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MOLECULAR DYNAMICS REPORTS FIRST QUARTER 1993 RESULTS

 SUNNYVALE, Calif., April 26 /PRNewswire/ -- Molecular Dynamics Inc. (NASDAQ: MDYN), a leading international developer, manufacturer and marketer of high-performance image acquisition and analysis instrumentation for the life science research market, today announced financial results for the first quarter ended April 4, 1993.
 Sales for the first quarter increased 49 percent to $8,613,000, compared to $5,763,000 reported in the prior-year period. Income before tax increased 106 percent to $1,075,000 compared to $522,000 in the prior-year period. Net income for the quarter increased 56 percent to $755,000, compared to net income of $485,000, in the prior-year period. The effective tax rate for the first quarter of 1993 was 30 percent compared to 7 percent in 1992. Earnings per share were eight cents in the first quarter of 1993, compared to seven cents in the first quarter of 1992. Average shares outstanding in the first quarter of 1993 were 9.7 million, compared to 7.2 million in the first quarter of 1992.
 "We are extremely pleased by the acceptance of our advanced imaging products by the world life sciences research community," said Jay Flatley, Molecular Dynamics president and chief operating officer. He added that, "The initial response to our new PhosphorImager SF(TM), a lower-cost version of the Model 425 PhosphorImager(TM), targeted at small research groups and individual researchers, has been excellent."
 Headquartered in Sunnyvale, Molecular Dynamics is a leading manufacturer of advanced image acquisition and analysis instrumentation for the life sciences research market. The company's products are marketed worldwide through direct, subsidiary and independent distributor sales organizations.
 MOLECULAR DYNAMICS INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (In thousands, except per-share data)
 Three Months Ended
 April 4, March 29,
 1993 1992
 Net sales $ 8,613 $ 5,763
 Cost of sales 3,567 2,351
 Gross profit 5,046 3,412
 Operating expenses:
 Selling, general and administrative 3,156 2,155
 Res ?development 958 744
 Total operating expenses 4,114 2,899
 Income from operations 932 513
 Other income/(expense):
 Interest income, net 171 5
 Other income/(expense) (28) 4
 Total other income/(expense) 143 9
 Income before provision for
 income taxes 1,075 522
 Provision for income taxes 320 37
 Net income $ 755 $ 485
 Earnings per share $ 0.08 $ 0.07
 Weighted average common and
 common equivalent shares
 outstanding 9,704 7,199
 Condensed Consolidated Balance Sheets
 (In thousands)
 April 4, Jan. 3,
 1993 1993
 ASSETS
 Current assets:
 Cash & short-term investments $26,013 $ 7,467
 Accounts receivable 6,101 5,914
 Inventories 4,403 3,776
 Prepaid expenses and other 307 326
 Total current assets 36,824 17,483
 Property and equipment:
 At cost net of accumulated depreciation
 and amortization of $1,444 in April 1993,
 and $1,261 in January 1993 1,902 1,815
 Other assets 1,524 1,422
 Total assets $40,250 $20,720
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities:
 Accounts payable $ 1,979 $ 1,346
 Accrued liabilities 2,728 2,262
 Total current liabilities 4,707 3,608
 Other liabilities 88 74
 Stockholders' equity:
 Common stock and additional
 paid-in capital 36,889 19,157
 Accumulated deficit (1,364) (2,119)
 Cumulative translation adjustment (70) ---
 Total stockholders' equity 35,455 17,038
 Total liabilities and stockholders'
 equity $40,250 $20,720
 -0- 4/26/93
 /CONTACT: Stephen R. Bennion, chief financial officer of Molecular Dynamics, 408-737-3002/
 (MDYN)


CO: Molecular Dynamics Inc. ST: California IN: CPR MTC SU: ERN

GT-SG -- SJ002 -- 0903 04/26/93 16:00 EDT
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Date:Apr 26, 1993
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