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NAMIC U.S.A. CORPORATION (NUSA) REPORTS THIRD QUARTER RESULTS

 GLENS FALLS, N.Y., March 23 /PRNewswire/ -- NAMIC U.S.A. Corporation (NASDAQ: NUSA) reports its financial results for the thirteen weeks ended Feb. 26, 1993. The company is a manufacturer and marketer of single-patient use medical products for cardiovascular applications.
 (All figures unaudited and in thousands except per share)
 Thirteen Weeks Ended Thirty-nine Weeks Ended
 26-Feb-93 28-Feb-92 26-Feb-93 28-Feb-92
 Net Sales $13,046 $13,343 $39,669 $38,180
 Gross Profit 6,823 6,896 20,741 19,593
 Operating Income 2,764 2,594 7,005 7,316
 Earnings Before Taxes 2,727 2,656 6,910 6,608
 Net Earnings 1,718 1,674 4,353 4,163
 Earnings per Share 0.18 0.18 0.47 0.52
 Weighted average Common
 Shares Outstanding 9,306 9,449 9,342 7,761
 Net sales for the thirteen weeks ended Feb. 26, 1993 were $13.05 million, a decrease of $297,000 or 2.2 percent from the comparable period in the 1992 fiscal year. The decrease was primarily due to a planned downsizing of the company's electronics division, cumulative effects of price reductions to customers, and slight delays in new product introductions. These effects were partially offset by strong sales of closed fluid systems, the Perceptor and MORSE Y-adapter product lines, the new Aria Inflation Device and the Selector catheter product lines. The company achieved a sales increase of $188,900 or 1.5 percent in its worldwide healthcare business during the period. For the first 39 weeks of fiscal year 1993, the company's net sales grew by $1.49 million or 3.9 percent, with healthcare sales growing by $2.86 million or 7.9 percent.
 Net earnings for the thirteen weeks ended Feb. 26, 1993 were $1.72 million, an increase of $45,000 or 2.7 percent over the comparable period last fiscal year. Net earnings were positively influenced by an improvement in the company's gross profit margin as a percent of sales from 51.7 percent in the thirteen weeks ended Feb. 28, 1992 to 52.3 percent in the current period primarily due to cost reductions. Net earnings were negatively influenced by operating expenses of NAMIC Caribe (f/k/a Novoste Puerto Rico Inc.), which have not yet been completely offset by increases in sales of the products acquired from Novoste. Net earnings for the 39 weeks ended Feb. 26, 1993 were up $190,400 or 4.6 percent to $4.35 million compared with the same period last year.
 Chief Executive Officer Cynthia L. Morris comments, "We've been faced with intense competition since the first of this fiscal year. We've spent much more time defending our established positions this year than in any year past, which means we've had proportionally less time to promote new products. In spite of this, we set a new corporate sales record in the month of February, as well as new high-marks for the Selector, Aria and Epic product lines. It's still too early to tell how strong our recovery will be during the fourth quarter, but we see signs of improvement that we believe will manifest in our next fiscal year."
 NAMIC U.S.A. Corporation designs, manufactures and markets a broad range of single-patient use medical products used in angiography and angioplasty. Hospital customers in North America are served by a direct sales force and elsewhere by medical products distributors. Corporate headquarters is located in Glens Falls, N.Y. The company's stock is traded on the NASDAQ National Market System under the symbol "NUSA."
 -0- 3/23/93
 /CONTACT: Jeanne Wehnau, investor relations coordinator, NAMIC U.S.A. Corporation, 518-798-0067/
 (NUSA)


CO: NAMIC U.S.A. Corporation ST: New York IN: MTC SU: ERN

LC -- CL013 -- 8860 03/23/93 17:34 EST
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Date:Mar 23, 1993
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