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EVEREST MEDICAL REPORTS RECORD FIRST QUARTER RESULTS; INTRODUCES NEXT GENERATION BIPOLAR SCISSORS

 MINNEAPOLIS, April 19 /PRNewswire/ -- Everest Medical Corporation (NASDAQ: EVMD) today announced its results for the first quarter. Sales for the quarter were $1,107,872, an increase of 61% over first quarter l993. Net loss for the quarter was $301,715, or $.06 per share, a significant reduction from $618,683, or $.12 per share, in the same quarter last year.
 "We are pleased to announce record quarterly results for the Company," said John L. Shannon Jr., President and Chief Executive Officer of Everest Medical. "The sales growth in this quarter is due to a significant increase in shipments of bipolar forceps to Ethicon Endo-surgery, a division of Johnson & Johnson, as well as improved sales of EVERSHEARS(TM) Bipolar Scissors. During the quarter, Ethicon launched the bipolar forceps domestically. The first quarter sales do reflect Ethicon's inventory build for this introduction," said Mr. Shannon. "We are optimistic regarding Ethicon's ability to gain market share with this product in the second quarter."
 In addition, the Company announced that it recently introduced the EVERSHEARS(TM) II Laparoscopic Bipolar Scissors at the Society of American Gastrointestinal Endoscopic Surgeons ("SAGES") Meeting in Orlando. "The proprietary EVERSHEARS II is our second bipolar scissors," said Mr. Shannon. "Its unique patent-pending design makes inherently safer bipolar technology virtually transparent to the laparoscopic surgeon." The Company expects commercial shipments to commence in the third quarter 1994.
 Everest Medical is a leading developer, manufacturer and marketer of bipolar electrosurgery instrumentation for minimally invasive surgery markets. Everest Medical common stock is traded on the NASDAQ over-the-counter market under the symbol EVMD.
 EVEREST MEDICAL CORPORATION
 Results of Operations
 First Quarter ended March 31 1994 1993
 Net sales $1,107,872 $688,393
 Net income ($301,715) ($618,683)
 EPS ($0.06) ($0.12)
 Wgt Ave Shares 5,661,980 5,068,030
 Condensed Balance Sheet
 March 31 Dec. 31
 1994 1993
 Current assets $2,609,034 $2,810,483
 Other assets $654,725 $651,950
 Total assets $3,263,759 $3,462,433
 Current liabilities $1,170,658 $1,071,048
 Long-term liabilities $964,112 $993,739
 Shareholders' Equity $1,128,989 $1,397,646
 Total Liabilities
 & Shareholders' Equity $3,263,759 $3,462,433
 -0- 4/19/94
 /CONTACT: John L. Shannon Jr. of Everest Medical Corporation, 612-473-6262/
 (EVMD)


CO: Everest Medical Corporation ST: Minnesota IN: MTC SU: ERN

TM -- NY133 -- 7238 04/19/94 19:05 EDT
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Publication:PR Newswire
Date:Apr 19, 1994
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