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BIO-VASCULAR REPORTS HIGHER INCOME IN THIRD QUARTER

 ST. PAUL, Minn., Aug. 24 /PRNewswire/ -- Bio-Vascular, Inc. (NASDAQ: BVAS) today reported that sales for its third quarter ended July 31, 1993, were $1,154,576, an increase from $1,100,598 in the third quarter last year.
 Net income was $258,448, equal to 5 cents per share, up from last year's $179,661, equal to 3 cents per share.
 "Sales of Supple Peri-Guard(R) tissue patches were sharply higher in the quarter, reflecting continued market share gains for this flexible product that was introduced last year," said James F. Lyons, chairman of the board. "The company continues significant research and development spending to broaden and strengthen our product line. For the year to date, the company has increased its investment in research and development nearly fourfold."
 For the nine months, the company's sales were $3,502,039, compared with last year's $3,168,267. Net income was $506,016, equal to 9 cents per share, compared with $460,409, or 8 cents per share, for the nine months 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)
 Three Months Ended Nine Months Ended
 7/31/93 7/31/92 7/31/93 7/31/92
 Net sales $1,154,576 $1,100,598 $3,502,039 $3,168,267
 Cost of sales 444,314 458,342 1,469,025 1,232,196
 Selling, general and
 administrative
 expenses 451,958 493,467 1,557,267 1,579,788
 Research and
 development expenses 46,627 9,511 159,676 41,252
 Income from operations 211,677 139,278 316,071 315,031
 Other income 52,187 46,383 201,464 151,378
 Income before
 income taxes 263,864 185,661 517,535 466,409
 Provision for
 income taxes (5,416) (6,000) (11,519) (6,000)
 Net income 258,448 179,661 506,016 460,409
 Net income per
 common share $.05 $.03 $.09 $.08
 Weighted average
 number of shares
 outstanding 5,612,377 5,553,233 5,658,044 5,553,167
 -0- 8/24/93
 /CONTACT: Curt Swenson of Swenson/Falker Associates, 612-371-0000, for Bio-Vascular; or M. Karen Gilles of Bio-Vascular, 612-631-3529/ CO: Bio-Vascular, Inc. ST: Minnesota IN: MTC SU: ERN


KH-DB -- MN002 -- 5304 08/24/93 08:01 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
Words:389
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