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INCSTAR REPORTS 55 PERCENT INCREASE IN FOURTH QUARTER EARNINGS

 INCSTAR REPORTS 55 PERCENT INCREASE IN FOURTH QUARTER EARNINGS
 STILLWATER, Minn., Feb. 3 /PRNewswire/ -- INCSTAR Corporation (ASE: ISR) today reported income before extraordinary items of $915,000, or six cents per share, for its fourth quarter ended Dec. 31, 1991, an increase of 55 percent over income before extraordinary items of $592,000, or four cents per share, in last year's fourth quarter. Net sales for the quarter were $10,402,000, an increase of 41 percent over sales of $7,368,000 for the fourth quarter of 1990.
 For the year ended Dec. 31, 1991, income before extraordinary items was $3,756,000, or 23 cents per share, an increase of 90 percent over income before
extraordinary items of $1,974,000, or 13 cents per share in 1990. Net sales for the year were $38,186,000, an increase of


41 percent over sales of $27,003,000 in 1990.
 During the fourth quarter, an extraordinary tax benefit of $319,000 resulting from the utilization of net operating loss carryforwards was offset by a loss of $422,000 resulting from the early retirement of debt. Net income for the quarter was $812,000, or five cents per share, compared with $1,048,000, or seven cents per share, in the fourth quarter of 1990.
 Net income for 1991 was $4,085,000, or 25 cents per share, compared with net income of $2,974,000, or 20 cents per share, in 1990. Extraordinary items accounted for two cents per share in 1991 and seven cents per share in 1990.
 Orwin L. Carter, president and CEO said, "A significant part of our growth in both the fourth quarter and the year came from our Clinical Assays(TM) product line which we began selling in March 1991. Also contributing to our fourth quarter sales growth were the initial sales of a test for ovarian cancer, a product for which we recently obtained distribution rights from Centocor Diagnostics."
 INCSTAR is a Minnesota-based manufacturer and distributor of high quality immunodiagnostic products for health care professionals and manufacturers. The company is an affiliate of the Italian-based Fiat Group (NYSE: FIA).
 INCSTAR CORPORATION
 (Unaudited)
 (Dollars in thousands except per share amounts)
 Three months ended Twelve months ended
 December 31, December 31,
 1991 1990 1991 1990
 Net sales $10,402 $7,368 $38,186 $27,003
 Cost of goods sold 4,851 2,490 16,489 9,048
 Gross profit 5,551 4,878 21,697 17,955
 Operating expenses:
 Selling, general & admin. 3,047 2,653 12,001 10,526
 Research & development 726 725 3,023 2,674
 Total operating expenses 3,773 3,378 15,024 13,200
 Operating income 1,778 1,500 6,673 4,755
 Interest expense (347) (458) (1,551) (1,906)
 Other income 8 33 155 261
 Income before income
 taxes 1,439 1,075 5,277 3,110
 Provision for
 income taxes 524 483 1,521 1,136
 Income before
 extraordinary items 915 592 3,756 1,974
 Extraordinary items:
 Tax benefit from utilization
 of net operating loss
 carryforward 319 456 892 1,000
 Loss on early retirement
 of debt (422) -- (563) --
 Net income $812 $1,048 $4,085 $2,974
 Income per share:
 Before extraordinary items $.06 $.04 $.23 $.13
 Extraordinary items (.01) .03 .02 .07
 Net income per share $.05 $.07 $.25 $.20
 Weighted average shares
 and equivalents 16,226,697 16,001,707 16,203,750 15,064,107
 -0- 2/3/92
 /CONTACT: Jack Falker of Swenson Falker Eilertsen, 612-371-0000, for INCSTAR, or John Booth of INCSTAR, 612-779-1700/
 (ISR) CO: INCSTAR Corporation ST: Minnesota IN: MTC SU: ERN


AL -- MN001 -- 6000 02/03/92 09:03 EST
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