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MOCON ANNOUNCES SALES AND EARNINGS FOR SECOND QUARTER

 MINNEAPOLIS, July 20 /PRNewswire/ -- MOCON (Modern Controls, Inc.) (NASDAQ-NMS: MOCO) today announced second quarter sales and earnings for the period ended June 30, 1993.
 Sales for the second quarter were $2,879,000, compared to $3,078,000 for the second quarter of 1992. Net income was $564,000, compared to $637,000 for the second quarter of 1992. Earnings per share decreased to 11 cents per share, compared to 13 cents a share during the second quarter of 1992.
 "Internationally sales are off significantly during the first half of 1993 as compared to previous years and we don't see that changing in the short term," said Chairman William N. Meyer. "Sales of our weighing products are also down as a result of uncertain capital equipment budgets in our pharmaceutical markets. Our prospects and customers are not confident of a strong economic picture in the near future and are delaying equipment expenditures. Although our balance sheet remains strong we are uncertain about revenue growth until we see definitive economic growth both domestically and abroad."
 MOCON is a leading developer, manufacturer and marketer of high technology instrumentation designed to test packages, packaging materials, films and pharmaceutical products. The company employs several patented technologies to measure permeation of various gases, gauge thickness and weight variation during production of materials, and to test for leakage in quality control applications.
 MOCON testing instrumentation is used in research, production, and quality control applications in the food, plastics, medical and pharmaceutical industries.
 MOCON's shares are traded over-the-counter and are listed in the NASDAQ National Market System. The company's electronic NASDAQ trading symbol is MOCO.
 MOCON
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 AND SELECTED BALANCE SHEET INFORMATION
 (In thousands except earnings per share)
 (Unaudited)
 Three Months Ended Six Months Ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Sales $2,879 $3,078 $5,911 $6,800
 Net income $564 $637 $1,190 $1,430
 Earnings per share $.11 $.13 $.24 $.29
 Weighted average shares
 outstanding 4,891 4,914 4,898 4,925
 6/30/93 12/31/92
 Cash and marketable securities $8,542 $10,437
 Current assets 13,209 15,151
 Current liabilities 1,361 1,636
 Deferred taxes 23 23
 Stockholders' equity 12,916 14,614
 Total assets $14,300 $16,273
 -0- 7/20/93
 /CONTACT: Ron Meyer, CFO of MOCON, 612-493-6370/
 (MOCO)


CO: Modern Controls, Inc. ST: Minnesota IN: SU: ERN

KH -- MN008 -- 6745 07/20/93 11:15 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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