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MEDEX ANNOUNCES FOURTH QUARTER EARNINGS

 HILLIARD, Ohio, Aug. 24 /PRNewswire/ -- Medex, Inc. (NASDAQ-NMS: MDEX) today reported sales and earnings for the fourth quarter and fiscal year ending June 30, 1993.
 Net income for the fourth quarter was $662,735, or $.11 per primary and fully diluted share, as compared with $2.1 million or $.34 per primary share ($.33 per fully diluted share) in the fourth quarter of fiscal 1992. Fourth quarter net sales were $24.1 million, compared with $24.6 million during the same quarter last year.
 Fourth quarter earnings include the effect of a $1.5 million pre-tax restructuring charge which, based on further analysis of the restructuring costs, exceeded the $1.2 million charge the company estimated in July. This restructuring charge reduced earnings per share for the quarter by approximately $.15.
 Sales for the year were $92.3 million and net income was $4.2 million, or $.69 per primary and fully diluted share. In fiscal 1992, sales were $87.0 million and net income was $6.9 million, or $1.15 per primary share ($1.14 per fully diluted share).
 "Fourth quarter sales reflect continued softness in the hospital market both domestically and abroad," said Phillip Messinger, president and chief executive officer of Medex. "Excluding the effect of the restructuring, we are pleased that operating results have improved each quarter during the past fiscal year. This positive earnings trend reflects declines in our expenses resulting from production efficiencies and continuing cost management practices," Messinger said.
 Messinger said that in fiscal 1994 the company will benefit from the introduction of several new products. He announced that Medex has just received FDA clearance to market TRILOGY(TM), a user-friendly, three- channel infusion pump marketed by Medex Infusion Systems that enables clinicians to use bedside space more efficiently.
 "In the second quarter of fiscal 1994, we are launching TranStar(TM), a redesigned disposable pressure transducer that offers improved performance," Messinger said. "This product will enable Medex to participate more aggressively in the invasive pressure monitoring market."
 Medex designs, manufactures and distributes a wide range of disposable medical products for critical and acute care. Life support products include disposable sets for intravenous fluid and drug administration and invasive pressure monitoring as well as products used in anesthesia, intensive care, cardiac catheterization, oncology and pain management. The company operates subsidiaries in the United States, United Kingdom, Germany and France.
 Medex stock is traded over-the-counter on the NASDAQ National Market System under the MDEX symbol.
 MEDEX, INC.
 Financial Summary
 (Unaudited)
 Three Months Ended
 June 30
 1993 1992
 Net Sales $24,104,267 $24,584,087
 Income Before Taxes $ 863,153 $ 3,299,003
 Income Taxes $ 200,418 $ 1,242,444
 Net Income $ 662,735 $ 2,056,559
 Earnings Per Share
 Primary $ .11 $ .34
 Fully Diluted $ .11 $ .33
 Weighted Average
 Shares Outstanding
 Primary 6,122,484 6,113,727
 Fully Diluted 6,123,895 6,228,792
 Twelve Months Ended
 June 30
 1993 1992
 Net Sales $92,295,439 $87,008,708
 Income Before Taxes $ 6,817,919 $11,364,404
 Income Taxes $ 2,582,418 $ 4,463,444
 Net Income $ 4,235,501 $ 6,900,960
 Earnings Per Share
 Primary $ .69 $ 1.15
 Fully Diluted $ .69 $ 1.14
 Weighted Average
 Shares Outstanding
 Primary 6,151,898 6,019,681
 Fully Diluted 6,152,496 6,079,940
 -0- 8/24/93
 /CONTACT: Phillip D. Messinger of Medex, 614-876-2413/
 (MDEX)


CO: Medex, Inc. ST: Ohio IN: MTC SU: ERN

KL -- CL007 -- 5555 08/24/93 15:55 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
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