DATASCOPE REPORTS 42 PERCENT RISE IN SECOND QUARTER NET
DATASCOPE REPORTS 42 PERCENT RISE IN SECOND QUARTER NET MONTVALE, N.J., Jan. 22 /PRNewswire/ -- Datascope Corp.
(NASDAQ: DSCP) reported today that net earnings in the second quarter of fiscal 1992 rose 42 percent to $2,647,000 from $1,861,000 in the comparable period last year, equivalent to $.16 per share this year compared with $.12 per share last year on average outstanding shares of 16.48 million and 15.55 million, respectively, after giving effect to a 3-for-1 stock split on Jan. 3, 1992. Consolidated sales increased to $38.8 million, up 17 percent from $33.1 million.
The company noted that the favorable results of the quarter reflect continued gains in its core business composed of its Cardiac Assist and Patient Monitoring divisions. Intra-aortic balloon (IAB) catheter sales continued to grow paced by sales of the company's new 9.5 FR. sheathless balloon catheter. Sales of the new catheter have grown rapidly since its introduction in the first quarter of fiscal 1992. The company said it received 510k clearance from the U.S. Food and Drug Administration (FDA) in October 1991 to market its new PASSPORT(TM) multi-function monitor. Demand for PASSPORT was strong and sales of the new monitor made a significant contribution to sales gains of the Patient Monitoring division. Datascope said that its pre-market approval application for its VasoSeal(TM) product is in the final stage of preparation and would be submitted to the FDA in the current quarter. VasoSeal, announced by the company in April 1991, is the first device that can rapidly seal the arterial puncture created for coronary and peripheral angioplasty, angiography and other of the 4.2 million procedures that require arterial catheterization. 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) Periods ended Three Months Six Months Dec. 31; 1991 1990 1991 1990 Sales $38,800,000 $33,100,000 $70,300,000 $60,700,000 Earnings before taxes 4,072,000 2,819,000 6,264,000 3,620,000 Taxes 1,425,000 958,000 2,192,000 1,238,000 Net earnings 2,647,000 1,861,000 4,072,000 2,382,000 Earnings per share(A) $.16 $.12 $.25 $.15 Average no. of common & common equivalent shares outstanding(A) 16,482,000 15,555,000 16,407,000 15,462,000 (A) -- Adjusted for 3-for-1 stock split issued to shareholders of record on Dec. 6, 1991 and effective Jan. 3, 1992. -0- 1/22/92 /CONTACT: Murray Pitkowsky, chief financial officer of Datascope, 201-307-5504/ (DSCP) CO: Datascope Corporation ST: New Jersey IN: HEA SU: ERN
SM-JT -- NY044 -- 2240 01/22/92 11:25 EST
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|Date:||Jan 22, 1992|
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