, an increase of 21.8 percent over sales of the previous year of $2,770,654. Net income for the year ended Oct. 31, 1991, was $25,515 and compares to a loss of $179,842 for the year ended Oct. 31, 1990. Income for the year ended Oct. 31, 1991, of $25,515 included an extraordinary gain on the early extinguishment of debt of $59,031.
Bio-Vascular, Inc. is a manufacturer and distributor of proprietary consumable medical products used in cardiac and vascular surgery. Bio- Vascular's common stock is traded on the national over-the-counter market under the symbol BVAS. BIO-VASCULAR, INC. Quarter Ended 10/31/91 10/31/90 Net sales $839,122 $819,023 Net income $49,366 $60,413 Net income per common share -- $.02 Weighted average number of 5,303,837 3,857,650 common shares outstanding Fiscal Year Ended 10/31/91 10/31/90 Net sales $3,375,507 $2,770,654 Net income (loss) $25,515 $(179,842) Net income (loss) per common share -- $(.05) Weighted average number of common shares outstanding 5,264,040 3,793,814 -0- 12/11/91 /CONTACT: John H. Darnall or M. Karen Gilles of Bio-Vascular, 612-631-3529/ (BVAS) CO: Bio-Vascular, Inc ST: Minnesota IN: MTC SU: ERN
KH -- MN011 -- 1485 12/11/91 12:49 EST
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|Date:||Dec 11, 1991|
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