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MEDICAL GRAPHICS CORPORATION REPORTS INCREASED FOURTH QUARTER SALES AND EARNINGS, INCREASED 1992 REVENUES

 ST. PAUL, Minn., /PRNewswire/ -- Medical Graphics Corporation (NASDAQ: MGCC) announced today sales of $4.9 million for its fourth quarter ended Dec. 31, 1992, a 19 percent increase above the $4.1 million achieved in the same quarter in 1991. Net earnings for the quarter were $269,727, or $.11 cents per share, an increase from the previous year's fourth quarter earnings of $102,375, or $.04 cents per share.
 Annual sales revenues for 1992 reached a record $17.4 million, a 15 percent increase from 1991 revenues of $15.1 million. Earnings decreased to $660,763, or $.27 cents per share, as compared to $719,234, or $.33 cents per share, reported in 1991.
 The market's eager response to the new product line featuring the MedGraphics patented disposable pneumotach (mouthpiece) was the primary cause of sales growth, with 56 percent of sales coming from those systems which feature the disposable pneumotach. "Our initial investment into our new product line featuring our patented disposable pneumotach and BREEZE software is paying off in increased sales," said Catherine A. Anderson, chairman, president & CEO.
 Although earnings increased in the fourth quarter, total earnings for the year were impacted negatively by delayed FDA market approval of the MedGraphics PF/Dx Pulmonary Function Testing System and a slowdown in international sales related to a component redesign in the second quarter.
 The company also announced today that Michael Griffin, vice president of sales, has left the company to pursue other opportunities. The directors of domestic and international sales will report directly to Anderson. "With this structure, we anticipate continued growth in our core markets," said Anderson, "and it clears the way for expansion into our other markets."
 Medical Graphics Corporation designs, manufactures and markets non- invasive diagnostic systems for the prevention, early detection and cost-effective treatment of heart and lung disease, the leading causes of death and rising health care costs. From its company headquarters in St. Paul, Minnesota and Dusseldorf, Germany, Medical Graphics does business in 30 countries.
 MEDICAL GRAPHICS CORPORATION
 CONSOLIDATED STATEMENTS OF OPERATIONS
 FOURTH QUARTER AND YEAR ENDED 1992
 Three Months Ended Year Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Equipment sales $4,144,250 $3,483,453 $14,610,764 $12,670,642
 Service & supply revenue 715,721 590,277 2,785,151 2,468,600
 Total Revenue 4,859,971 4,073,730 17,395,915 15,139,242
 Cost of equipment
 sales 2,028,718 1,622,692 7,233,639 5,756,619
 Cost of service & supply 319,796 280,402 1,284,983 1,256,846
 Cost of goods sold 2,348,514 1,903,094 8,518,622 7,013,465
 Gross margin on sales 2,511,457 2,170,636 8,877,293 8,125,777
 Gross margin as a
 percent of sales (pct.) 51.7 53.3 51.0 53.7
 Expenses:
 Selling 1,377,578 1,306,860 4,829,173 4,491,455
 Administrative & general 444,078 432,192 1,793,279 1,613,601
 Research & development 305,237 367,575 1,381,253 1,095,282
 -- 2,126,893 2,106,627 8,003,705 7,200,338
 Operating income 384,564 64,009 873,588 925,439
 Net int. income/(exp.) (42,837) 38,366 (175) (21,860)
 Income before
 income taxes 341,727 102,375 873,763 903,579
 Income taxes 72,000 - 213,000 184,345
 Net income $269,727 $102,375 $660,763 $719,234
 Net income per share $0.11 $0.04 $0.27 $0.33
 Weighted average common
 and common equivalent
 shares outstanding 2,437,825 2,554,332 2,468,707 2,198,964
 -0- 2/19/93
 /CONTACT: Catherine A. Anderson, chairman, president and CEO, or Brian King, vice president, finance, both of Medical Graphics, 612-484-4874/
 (MGCC)


CO: Medical Graphics Corporation ST: Minnesota IN: MTC SU: ERN

KH -- MN005 -- 8413 02/19/93 13:07 EST
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Publication:PR Newswire
Date:Feb 19, 1993
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