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MEDAMICUS ANNOUNCES THIRD QUARTER RESULTS

 MEDAMICUS ANNOUNCES THIRD QUARTER RESULTS
 MINNEAPOLIS, Oct. 28 /PRNewswire/ -- MedAmicus, Inc. (NASDAQ: MEDM)


today announced its third quarter and nine month results through Sept. 30, 1992 as follows:
 Three Months Ended Change
 9/30/92 9/30/91 Amount Percent
 Sales $609,688 $534,359 $75,329 14
 Net (loss) $(208,271) $(10,449)$(197,822)(1,893)
 Net (loss) per share $(.08) $(.01) $(.07) --
 Weighted average shares
 and share equivalents
 outstanding 2,590,208 1,523,333 -- --
 Nine Months Ended Change
 9/30/92 9/30/91 Amount Percent
 Sales $1,838,122 $1,035,461 $802,661 77
 Net (loss) $(468,996) $(261,733)$(207,263) (79)
 Net (loss) per share $(.18) $(.19) $.01 --
 Weighted average shares
 and share equivalents
 outstanding 2,590,208 1,346,357 -- --
 The company stated that its third quarter loss was impacted by research and development expenditures, primarily related to its fiber optic pressure transducer, amounting to $132,000 for the quarter ended Sept. 30, 1992, compared to $29,000 in the same quarter last year, and $370,000 for the nine months ended Sept. 30, 1992, compared to $56,000 for the same period in the prior year.
 The company reported that its manufacturing costs increased in the third quarter compared to last year as a result of the company's commitment to implement improvements in manufacturing equipment and processes which in the long-term are expected to increase production capacity and broaden available capabilities. The company also stated that start-up costs associated with new contract manufacturing customers brought on board during the third quarter had a negative impact on gross margins.
 Sales of the company's proprietary vessel introducer to Medtronic, Inc. and to Bard Access Systems, a subsidiary of C.R. Bard, Inc., increased 75 percent for the first nine months of 1992 compared to the same period in 1991 and were comparable in the third quarter ended Sept. 30, 1992 in relation to the same quarter in 1991. These sales results are consistent with the company's expectations, as the company enters its second full year under the distribution agreements with Medtronic and Bard and has filled initial stocking orders. Based on field reports, sales of the vessel introducer by Medtronic and Bard to their customers continue to increase. The company now estimates that over 1,200 hospitals worldwide are using its vessel introducer.
 Contract manufacturing revenue increast?o $143,000 in the third quarter compared to $67,000 in the third quarter of 1991 as a result of the company's efforts to expand this business and utilize excess manufacturing capacity. For the nine months ended Sept. 30, 1992, contract manufacturing sales totalled $359,000 compared to $184,000 in the first nine months of 1991, a 96 percent increase.
 MedAmicus, Inc. is a Plymouth, Minn.-based medical products company engaged in the design, development, manufacture and marketing of disposable vascular access and pressure monitoring devices.
 -0- 10/28/92
 /CONTACT: James Hartman of MedAmicus, 612-559-2613/
 (MEDM) CO: MedAmicus, Inc. ST: Minnesota IN: MTC SU: ERN


AL -- MN019 -- 6019 10/28/92 12:51 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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