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ENDOGEN, INC. ANNOUNCES FIRST QUARTER RESULTS

 BOSTON, Oct. 18 /PRNewswire/ -- Endogen, Inc. (OTC: ENDG) announced today that revenues for the first quarter ended Aug. 31, 1993 increased 36 percent to $784,100 compared to $576,603 for the first quarter one year ago. Revenues increased as a result of continued strong demand for the company's products, in particular human and mouse EIA test kits.
 The company initiated expansion programs in the areas of product development and sales and marketing by adding senior officers and staff. Consistent with projections, the company operated on essentially a break- even basis, with a net loss of $(2,065) or $(0.00) per share for the first quarter ended Aug. 31, 1993 vs. net income of $39,752 or 3 cents per share for the comparable quarter one year ago. Net book value per share, based on the outstanding shares of the company's common stock, was $1.30 for the first quarter and was $1.31 on May 31, 1993, the end of the company's fiscal year.
 "We are committed to building one of the world's leading companies in the supply of advanced products for biomedical research," said Owen Dempsey, president and CEO. "Endogen recently introduced two new EIA test kits and eight new research biologicals and plans on continuing the consistent introduction of additional innovative products in the coming year."
 Endogen, Inc. is a leading developer, manufacturer and supplier of specialty research products and immuno-assay test kits to the growing biomedical research market. The company's products are used by scientists in search of treatments and cures to immunological diseases such as cancer and AIDS. Endogen markets three principal product lines worldwide, consisting of over 120 specialty reagents and 19 immuno-assay test kits.
 ENDOGEN, INC.
 Condensed Statement of Operations
 Three months ended
 August 31, August 31,
 1992 1993
 (Unaudited) (Unaudited)
 Revenue
 Product sales $576,603 $784,100
 Costs and operating
 expenses:
 Cost of sales 202,536 234,470
 Selling & marketing 77,414 162,233
 General & administrative 138,127 231,939
 Research & development 114,412 169,217
 Total 532,489 797,859
 Income (loss) from
 operations 44,114 (13,759)
 Interest inc. (expense),
 net (4,362) 11,694
 Net income (loss) $39,752 $(2,065)
 Net inc. (loss) per share 3 cents $(0.00)
 Weighted avg. shares
 outstnd. 1,319,124 2,565,226
 Condensed Balance Sheet
 August 31, May 31,
 1993 1993
 (Unaudited)
 Assets
 Cash and cash equivalents $2,382,657 $2,583,738
 Accounts receivable, net 442,480 404,384
 Inventory and other current
 assets 615,597 542,920
 Property, plant and
 equipment, net 263,233 253,811
 Other assets 361,050 219,100
 Total $4,065,017 $4,003,953
 Liabilities and Stockholders'
 Equity
 Current liabilities $628,975 $566,299
 Long-term debt 68,973 82,501
 Stockholders' equity 3,367,069 3,355,153
 Total $4,065,017 $4,003,953
 -0- 10/18/93
 /CONTACT: Owen A. Dempsey, president and CEO of Endogen, 617-439-3250/
 (ENDG)


CO: Endogen, Inc. ST: Massachusetts IN: MTC SU: ERN

SJ-DJ -- NE026 -- 3616 10/18/93 17:30 EDT
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Publication:PR Newswire
Date:Oct 18, 1993
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