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BIO-VASCULAR REPORTS 2ND QUARTER RESULTS

 ST. PAUL, Minn., May 24 /PRNewswire/ -- Bio-Vascular, Inc. (NASDAQ:BVAS) today reported net sales of $1,197,893 for its second quarter ended April 30, 1993, up slightly from sales of $1,174,534 for the second quarter of last year.
 Net income was $115,348, equal to 2 cents per share, compared with $219,072, or 4 cents per share, in the year-ago quarter.
 "Although international sales registered a strong increase, it was a difficult quarter in the United States, where domestic sales declined slightly," said James F. Lyons, chairman of the board. "The medical marketplace is being impacted by the uncertainty surrounding the proposed national healthcare plan, causing sales to move at an uneven pace.


Nevertheless, two products -- the Dardik Biograft(R) and Peri-

Guard(R) tissue patches -- had major increases in sales. Margins were somewhat lower, reflecting both lower average selling prices and changes in the product mix. While we are disappointed with the quarter, we expect that results for the year will be on plan."
 For the six months, the company reported net sales of $2,345,463, up 13.5 percent from last year's $2,067,669. Net income was $265,304, or 5 cents per share, compared with $280,748, also 5 cents per share, last year.
 Bio-Vascular, Inc., based in St. Paul, is a manufacturer and marketer of proprietary consumable medical products for cardiac and vascular surgery.
 BIO-VASCULAR, INC.
 (Unaudited)
 3 months ended 6 months ended
 4/30/93 4/30/92 4/30/93 4/30/92
 Net sales $1,197,893 $1,174,534 $2,347,463 $2,067,669
 Cost of sales 516,368 430,413 1,006,975 773,854
 Selling, general and
 administrative
 expenses 614,901 575,519 1,218,358 1,118,062
 Income from
 operations 66,624 168,602 122,130 175,753
 Other income 51,299 50,470 149,277 104,995
 Income before
 income taxes 117,923 219,072 271,407 280,748
 Provision for
 income taxes (2,575) -- (6,103) --
 Net income 115,348 219,072 265,304 280,748
 Net income per
 common share $.02 $.04 $.05 $.05
 Weighted average
 number of shares
 outstanding 5,599,498 5,556,525 5,633,786 5,552,022
 -0- 5/24/93
 /CONTACT: Curt Swenson of Swenson Falker Eilertsen, 612-371-0000, for Bio-Vascular; or M. Karen Gilles of Bio-Vascular, 612-631-3529/
 (BVAS)


CO: Bio-Vascular ST: Minnesota IN: MEA SU: ERN

DB -- MN019 -- 1866 05/24/93 16:39 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 24, 1993
Words:413
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