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MINNTECH REPORTS 41 PERCENT INCREASE IN FIRST QUARTER EARNINGS

 MINNTECH REPORTS 41 PERCENT INCREASE IN FIRST QUARTER EARNINGS
 MINNEAPOLIS, July 22 /PRNewswire/ -- Minntech Corporation (NASDAQ: MNTX) reported today net earnings of $1,111,000 or $.17 per common share for the quarter ended June 30, 1992, up 41 percent compared to net earnings of $787,000 or $.12 per common share for the first quarter of 1991. Revenues for the quarter ended June 30, 1992, were $10,100,000, up 26 percent from revenues of $8,016,000 for the same period last year.
 Dr. Louis C. Cosentino, president, reported "Quarterly sales exceeded $10 million for the first time -- this is a significant milestone for Minntech. First quarter sales were in line with our forecast. More than half of the revenue increase resulted from increased sales of our hollow fiber oxygenators used in open-heart surgery and marketed by C.R. Bard, Inc. The remaining sales increase resulted from higher sales of hemodialysis concentrate solutions for kidney patients and dialyzer reprocessing products. After-tax profitability was on target at 11 percent of revenues despite continuing manufacturing start-up costs associated with our new high flux dialyzers. High flux dialyzers enable shorter dialysis to be routinely done. Our dialyzer production is now scaling up to meet anticipated demand. We are very pleased with our first quarter results."
 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 business 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 OPERATIONS
 (In thousands, except per share amounts)
 (Unaudited)
 Three Months Ended
 6/30/92 6/30/91
 Revenues
 Net sales - products $10,025 $8,016
 Contract revenues 75 --
 Total revenues 10,100 8,016
 Operating costs and expenses
 Cost of product sales 5,694 4,541
 Research and development 558 543
 Selling, general and administrative 2,102 1,654
 Total operating costs and expenses 8,354 6,738
 Earnings from operations 1,746 1,278
 Other income (expense), net (1) (48)
 Earnings before income taxes 1,745 1,230
 Income taxes 634 443
 Net earnings $1,111 $787
 Net earnings per share $.17 $.12
 Weighted average common and common
 equivalent shares 6,524 6,513
 -0- 7/22/92
 /CONTACT: Robert M. Rosner of Minntech, 612-553-3300/
 (MNTX) CO: Minntech Corporation ST: Minnesota IN: MTC SU: ERN


AL -- MN017 -- 2080 07/22/92 16:00 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
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