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DIANON SYSTEMS, INC. REPORTS SECOND QUARTER SALES AND EARNINGS

 STRATFORD, Conn., Aug. 2 /PRNewswire/ -- Dianon Systems, Inc. (NASDAQ: DIAN) today reported sales for the second quarter ended June 30, 1993 were $9,203,000, up $531,000 or 6 percent over the second quarter of 1992. Income from operations was $1,077,000, up $206,000 or 24 percent over the second quarter of 1992. Net income was $622,000, up $74,000 or 14 percent over the second quarter of 1992. Earnings per share were $.12 during the second quarter of 1993, an increase of $.02 or 20 percent from the second quarter of 1992.
 DIANON SYSTEMS, INC.
 Second Quarter 6 Months Year-To-Date
 1993 1992 1993 1992
 (000) (000) Percent (000) (000) Percent
 Net Sales $9,203 $8,672 6 $18,036 $16,719 8
 Gross Profit 6,175 5,461 13 12,066 10,315 17
 Gross Profit
 Margin 67 pct 63 pct 67 pct 62 pct
 Income From
 Operations 1,077 871 24 1,945 1,398 39
 Net Interest
 Income 11 68 (84) 41 137 (70)
 Provision For
 Taxes 466 391 19 834 651 28
 Net Income $ 622 $ 548 14 $ 1,152 $ 884 30
 Primary & Fully
 Diluted Earning
 Per Share $ .12 $ .10 20 $ .22 $ .16 38
 Sales for the first half of 1993 were $18,036,000, up $1,317,000 or 8 percent over the first half of 1992. Income from operations was $1,945,000, up $547,000 or 39 percent over the first half of 1992. Net income was $1,152,000, up $268,000 or 30 percent over the first half of 1992. Earnings per share were $.22 during the first half of 1993, an increase of $.06 or 38 percent from the first half of 1992. 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 A. Sandberg, chairman, said, "This quarter's sales increase represents our 39th consecutive quarter-to-quarter increase in revenues. We were pleased by the 17 percent increase in gross profit during the first half of 1993 despite the fact that the company incurred additional start up costs related to the transition of the Molecular Oncology, Inc. into our Stratford laboratory. This increase in gross profit is a good indicator of what sales growth would have been if tissue testing revenues were reported the same way this year as they were last year."
 Jack Davis, president and co-CEO, added, "During the month of July, we ceased using an outside reference laboratory for our Diacyte(R) prostate cancer testing services and began performing those tests in our Stratford facility. The transition has occurred with minimal difficulty. We expect this change to pose no material adverse consequences to this year's earnings and to improve the profitability of our tissue testing services in 1994."
 DIANON Systems, headquartered in Stratford, Connecticut, is a leading provider of testing services and diagnostic information to a focused audience of cancer treating physicians and gynecologists in the United States and Europe.
 -0- 8/2/93
 /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: MTC SU: ERN

TM -- NY116 -- 8546 08/02/93 17:00 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
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