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DIONEX REPORTS RESULTS FOR FOURTH FISCAL QUARTER AND FULL YEAR

 DIONEX REPORTS RESULTS FOR FOURTH FISCAL QUARTER AND FULL YEAR
 SUNNYVALE, Calif., July 23 /PRNewswire/ -- Dionex Corp. (NASDAQ: DNEX) today announced revenues and earnings for its fourth fiscal quarter and year ended June 30, 1992.
 Sales for the fourth quarter were $25,736,000, a 12 percent increase over the $22,910,000 reported in the same period last year. Had currency rates been the same as in last year's fourth quarter, sales growth would have been 11 percent. Net income was $3,951,000, compared with net income of $3,799,000 in the fourth quarter of fiscal 1991. Earnings per share were $.48 for the most recent quarter, up from $.45 in last year's fourth quarter.
 For the 12 months ended June 30, 1992, sales reached $96,380,000, up 8 percent from fiscal 1991 sales of $89,326,000. If currency rates had remained the same as the previous fiscal year, sales growth would have been 9 percent.
 Net income for the year reached $14,741,000, or $1.78 per share, a 5 percent increase in earnings per share over the previous fiscal year. Net income was adversely affected by substantially reduced interest income during the year, attributable to reduced yields on invested cash. Net income and earnings per share reflect the company's ongoing stock repurchase programs, under which Dionex repurchased 284,600 shares of common stock during fiscal 1992. Last year, the company repurchased 749,000 shares.
 A. Blaine Bowman, Dionex president and chief executive officer, commenting on the results, said, "Our results in fiscal 1992 reflect solid progress for Dionex. We once again set new records for both sales and earnings. Sales growth during the year was particularly strong in selected international markets within Europe, the Pacific Basin, and certain emerging markets. We're encouraged that growth in the important North American market improved significantly in the second half of the fiscal year. Based on this and our solid performance in 1992, we are enthusiastic as we enter fiscal 1993."
 Dionex Corp. is a leading manufacturer and marketer of chromatography systems for chemical analysis. The company's systems are used in environmental analysis and by the chemicals, petrochemicals, life sciences, power generation and electronics industries in a wide variety of applications.
 DIONEX CORP.
 Consolidated Statements of Income
 (In thousands except per share amounts)
 Three Months Ended Twelve Months Ended
 June 30 June 30
 (Unaudited)
 1992 1991 1992 1991
 Net sales $25,736 $22,910 $96,380 $89,326
 Cost of sales 8,045 6,812 30,504 28,344
 Gross profit 17,691 16,098 65,876 60,982
 Operating expenses:
 Selling, general and
 administrative 9,901 9,012 37,144 34,556
 Research and product
 development 2,271 1,862 8,251 7,524
 Total operating expenses 12,172 10,874 45,395 42,080
 Operating income 5,519 5,224 20,481 18,902
 Interest income, net 513 621 2,024 2,884
 Income before taxes on income 6,032 5,845 22,505 21,786
 Taxes on income 2,081 2,046 7,764 7,625
 Net income $ 3,951 $ 3,799 $14,741 $14,161
 Net income per common and
 equivalent share $.48 $.45 $1.78 $1.69
 Common and equivalent
 shares used in computing per
 share amounts 8,254 8,402 8,290 8,382
 -0- 7/23/92
 /CONTACT: Eric J. Keller of Dionex, 408-481-4106/
 (DNEX) CO: Dionex Corp. ST: California IN: CHM SU: ERN


DG-RM -- SJ008 -- 2735 07/23/92 16:57 EDT
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Date:Jul 23, 1992
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