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NAMIC U.S.A. CORPORATION REPORTS SECOND QUARTER RESULTS

 GLENS FALLS, N.Y., Dec. 23 /PRNewswire/ -- NAMIC U.S.A. Corporation (NASDAQ: NUSA) reports its financial results for the 13 weeks ended Nov. 27, 1992. The company is a manufacturer and marketer of single-patient use medical products.
 (All figures in thousands except per share)
 Thirteen Weeks Ended Twenty-Six Weeks Ended
 27 Nov 92 29 Nov 91 27 Nov 92 29 Nov 91
 Net Sales $13,517 $12,702 $26,622 $24,837
 Operating Income 2,243 2,507 4,241 4,722
 Earnings Before Taxes 2,172 2,171 4,183 3,951
 Net Earnings 1,368 1,368 2,635 2,489
 Earnings per Share 0.15 0.18 0.28 0.34
 Weighted Average
 Common Shares
 Outstanding 9,351 7,196 9,355 6,881
 Net sales for the 13 weeks ended Nov. 27, 1992 were $13.52 million, an increase of $815,000 or 6.4 percent over the comparable period in the 1992 fiscal year. The increase was primarily due to strong sales of closed fluid systems, the Perceptor and MORSE Y-adaptor product lines, and the new Aria Inflation Device and Selector catheter product lines, offset by the effects of price reductions to customers, a planned downsizing of the company's electronics division, a slower rate of procedure growth and slight delays in new product introductions. For the first 26 weeks of fiscal year 1993, net sales grew by 7.2 percent. The company achieved an 11.3 percent sales increase in its core worldwide healthcare business during the 13 and 26 weeks ended Nov. 27, 1992.
 Net earnings for the 13 weeks ended Nov. 27, 1992 were $1.37 million, equal to net earnings in 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 51.4 percent of net sales in the 13 weeks ended Nov. 29, 1991 to 52.2 percent in the current period primarily due to cost reductions. Net earnings were negatively influenced by start-up costs and 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 26 weeks ended Nov. 27, 1992 increased $145,800 or 5.9 percent to $2.64 million compared with the same period last year.
 Chief executive officer Cynthia L. Morris commented, "We continue to be pleased with customer acceptance and sales of our new Aria and Selector product lines, both in the United States and internationally. Our focus continues to be on maintaining market share, increasing sales of new products, sustaining our pace of new product introductions and controlling costs. Sales continue to fall somewhat short of our expectations, primarily due to the cumulative effects of price reductions given to customers in the prior fiscal year. The price reductions were given to preserve market share in an increasingly competitive market for angiography and angioplasty accessories. Please also note that as a result of our initial public offering, there are 30 percent more shares outstanding in this quarter than in the comparable quarter one year ago. Our EPS on last year's weighted average shares outstanding would have been $0.19."
 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 are located in Glens Falls, N.Y. The company's stock is traded on the NASDAQ National Market System under the symbol "NUSA."
 -0- 12/23/92
 /CONTACT: Jeanne Wehnau, investor relations coordinator of NAMIC U.S.A., 518-798-0067/
 (NUSA)


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

KK -- CL003 -- 9477 12/23/92 10:12 EST
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Date:Dec 23, 1992
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