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 CANNON FALLS, Minn., Nov. 12 /PRNewswire/ -- MediVators, Inc. (NASDAQ: MVAT) announced an increase in revenue of 33 percent in the third quarter ended Sept. 30, 1993, to $633,778 compared to $476,163 in the comparable quarter in 1992. For the first nine months of 1993, revenues increased 53 percent to $2,047,777 compared to $1,340,662 in the comparable period of 1992. The net loss for the third quarter of 1993 was $(406,086) or $(.14) per share as compared to $(291,676) or $(.10) per share in third quarter of 1992.
 The increase in revenue is due to the growth of the MedFab division, which was only beginning operation in the second quarter of 1992 and to strong international sales of disinfectors. "We are awaiting FDA clearance of the DSD-91, a dual scope disinfector that we expect will replace the current disinfector," stated Donald L. Sturtevant, president and CEO.
 Research and development expenditures increased from $87,140 in the third quarter of 1992 to $164,170 in the third quarter of 1993. Research and development expenditures were $652,457 for the first nine months of 1993, a 357 percent increase over the comparable period in 1992. The MediFlex and Disposal Sciences subsidiaries accounted for approximately 80 percent of the 1993 research and development expenses. Disposal Sciences has generated only minor sales of the current sharps disposal system, which is designed primarily for lower volume users. A prototype of a larger capacity sharps disposal unit has been developed and is undergoing clinical evaluation. "MediFlex continues to make progress on its microprocessor-controlled articulation technology for endoscopic products licensed from Stanford University," stated Sturtevant.
 Today, MediVators closed on the sale of 100,100 shares of its Series B 10 percent Cumulative Redeemable Convertible Common Stock, convertible at any time into three shares of MediVators Common Stock, $.01 par value ("Common Stock"), plus two warrants each to purchase one share of common stock at $5.00 per share. Net proceeds to MediVators from the sale were approximately $500,000. "The company is attempting to secure additional financing in order to continue to improve our cash position and to fund the activities of MediFlex and Disposal Sciences," stated Sturtevant.
 MediVators designs, manufactures and markets endoscopic disinfection equipment and supplies. MedFab, a division of MediVators, Inc., provides precision plastics machining and fabrication services to a variety of customers. Disposal Sciences is a wholly owned subsidiary that manufactures and market a sharps disposal system. MediFlex is an 80 percent owned subsidiary that is developing applications of articulation technology licensed from Stanford University.
 Consolidated Statements of Operations
 Three Months Ended Nine Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Net sales $633,778 $476,163 $2,047,777 $1,340,662
 Cost of sales 475,271 322,712 1,356,912 840,233
 Gross profit 158,507 153,451 690,865 500,429
 Selling, general and
 administrative 424,793 407,850 1,173,923 1,181,235
 Research and development 164,170 87,140 652,457 182,707
 Interest (income) expense,
 net (11,951) (49,863) (19,182) (77,568)
 Minority interest in
 losses of subsidiary (12,419) -- (57,535) --
 -- 564,593 445,127 1,749,663 1,286,374
 Net (loss) $(406,086) $(291,676)$(1,058,798) $(785,945)
 Net (loss) per share $(.14) $(.10) $(.37) $(.28)
 Weighted average common
 shares outstanding 2,846,494 2,846,494 2,846,494 2,846,494
 Summary Consolidated Balance Sheet
 Cash and cash equivalents $146,593
 Other current assets 2,330,160
 Property and equipment 712,860
 Other assets 292,764
 -- $3,482,377
 Current liabilities 561,188
 Minority interest 4,381
 Stockholders equity 2,916,808
 -- $3,482,377
 -0- 11/12/93
 /CONTACT: Curtis D. Luebke, chairman of the board, or Donald L. Sturtevant, president and CEO, of MediVators, 507-263-4721/

CO: MediVators, Inc. ST: Minnesota IN: SU: ERN

DB-KH -- MN021 -- 3965 11/12/93 18:44 EST
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Publication:PR Newswire
Date:Nov 12, 1993

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