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GELMAN SCIENCES REPORTS RECORD SALES AND EARNINGS FOR FISCAL YEAR ENDED JULY 31

 ANN ARBOR, Mich., Sept. 8 /PRNewswire/ -- Gelman Sciences Inc. (AMEX: GSC) today reported that net sales and earnings for its fiscal year ended July 31, 1993, reached record highs. Company Chairman and Chief Executive Officer, Charles Gelman, said he was pleased with the new, positive directions of the Company, and that orders look strong for the first half of the new fiscal year. During the last half of fiscal year 1993, the Company began accepting orders for several new intravenous fluid filtration products introduced for use in the home health care market and hospitals. Gelman Sciences intravenous filter sales increased over 32 percent worldwide in fiscal year 1993.
 Fiscal year 1993 net earnings reached a record high of $2.7 million or $1.06 per share versus a net loss of $1.2 million of $.48 per share for the prior year. The net loss in fiscal 1992 included an environmental cleanup accrual of $1.01 per share and a product liability lawsuit settlement of $.14 per share. Net sales for the year also reached a record high of $86.2 million, up 6 percent from the prior year's $81.5 million.
 Charles Gelman credits strengthened earnings to improved gross margin, which was achieved primarily by improvements in operations, controlled costs and productivity gains in almost every area of the Company. "It is encouraging to note that there is still significant opportunity for margin improvements and productivity gains in our operations," said Gelman. "We will continue to strengthen our continuous process improvement and employee involvement programs."
 In fiscal 1993, Laboratory Product sales, the Company's largest worldwide business segment, increased 12 percent. Medical Device sales increased 13 percent, as Microporous Membrane sales increased 24 percent and Process Product sales rose 3 percent. Sales in the U.S. increased 13 percent. Outside the U.S., sales decreased 4 percent, negatively affected by non-core business operations in Australia and changing currency rates.
 For the fourth quarter of fiscal 1993, net sales were $22.8 million, up 7 percent over the prior year's fourth quarter. Net earnings were $794,000 or $.31 per share, an increase of 25 percent, as compared with $634,000 or $.25 per share for the prior year. The strengthening of the dollar against European currency has negatively impacted the comparison of the quarters. Earnings, without the effect of foreign currency fluctuation, would have increased by 86 percent for the quarter.
 During fiscal 1993, the Company achieved ISO (International Standards Organization) Quality Certification for its primary manufacturing facility in Ann Arbor, and for its Australian and the United Kingdom subsidiary operations. ISO Certification is a recognized and fast-growing worldwide quality standard. Other areas of the Company worldwide are expecting ISO Certification later this year. During the fourth quarter of fiscal 1993, Kim A. Davis was appointed President and Chief Operating Officer.
 Gelman Sciences, headquartered in Ann Arbor, Mich., is a leading manufacturer of microfiltration products used in laboratory research, high technology process industries and the medical health care field.
 Fourth Quarter Ended 12 Months Ended
 July 31 July 31
 1993 1992 1993 1992
 Net Sales $22,808,000 $21,335,000 $86,209,000 $81,460,000
 Earnings (Loss)
 Before Extra-
 ordinary Item $794,000 $634,000 $2,702,000 ($859,000)
 Extraordinary
 Item --- --- --- ($352,000)(1)
 Net Earnings
 (Loss) $794,000 $634,000 $2,702,000 ($1,211,000)
 Earnings (Loss)
 Per Share Before
 Extraordinary Item $.31 $.25 $1.06 ($.34)
 Earnings (Loss)
 Per Share $.31 $.25 $1.06 ($.48)
 Weighted Average
 Shares 2,574,238 2,519,991 2,543,827 2,516,333
 (1) -- The extraordinary item in fiscal year 1992 resulted from a product liability settlement of $558,000 before tax.
 -0- 9/8/93
 /CONTACT: Robert L. Buker, V.P., Corporate Communications, or James J. Fahrner, Chief Financial Officer & V.P., Finance, Gelman Sciences Inc., 313-665-0651/
 (GSC)


CO: Gelman Sciences Inc. ST: Michigan IN: MTC SU: ERN

ML-SB -- DE006 -- 9734 09/08/93 10:40 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
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