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ENDOTRONICS, INC. ANNOUNCES RESULTS FOR THE THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1992

 ENDOTRONICS, INC. ANNOUNCES RESULTS FOR THE THIRD QUARTER
 AND NINE MONTHS ENDED JUNE 30, 1992
 MINNEAPOLIS, Aug. 20 /PRNewswire/ -- Endotronics, Inc. (NASDAQ: ENDO) today reported results for its third quarter and nine months ended June 30, 1992. Third-quarter revenues of approximately $795,000 were down compared to prior-year revenues of $1,419,000. The company incurred a net loss of about $681,000 or ($0.03 per share) compared with a net loss of $271,000 or ($0.01 per share) in the third quarter last year.
 For the nine months, revenues of $2,835,000 declined compared with revenues of $3,179,000 reported last year. Net loss for the nine-month period increased slightly to $1,489,000 or ($0.08 per share) compared to a net loss of $1,327,000 or ($0.07 per share) for 1991.
 Richard E. Sakowicz, Endotronics' president and chief operating officer, said, "While domestic sales remain strong, we did not receive instrument sales revenues from our European and Japanese distributors during the third quarter. This is not an unusual situation as these distributors often purchase stocking orders for instruments in bulk quantity, resulting in an irregular pattern of orders through the year. Our Japanese instrument sales have also been negatively impacted by the economic downturn in Japan."
 Sakowicz noted that, "Endotronics continues to make solid progress toward its goal of expanding the depth and breadth of its cell culture lines -- steps necessary to achieve the critical mass needed to grow and achieve consistent profitability." On June 30, 1992, the company purchased the OPTICELL(TM) Cell Culture System product line from Charles River Laboratories, a subsidiary of Bausch & Lomb. This product line uses cell culture technology complementary to Endotronics' ACUSYST(R) hollow fiber technology, and enables Endotronics to offer customers alternative cell culturing technologies for its existing customer base, as well as allowing the company to enter new markets such as the large vaccine market.
 Sakowicz went on to say, "We continue to make substantial progress on our collaborative project with the University of Minnesota to develop a Bio-Artificial Liver (BAL) device. This system would serve as a bridge device for patients with acute liver injury, as well as those awaiting a liver transplant. During the quarter, we put together a world-class scientific advisory board of physicians and scientists from outside the University of Minnesota to provide guidance to the BAL team and also increased activity relating to our pre-clinical studies, an important step leading to human clinical trials."
 Additionally, during the quarter, Endotronics received a $2 million line of credit from the Bank of Bloomfield Hills, Bloomfield Hills, Mich. The line of credit is secured by a three-year $2 million letter of credit from Swiss Credit Bank obtained by INTEGRA Holding AG of Switzerland, a significant shareholder of the company.
 Endotronics, Inc., headquartered in Minneapolis, is dedicated to providing cell processing products and services to meet the emerging needs of human health care and biotechnology markets worldwide.
 ENDOTRONICS, INC.
 Condensed Statements of Operations
 (Unaudited; in thousands, except per-share amounts)
 For the Three Months For the Nine Months
 Ended June 30, Ended June 30,
 1992 1991 1992 1991
 Revenues $795 $1,419 $2,835 $3,179
 Operating loss ($617) ($220) ($1,361) ($1,142)
 Net loss ($681) ($271) ($1,489) ($1,327)
 Net loss per common share ($0.03) ($0.01) ($0.08) ($0.07)
 Weighted average no. of
 common shares
 outstanding 20,482 18,509 19,568 17,721
 -0- 8/20/92
 /CONTACT: Yvonne L. Marschner-Bova, director, investor relations, Endotronics, Inc., 313-871-7350/
 (ENDO) CO: Endotronics, Inc. ST: Minnesota IN: MTC SU: ERN


JG-ML -- DE008 -- 1663 08/20/92 11:23 EDT
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Date:Aug 20, 1992
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