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MENTOR REPORTS SECOND QUARTER RESULTS

 SANTA BARBARA, Calif., Oct. 21 /PRNewswire/ -- Mentor Corp. (NASDAQ: MNTR) today reported net income of $2.6 million, or $0.24 per share for the second quarter ended Sept. 30, 1993, compared to $2.9 million, or $0.27 per share last year, a decrease of 11 percent.
 Sales for the second quarter were $29.3 million, compared to $28.6 million last year, an increase of 3 percent.
 For the six-month year-to-date ended Sept. 30, sales were $60.4 million, an increase of 7 percent over sales of $56.3 million last year. Net income for the six-month period was $4.9 million, or $0.46 per share, compared to $5.5 million and $0.51 per share last year, a decrease of 10 percent.
 During the second quarter the company enjoyed strong sales growth in ophthalmology, and modest gains in urology. These increases were offset by a decrease in plastic surgery sales compared to the similar period a year ago. Sales of saline-filled breast implants increased by 15 percent over last year, but sales of gel-filled implants decreased significantly, the company said.
 Net income for the quarter was in line with expectations, the company said, in view of the higher expenses associated with the consolidation of manufacturing operations which is taking place this year, along with higher R&D expenses due to multiple PMA applications under way.
 Mentor Corp. produces medical and surgical devices for the specialties of urology, plastic surgery and ophthalmology.
 MENTOR CORP.
 Consolidated Statements of Income
 (In thousands, except per share data)
 For the three months ended
 Sept. 30,
 1993 1992
 Net sales $29,329 $28,608
 Cost and expenses
 Cost of sales 10,175 9,241
 Selling, general and
 administrative 12,518 12,678
 Research and development 2,086 1,561
 Total 24,779 23,480
 Operating income 4,550 5,128
 Interest expense (725) (643)
 Interest income 72 105
 Other (expense) income 0 (76)
 Income before income taxes 3,897 4,514
 Income tax expense 1,311 1,599
 Net income $2,586 $2,915
 Earnings Per Share
 Primary $0.24 $0.27
 Fully Diluted $0.23 $0.26
 Average common shares
 outstanding 10,766 10,823
 For the six months ended
 Sept. 30,
 1993 1992
 Net sales $60,357 $56,333
 Cost and expenses
 Cost of sales 20,375 18,854
 Selling, general and
 administrative 26,645 24,760
 Research and development 4,491 2,945
 Total 51,511 46,559
 Operating income 8,846 9,774
 Interest expense (1,421) (1,208)
 Interest income 142 196
 Other (expense) income 0 (199)
 Income before income taxes 7,567 8,563
 Income tax expense 2,641 3,041
 Net income $4,926 $5,522
 Earnings per share
 Primary $0.46 $0.51
 Fully diluted $0.45 $0.49
 Average common shares
 outstanding 10,736 10,753
 -0- 10/21/93
 /CONTACT: Christopher J. Conway, chairman of Mentor, 805-681-6000; or William F. Coffin of Coffin Communications Group, 818-578-0500/
 (MNTR)


CO: Mentor Corp. ST: California IN: HEA SU: ERN

NY-JL -- LA009 -- 4973 10/21/93 08:32 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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