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DANNINGER MEDICAL TECHNOLOGY, INC. ANNOUNCES HIGHER FIRST QUARTER EARNINGS

 DANNINGER MEDICAL TECHNOLOGY, INC.
 ANNOUNCES HIGHER FIRST QUARTER EARNINGS
 COLUMBUS, Ohio, May 4 /PRNewswire/ -- Danninger Medical Technology, Inc. (NASDAQ: DANN) today announced net income of $155,311 for the three months ended March 31, 1992, compared to $107,912 a year ago. Earnings per share for the first three months of 1992 were 3 cents compared to 2 cents for the same period last year. Total revenues for the first quarter of 1992 rose to $2,115,131. Recovery product revenues for the first three months of 1992 were bolstered by increased sales of earlier Danniflex(TM) models as well as recently announced lease specialty devices.
 Research and development expenditures totaled $244,417, or 12 percent of total revenues for the first quarter of 1992. Significant efforts are underway to further broaden Danninger's line of Continuous Passive Motion devices. Products for the elbow, shoulder, wrist and ankle are under development and will likely be introduced within the next year.
 Substantial investment also continues to be made in medical devices for the spine. Cross Medical Products, Inc., a wholly owned subsidiary, is proceeding with the Puno/Winter/Byrd Pedicle Screw System, subject to an FDA Investigational Device Exemption. Cross received FDA 510(k) clearance during April 1992 to proceed to market with its lumbosacral system.
 Joseph A. Mussey, president, commented, "We are encouraged by the results for the first quarter of 1992. Initiatives which were implemented last year will contribute to increased profitability as the year progresses. The specialty dealer program for Danninger products will become a more significant part of future growth."
 Danninger Medical Technology, Inc. designs, manufactures and markets medical devices that assist patients in their recovery following surgery or trauma. Danninger is a leader in Continuous Passive Motion devices for the knee, hip and hand. Cross Medical Prodcuts, Inc., a wholly owned subsidiary of Danninger, manufactures and markets orthopedic surgical instrumentation, a 510(k) lumbosacral system and a spinal implant subject to an FDA Investigational Device Exemption.
 FINANCIAL HIGHLIGHTS
 Three Months Ended Three Months Ended
 March 31, 1992 March 31, 1991
 Sales, Lease &
 Rental Revenue $2,115,132 $2,005,341
 Net Income 155,311 107,912
 Earnings Per Share .03 .02
 March 31, 1992 Dec. 31, 1991
 Total Assets $7,196,995 $6,955,027
 Working Capital $3,054,879 $3,386,279
 Shareholders' Equity $3,900,507 $3,745,193
 -0- 5/4/92
 /CONTACT: John Jenkins, chief financial officer of Danninger Medical, 614-276-8267/
 (DANN) CO: Danninger Medical Technology, Inc. ST: Ohio IN: MTC SU: ERN


KK -- CL016 -- 5949 05/04/92 10:53 EDT
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Publication:PR Newswire
Date:May 4, 1992
Words:429
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