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MINNTECH CORPORATION REPORTS FIRST QUARTER EARNINGS

 MINNEAPOLIS, July 19 /PRNewswire/ -- Minntech Corporation (NASDAQ: MNTX) reported today net earnings of $1,124,000, or $.18 per common share, for the first quarter ended June 30, 1993, compared to net earnings of $1,111,000, or $.17 per common share, for the first quarter of 1992. Revenues for the quarter ended June 30, 1993 were $11,320,000, up 12 percent from revenues of $10,100,000 for the same period last year.
 Dr. Louis C. Cosentino, president and chief executive officer, reported, "Revenues were slightly ahead of plan for the quarter which reflected a moderation in growth of our reprocessing and cardiosurgery products. We were able to maintain our gross margin above 45 percent for the second consecutive quarter. Earnings were impacted by increased research and development expenses associated with our Cathetron(TM) product and legal expenses associated with our litigation. We continue to invest in both new product development and European expansion, and we anticipate results from these investments in the last half of this fiscal year."
 Minntech Corporation is a leading medical device manufacturer with advanced technology in electronics, solutions, fibers and plastics. The company's core technologies are being applied to the businesses of dialysis, reprocessing/sterilants, cardiosurgery and water purification. Minntech Corporation's common stock is traded on the national over-the- counter market under the NASDAQ symbol MNTX.
 MINNTECH CORPORATION
 CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
 (In thousands, except per share amounts)
 (Unaudited)
 Three Months Ended
 6/30/93 6/30/92
 Revenues
 Net sales - products $11,245 $10,025
 Contract revenues 75 75
 Total revenues 11,320 10,100
 Operating costs and expenses
 Cost of product sales 6,095 5,694
 Research and development 730 558
 Selling, general and administrative 2,643 2,102
 Total operating costs and expenses 9,468 8,354
 Earnings from operations 1,852 1,746
 Other income (expense), net (21) (1)
 Earnings before income taxes 1,831 1,745
 Income taxes 707 634
 Net earnings $1,124 $1,111
 Net earnings per share $.18 $.17
 Weighted average common and common
 equivalent shares 6,342 6,524
 -0- 7/19/93
 /CONTACT: Robert M. Rosner, executive vice president and treasurer for Minntech, 612-553-3300/
 (MNTX)


CO: Minntech Corporation ST: Minnesota IN: SU: ERN

KH -- MN023 -- 3236 07/19/93 16:21 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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