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ENDOTRONICS REPORTS FOURTH-QUARTER AND FISCAL 1992 YEAR-END RESULTS

 MINNEAPOLIS, Jan. 19 /PRNewswire/ -- Endotronics, Inc. (NASDAQ: ENDO) today announced operating results for the fourth quarter and fiscal year ended Sept. 30, 1992. For the quarter, the company reported a net loss of approximately $422,000 or ($0.02) per share, compared with net income of $110,000, less than one cent per share, during the same quarter last year. Sales totaled $1,360,000 compared with $1,529,000 in the 1991 fourth quarter. For the fiscal year, the company reported a loss of $1,911,000 or ($0.10) per share, in comparison to a loss of $1,217,000 or ($0.07) per share for the prior year. Sales totaled $4,195,000 in 1992 compared to $4,707,000 in 1991.
 A record increase in domestic sales was partially offset by a decline in international instruments and disposable product sales due to fewer exports to Europe and Japan. Sales were also positively impacted by growing contract production of mammalian cells, an area initiated in the third quarter of fiscal 1991.
 "Endotronics made tremendous progress towards the implementation of its strategic plan. We reshaped Endotronics into a premier cell culture company supplying the pharmaceutical and biotechnology marketplace with a broader set of mammalian cell culture manufacturing solutions," said Richard E. Sakowicz, Endotronics' president and chief operating officer. "We have become a multi-technology diversified product and services cell culture company through the addition of two new cell culture technologies and several new cell culture service offerings in 1992. The addition of the OPTICELL(TM) product line and the agreement to market the Wheaton stirred tank system significantly strengthens our position in the growing therapeutic biotech market and allows the company to participate in the large vaccine market -- a new market for the company. These technological applications are allowing Endotronics to expand its presence and reach the entire biotechnology market. We also initiated actions to expand our contract production services of monoclonal antibodies for therapeutic purposes, which has resulted in a number of companies committing their biotech product manufacturing to Endotronics' technology."
 Sakowicz went on to say: "The National Institutes of Health, which funds the National Cell Culture Center at Endotronics, enjoyed another successful year meeting all of its 1992 objectives and servicing the needs of over 40 research institutions throughout the U.S. Through our cooperative agreement with Helixys, Inc., we introduced a family of cell-derived products named HeLaPure(TM). HeLaPure is currently being marketed to investigators in the biomedical research community for the study of cancer, gene expression and viral research. We also made substantial progress on our collaborative project with the University of Minnesota to develop a Bio-Artificial Liver (BAL) device. During the year, we put together a world-class 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 preclinical studies, an important step leading to human clinical trials."
 Subsequent to year-end, Endotronics announced that it signed a cooperative agreement with Tecnomara AG of Switzerland, whereby Tecnomara will have exclusive worldwide rights to manufacture and market the ACUMOUSE(TM) cell culture system for use in the area of research. The agreement provides Endotronics with an initial fee of $1.5 million and ongoing royalties from future sales of the ACUMOUSE product.
 ENDOTRONICS, INC.
 CONDENSED STATEMENTS OF OPERATIONS
 (Unaudited and in thousands, except per-share amounts)
 Three Months Ended Years Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Operating revenues $1,360 $1,529 $ 4,195 $ 4,707
 Operating (loss) income $ (287) $ 147 $(1,594) $ (981)
 Net (loss) income $ (422) $ 110 $(1,911) $(1,217)
 Net (loss) income
 per common share $(0.02) --- $ (0.10) $ (0.07)
 Weighted average number
 of common shares
 outstanding 20,660 18,547 19,989 17,912
 NOTE: Amounts for the years ended Sept. 30, 1992, and 1991 are derived from the audited financial statements for those dates.
 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. The company is a recognized industry leader in mammalian cell culture instrumentation with more than 800 instruments sold worldwide.
 -0- 1/19/93
 /CONTACT: Yvonne L. Marschner-Bova, director, Investor Relations, Endotronics, Inc., 313-871-7350/
 (ENDO)


CO: Endotronics, Inc. ST: Minnesota IN: MTC SU: ERN

JG-SB -- DE014 -- 6304 01/19/93 11:43 EST
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Date:Jan 19, 1993
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