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MENTOR REPORTS RECORD SALES FOR THIRD QUARTER

 MENTOR REPORTS RECORD SALES FOR THIRD QUARTER
 SANTA BARBARA, Calif., Jan. 10 /PRNewswire/ -- Mentor Corp.


(NASDAQ: MNTR) today announced record sales of $24.2 million for the three months ended Dec. 31, 1991, compared to $21.2 million for the third quarter last year, an increase of 14 percent.
 Net income for the quarter was $1,261,000, or $0.12 per share, compared to $1,474,000, or $0.14 per share last year.
 Sales for the nine-month period were $67.4 million, an increase of 24 percent over $54.2 million last year. Net income for the period was $4,084,000, or $0.38 per share, compared to $4,707,000 or $0.43 per share for the nine-month period last year.
 The company achieved its strongest sales growth for the quarter in its urology market sector. Urology implant sales reached record levels, increasing 60 percent over third quarter last year, whileducts increas ed y 22 percent. Although plastic surgery sales were slowed by the controversy over silicone gel breast implants, sales for the nine-month period were 12 percent higher than last year, and increased by 10 percent in the third quarter.
 The company's earnings have been adversely affected this year by the high costs of meeting constantly changing FDA regulatory requirements with respect to breast implant approvals.
 "The moratorium on silicone gel breast implants will likely have an adverse effect on fourth quarter results," said Christopher J. Conway, chairman of Mentor. "This will be offset to some extent by the considerable increase in demand we are seeing for our saline- filled implants, which are an available alternative to the gel-filled products.
 "Our underlying business continues to grow at a healthy rate," said Conway. "When the FDA completes its current reviews we can trim expenses and begin to recover our historical return on sales."
 Mentor Corp. produces medical and surgical devices for the specialities of urology, ophthalmology and plastic surgery.
 MENTOR CORPORATION
 Consolidated Statements of Income
 (in thousands, except per share data)
 For the 3 months For the 9 months ended
 ended Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Net sales $24,179 $21,180 $67,414 $54,163
 Cost and
 expenses
 Cost of sales 10,155 8,669 26,996 21,048
 Selling,
 general and
 administrative 9,902 8,515 28,112 20,836
 Research and
 development 1,630 1,464 4,666 3,401
 Total 21,687 18,648 59,774 45,285
 Operating
 income 2,492 2,532 7,640 8,878
 Interest
 expense (554) (580) (1,683) (1,604)
 Interest income 82 400 425 1,295
 Other (expense)
 income (79) (73) (230) (1,382)
 Income before
 income taxes 1,941 2,279 6,152 7,187
 Income taxes 680 805 2,068 2,480
 Net income $1,261 $1,474 $4,084 $4,707
 Net income
 per share $0.12 $0.14 $0.38 $0.43
 Dividends
 per share $0.04 $0.04 $0.12 $0.12
 Average shares
 outstanding 10,709 10,680 10,839 10,826
 -0- 1/10/92
 /CONTACT: Christopher J. Conway of Mentor Corp., 805-681-6000/
 (MNTR) CO: Mentor Corporation ST: California IN: MTC SU: ERN


DM-CH -- LA008 -- 8692 01/10/92 14:41 EST
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Publication:PR Newswire
Date:Jan 10, 1992
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