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NAMIC U.S.A. ANNOUNCES THIRD-QUARTER PERFORMANCE

 NAMIC U.S.A. ANNOUNCES THIRD-QUARTER PERFORMANCE
 GLENS FALLS, N.Y., March 10 /PRNewswire/ -- Third-quarter results


were reported today by NAMIC U.S.A. Corporation (NASDAQ-NMS: NUSA), a manufacturer and marketer of single-patient use medical products. For the 13-week period ended Feb. 28, 1992, the company posted record sales and record earnings.
 "It's been a busy three months since our initial public offering," commented Chief Executive Officer Cynthia L. Morris. "Prior to the offering, we have been advised that our first year as a public company would be a critical one. We maintained close control of the business in spite of the demands of the IPO process, which is reflected in our healthy third quarter results."
 Net sales for the 13 weeks ended Feb. 28, 1992, were a record $13.34 million, an increase of $2.13 million or 19 percent over the comparable period in the 1991 fiscal year. Continued growth in core product lines and the company's new Perceptor product lines contributed to sales achievement. The company's subsidiary, NAMIC International, also influenced corporate growth positively as a result of increased distributor training and support. Sales growth was offset slightly by a planned decrease of $169,600 in revenue of 25.9 percent from the company's electronic systems division. The decline in sales of this division is a direct result of a downsizing program substantially completed in November 1991. For the first 39 weeks of fiscal 1992, net sales grew by $5.98 million or 18.6 percent to $38.18 million.
 Net earnings for the 13 weeks ended Feb. 28, 1992, were a record $1.67 million, an increase of $347,200 or 26.2 percent over the comparable period last fiscal year. Earnings after provision for income taxes but before extraordinary item, however, were up $882,700 or 96.7 percent. The difference between these two growth rates is solely attributable to the effects of a tax net operating loss carryfoward used in the comparable period in fiscal 1991. Net earnings for the 39 weeks ended Feb. 28, 1992, were up $956,300 or 29.8 percent to $4.16 million compared with the same period last year. Earnings before the extraordinary item increased by $1.66 million or 66.1 percent. Both 13- and 39-week earnings were favorably influenced by improvements in gross profit and economies of scale in selling, general and administrative expenditures.
 "We continue our due diligence investigation and negotiations with Novoste Puerto Rico, Inc. Novoste's diagnostic cardiovascular catheters and angioplasty guiding catheters could be an important addition to the product lines we currently sell. If we are not able to reach an agreement with Novoste, we fell very confident we'll be able to continue sales and earnings growth with existing products and several significant new products," Morris stated.
 NAMIC U.S.A. Corporation designs, manufactures and markets a broad range of single-patient use medical products. Provided individually or in customized kits, the company's products are used by physicians and allied staff for fluid administration, waste containment and pressure monitoring during angiography and angioplasty. Hospital customers in the United States are served by a nationwide direct sales force and outside the United States by medical products distributors. Corporate headquarters and manufacturing operations are located in Glens Falls.
 NAMIC U.S.A. CORPORATION
 (In thousands, except per-share data; unaudited)
 13 weeks 39 weeks
 2/28/92 3/1/91 2/28/92 3/1/91
 Net sales $13,343 $11,215 $38,180 $32,205
 Gross profit 6,896 5,524 19,593 15,893
 Operating income 2,594 1,818 7,316 5,305
 Earns. bef. inc.
 taxes & extraord.
 item 2,656 1,362 6,608 4,009
 Earnings bef.
 extraord. item 1,674 851 4,163 2,506
 Net earnings 1,674 1,326 4,163 3,207
 Earnings per share:
 Earnings bef.
 extraord. item $.18 $.12 $.52 $.36
 Extraord. item -- .07 -- .11
 Net earnings .18 .19 .52 .47
 Weighted avg. com.
 shares outstng. 9,449 6,581 7,761 6,738
 -0- 3/10/92
 /CONTACT: Cynthia L. Morris, CEO of NAMIC U.S.A., 518-798-0067/
 (NUSA) CO: NAMIC U.S.A. Corporation ST: New York IN: MTC SU: ERN


CK-AK -- NY077 -- 7119 03/10/92 19:02 EST
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Date:Mar 10, 1992
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