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OXBORO MEDICAL ANNOUNCES EARNINGS

 MINNEAPOLIS, Dec. 18 /PRNewswire/ -- Oxboro Medical International, Inc. (NASDAQ: OMED), through it wholly owned subsidiary, Oxboro Medical, Inc., is engaged exclusively in the business of developing, manufacturing and marketing medical and surgical products. The company is based in suburban Minneapolis and the stock is traded on the National Association of Security Dealers Small-Cap Market (NASDAQ) under the symbol OMED.
 Net sales increased 17 percent in fiscal 1992. The increases resulted from a combination of new customers, increased volume and introduction of new products.
 Selling, general and administrative expenses for fiscal 1992 remained essentially flat even with a sales increase of 17 percent.
 Net income increased 490 percent in fiscal 1992 as a result of higher sales, decreased cost of manufacturing, decreased general and administrative costs as a percent of sales and the negative impact in fiscal 1991 of a one-time charge for the settlement of a law suit.
 During 1992 the company introduced four new products and continues to place a high priority on the development of new products. Also, the company completed construction of its new corporate offices, production and distribution facilities in Ham Lake, Minn. The facility is expandable to accommodate growth and was paid for by cash generated from operations.
 OXBORO MEDICAL INTERNATIONAL, INC.
 Year Ended
 9/30/92 9/30/91
 Revenue $3,117,443 $2,663,313
 Percent change 17.1 --
 Net income $652,948 $110,671
 Percent change 490.0 --
 Net/share income $.25 $.05
 Weighted average common
 shares outstanding 2,628,903 2,474,709
 -0- 12/18/92
 /CONTACT: Harley Haase of Oxboro Medical, 612-755-9516/
 (OMED)


CO: Oxboro Medical International, Inc. ST: Minnesota IN: MTC SU: ERN

AL -- MN011 -- 8461 12/18/92 18:45 EST
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Publication:PR Newswire
Date:Dec 18, 1992
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