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INTERMAGNETICS GENERAL REPORTS CONTINUING PROFIT IMPROVEMENT

 INTERMAGNETICS GENERAL REPORTS CONTINUING PROFIT IMPROVEMENT
 GUILDERLAND, N.Y., Dec. 18 /PRNewswire/ -- Intermagnetics General Corporation (IGC) (NASDAQ: INMA) today reported earnings for the second quarter which resulted in substantially higher earnings for the six month period ended Nov. 24, 1991.
 Second quarter income climbed 75 percent to $1,044,000 or 14 cents per


share from $518,000 or eight cents per share for the same period last year. Net sales for the quarter were $14,305,000 compared to $16,080,000 for the comparable period of the prior year.
 For the first half of fiscal year 1992, net income climbed over 100 percent to $2,163,000 or 29 cents per share from $922,000 or 14 cents per share for the initial six months of fiscal 1991. These improved results were achieved while net sales were off by eight percent to $28,473,000 from $30,984,000 for the comparable prior year period.
 In announcing the results, Carl H. Rosner, IGC's president, stated, "Earnings for the six month period are the highest ever achieved by IGC even though marketing, general and administrative expenses include a charge of approximately $300,000 for expenses associated with the proposed convertible subordinated debenture issue which was withdrawn due to market conditions." Rosner went on to comment "the decline in year-to-date sales principally reflects lower MRI magnet requirements. Sales of materials and cryogenics were moderately higher. Gross margins improved significantly in spite of the reduced levels of sales, due mainly to improved manufacturing efficiencies." He concluded, "The year appears to shape up to be the best ever in profitability but not in revenues, due to lower near-term customer forecasts and the long lead times required for most of our products, including new products under development."
 Intermagnetics General, as a leading manufacturer of superconducting magnets, wire and associated ultra-low temperature refrigeration equipment, especially those used in medical diagnostic imaging systems, is dedicated to the development and commercialization of applied superconducting systems. The company also produces permanent magnet systems and materials separation devices.
 INTERMAGNETICS GENERAL CORPORATION
 Consolidated Statements of Income
 (Dollars in thousands, except per share amounts)
 Three Months Six Months
 Periods ended 11/24/91 11/25/90 11/24/91 11/25/90
 Net sales $14,305 $16,080 $28,473 $30,984
 Costs & Expenses:
 Cost of products sold 9,766 12,871 19,676 24,734
 Product R&D 496 237 999 485
 Marketing, general
 & administrative 2,755 2,142 5,081 4,149
 Total 13,017 15,250 25,756 29,368
 Operating income 1,288 830 2,717 1,616
 Interest & other income 140 153 243 270
 Interest expense (284) (394) (542) (843)
 Income before income taxes 1,144 589 2,418 1,043
 Provision for income taxes 100 71 255 121
 Net income 1,044 518 2,163 922
 Per share $.14 $.08 $.29 $.14
 Primary shares 7,397,485 6,819,417 7,360,034 6,774,035
 -0- 12/18/91
 /CONTACT: Carl H. Rosner, president of IGC, 518-456-5456/
 (INMA) CO: Intermagnetics General Corporation ST: New York IN: SU: ERN


SM-JT -- NY047 -- 3455 12/18/91 13:21 EST
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Date:Dec 18, 1991
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