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DIANON SYSTEMS, INC. REPORTS FIRST QUARTER SALES AND EARNINGS

 STRATFORD, Conn., May 11 /PRNewswire/ -- Dianon Systems, Inc. (NASDAQ: DIAN) today reported record sales for the first quarter ended March 31, 1993.
 DIANON SYSTEMS, INC.
 Three months ended March 31, 1993 1992 Percent
 Net Sales $8,833,000 $8,048,000 10
 Gross Profit $5,891,000 $4,853,000 21
 percent to Sales 67 pct 60 pct
 Income from Operations $868,000 $528,000 64
 Net Interest Income $30,000 $68,000 -56
 Pre-Tax Income $898,000 $596,000 51
 Provision for Taxes $368,000 $260,000 41
 Net Income $530,000 $336,000 58
 Primary and Fully Diluted
 Earnings Per Share $0.10 $0.06 67
 Compared to first quarter of 1992, sales for the first quarter of 1993 were $8,833,000, up $785,000 or 10 percent; income from operations was $868,000, up $340,000 or 64 percent; net income was $530,000, up $194,000 or 58 percent; and earnings per share were $.10 versus $.06. As previously reported international operating results have been included in reported sales and income from operations since October, 1992.
 In reviewing the Company's financial results, Richard Sandberg, co- chief executive officer, commented, "This quarter's sales increase represents our 38th consecutive quarter-to-quarter increase in revenues. More importantly, the 21 percent increase in gross profit is a good indicator of what sales growth would have been if Diacyte(R) revenues were reported the same way this year as they were last year. Gross profit margins were 67 percent, down slightly from fourth quarter margin of 68 percent, but up sharply from Q1-92 gross profit margin of 60 percent."
 Jack Davis, Dianon's president and Co-CEO, added, "that while we have seen some erosion of our Oncosite(TM) tumor marker business due to competition from "in-office" testing, this has been more than offset by increased market penetration of our Urocyte(R) and Forcyte(R) services and strong growth in the Gynecologic segment. We were pleased by the 64 percent growth in operating income and by the increase in our earnings per share."
 Dianon Systems, headquartered in Stratford, is a leading provider of oncology testing services and diagnostic information to a focused audience of cancer treating physicians and gynecologists in the United States and Europe.
 -0- 5/11/93
 /CONTACT: Richard A. Sandberg, chairman and co-chief executive officer, 203-381-4022, or John P. Davis, president and co-chief executive officer, 203-381-4033, both of Dianon Systems, Inc./
 (DIAN)


CO: Dianon Systems, Inc. ST: Connecticut IN: HEA SU: ERN

LR -- NY084 -- 7204 05/11/93 16:00 EDT
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Publication:PR Newswire
Date:May 11, 1993
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