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MOCON ANNOUNCES SALES AND EARNINGS FOR THIRD QUARTER

 MINNEAPOLIS, Oct. 21 /PRNewswire/ -- MOCON (Modern Controls, Inc.) (NASDAQ: MOCO) today announced third quarter sales and earnings for the period ended Sept. 30, 1993.
 Sales of the third quarter were $2,218,000 compared to $2,982,000 for the third quarter of 1992. Net income was $339,000 or 7 cents per share, compared to $603,000 or 12 cents a share for the third quarter of 1992.
 "Sales are off significantly in Japan and Europe compared to the prior year," said Chairman William N. Mayer, "We are working hard on profitability and are maintaining our strong balance sheet in the face of uncertain revenue growth. We expect domestic sales to continue to be sluggish as long as capital equipment budgets remain tight. Sales internationally are not yet showing signs of improvement. Management is continuing to work on ways of improving the company's current revenue prospects and is also exploring other avenues of growth."
 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
 Unaudited
 (in thousands except earnings per share)
 Three Months Ended Nine Months Ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Sales $2,218 $2,982 $8,129 $9,782
 Net income $339 $603 $1,529 $2,033
 Earnings per share $.07 $.12 $.31 $.41
 Weighted average
 shares outstanding 4,878 4,898 4,891 4,916
 9/30/93 12/31/92
 Cash and Marketable securities $8,900 $10,437
 Current assets 13,172 15,151
 Current liabilities 1,213 1,636
 Deferred taxes 23 23
 Stockholders' equity 13,012 14,614
 Total assets $14,248 $16,273
 /NOTE TO EDITORS: MOCON is a registered trademark of Modern Controls, Inc./
 -0- 10/21/93
 /CONTACT: Ron Meyer, CFO of MOCON, 612-493-6370/
 (MOCO)


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

DS-DB -- MN001 -- 5006 10/21/93 09:10 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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