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MEDICAL GRAPHICS REPORTS BEST YEAR EVER, RECORD FOURTH QUARTER SALES

MEDICAL GRAPHICS REPORTS BEST YEAR EVER, RECORD FOURTH QUARTER SALES
 ST. PAUL, Minn., Feb. 12 /PRNewswire/ -- Medical Graphics Corporation (NASDAQ: MGCC) today announced record sales of $4.1 million for its fourth quarter ended Dec. 31, 1991, up 18 percent from sales of $3.5 million for the same quarter in 1990. Net earnings for the most recent quarter were $102,375, or 4 cents per share, down from the previous year's quarter in which they were $124,981 or 7 cents per share. In an earlier press release Catherine A. Anderson, company chairman, president and CEO, said the delay in FDA market clearance of the company's complete, portable pulmonary function testing laboratory, the PF/Dx, held up shipment in the U.S. Although the system was shipped for sale internationally, margins are somewhat higher in domestic markets. The company had announced Monday, Feb. 10, that it received FDA marketing clearance and that domestic shipments would begin immediately.
 Medical Graphics achieved record sales and earnings for the 1991 year, its best performance ever. Revenues reached $15.1 million, up 19 percent from 1990 revenues of $12.7 million. 1991 net earnings rose to $719,234 or 33 cents per share, up 79 percent over the $400,936 or 22 cents per share reported in 1990. Gross margins as a percent of sales were 53.7 percent, up from 1990 margins of 53.5 percent.
 Anderson concluded, "We're extremely pleased with 1991 results and performance. We achieved the highest growth rate and strongest balance sheet in our industry, significantly increased shareholder value, introduced to the pulmonary market the only complete pulmonary diagnostic systems that provide true infection control, and emerged as a leader in the cardiology market. We're confident that now, with a full complement of products based on innovative technology and disposable patient-contact components, we will continue the momentum we established last year."
 Medical Graphics Corporation develops computerized non-invasive cardiorespiratory diagnostic and monitoring systems for the early diagnosis, treatment and prevention of heart and lung disease. Since its founding in 1977, the company has pioneered every major technological breakthrough in cardiorespiratory diagnostics. With headquarters in St. Paul, Minnesota and Dusseldorf, Germany, Medical Graphics does business in more than 30 countries around the world.
 MEDICAL GRAPHICS CORPORATION
 CONSOLIDATED STATEMENTS OF OPERATIONS
 FOURTH QUARTER AND YEAR ENDED 1991
 Three-Months Ended Year Ended
 Dec. 31 Dec. 31
 1991 1990 1991 1990
 Equipment sales $3,483,453 $2,894,454 $12,670,642 $10,476,025
 Service and supply
 revenue 590,277 565,352 2,468,600 2,256,820
 Total revenue 4,073,730 3,459,806 15,139,242 12,732,845
 Cost of equipment sales 1,622,692 1,284,603 5,756,619 4,706,011
 Cost of service and
 supply 280,402 327,210 1,256,846 1,217,824
 Cost of products and
 services 1,903,094 1,611,813 7,013,465 5,923,835
 Gross margin on
 sales 2,170,636 1,847,993 8,125,777 6,809,010
 Gross margin as a
 percent of sales (pct.) 53.3 53.4 53.7 53.5
 Expenses:
 Selling 1,306,86 1,140,282 4,491,455 3,884,665
 Administrative and
 general 432,192 376,812 1,613,601 1,437,414
 Research and
 development 367,575 148,181 1,095,282 935,205
 -- 2,106,627 1,665,275 7,200,338 6,257,284
 Net operating income 64,009 182,718 925,439 551,726
 Net interest (income)
 expense (38,366) 9,737 21,860 102,790
 Income before income
 taxes and extraordinary
 credit 102,375 172,981 903,579 448,936
 Income taxes - 56,177 184,345 150,000
 Income before
 extraordinary credit 102,375 116,804 719,234 298,936
 Extraordinary credit:
 Tax loss carry forward - 8,177 - 102,000
 Net income $102,375 $124,981 $719,234 $400,936
 Net income per share
 before extraordinary
 credit $.04 $.06 $.33 $.16
 Extraordinary credit
 per share -- .01 -- .06
 Net income per share $.04 $.07 $.33 $.22
 Weighted average common
 and common equivalent
 shares outstanding 2,554,332 1,802,223 2,198,964 1,801,600
 -0- 2/12/92
 /CONTACT: Brian King or Catherine Anderson, 612-484-4874, both of Medical Graphics/
 (MGCC) CO: Medical Graphics Corporation ST: Minnesota IN: MTC SU: ERN


AL -- MN025 -- 9469 02/12/92 17:54 EST
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Date:Feb 12, 1992
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