DATASCOPE NET UP 49 PERCENT IN FIRST QUARTER
DATASCOPE NET UP 49 PERCENT IN FIRST QUARTER MONTVALE, N.J., Oct. 21 /PRNewswire/ -- Datascope Corp.
(NASDAQ: DSCP) reported 49 percent higher net earnings in the first quarter of fiscal 1993. Net earnings rose to $2.12 million from $1.43 million in the comparable period last year, equivalent to $0.13 per share this year versus $0.09 last year after adjustment for the 3 for 1 stock split of Jan. 3, 1992. Consolidated sales increased 14 percent to $36 million.
The company attributed its strong operating results to the continued growth of its core business, the Cardiac Assist and Patient Monitoring Divisions. Sales of patient monitors were particularly strong, reflecting the growing contribution of the PASSPORT(TM) portable monitor which has rapidly become the company's fastest growing product since it began shipping in November 1992. Yesterday, the company announced that it had begun marketing the PASSPORT/CO(2)(TM), a new model that adds carbon dioxide monitoring to the multi-function PASSPORT and is believed to be the first of its kind on the market. The company anticipates that it will make a significant contribution to future sales growth beginning in the current quarter. During the first quarter, the company said that it began marketing the System 95, a new, advanced Intra-Aortic Balloon Pump, and noted that customer response to the new system has been very positive. The System 95 begins shipping in quantity in the current quarter. Datascope Corp. is a manufacturer of proprietary products for clinical health care markets in interventional cardiology, anesthesiology and cardiovascular and vascular surgery. DATASCOPE CORP. Summary of Operating Results (Unaudited) Three months ended Sept. 30 1992 1991 Sales $36,000,000 $31,500,000 Earnings before taxes 3,264,000 2,192,000 Taxes 1,142,000 767,000 Net earnings 2,122,000 1,425,000 Earnings per share(A) $0.13 $0.09 Average number of common and common equivalent shares outstanding (A) 16,285,000 16,362,000 (A) Adjusted for 3 for 1 stock split issued to shareholders of record on Dec. 6, 1991 and effective Jan. 3, 1992. -0- 10/21/92 /CONTACT: Murray Pitkowsky, vice president of Datascope Corp., 201-307-5504/ (DSCP) CO: Datascope Corp. ST: New Jersey IN: HEA SU: ERN
SM-OS -- NY019 -- 2708 10/21/92 09:12 EDT
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|Date:||Oct 21, 1992|
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