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DIONEX REPORTS RESULTS FOR THE FIRST FISCAL QUARTER

 SUNNYVALE, Calif., Oct. 14 /PRNewswire/ -- Dionex Corp. (OTC: DNEX) today announced revenues and earnings for its first fiscal quarter ended Sept. 30, 1993.
 Sales for the first quarter were $25,462,000, a 2 percent increase over the $25,062,000 reported in the same period last year. Had currency rates been the same as in last year's first quarter, sales growth would have been 5 percent. Net income was $3,379,000 compared with net income of $3,506,000 in the first quarter of fiscal 1993. Earnings per share were 44 cents, up from 43 cents in last year's first quarter. Net income and earnings per share reflect the company's ongoing stock repurchase programs under which Dionex repurchased 50,999 shares of common stock during the first quarter of fiscal 1994. During fiscal 1993, the company repurchased 588,200 shares.
 "Our first quarter sales reflect the weak market for chromatography systems in Western Europe, as well as the impact of the strengthening U.S. dollar," said A. Blain Bowman, Dionex president and chief executive officer. "Our lower sales in Europe were offset, however, by increasing sales in both the Pacific Basin and, to a lesser extent, North America. Looking forward, we are cautiously optimistic about the possibility for an improving market in North America. Moreover, we are encouraged by the favorable market response to our new DX 500 system that was introduced in September."
 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
 Sept. 30
 (unaudited)
 1993 1992
 Net sales $25,462 $25,062
 Cost of sales 8,146 7,836
 Gross profit 17,316 17,226
 Operating expenses:
 Selling, general and administrative 9,773 10,139
 Research and product development 2,598 2,148
 Total operating expenses 12,371 12,287
 Operating income 4,945 4,939
 Interest income 357 539
 Interest expense 104 125
 Income before taxes on income 5,198 5,353
 Taxes on income 1,819 1,847
 Net income $3,379 $3,506
 Net income per common and
 equivalent share $0.44 $0.43
 Weighted average common and
 equivalent shares outstanding 7,739 8,170
 -0- 10/14/93
 /CONTACT: Barbara J. Posch of Dionex Corp., 408-481-4107/
 (DNEX)


CO: Dionex Corp. ST: California IN: CHM SU: ERN

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Publication:PR Newswire
Date:Oct 14, 1993
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