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OXBORO MEDICAL INTERNATIONAL REPORTS INCREASED SALES DURING FIRST QUARTER 1992

 OXBORO MEDICAL INTERNATIONAL REPORTS INCREASED SALES
 DURING FIRST QUARTER 1992
 MINNEAPOLIS, Feb. 18 /PRNewswire/ -- Oxboro Medical International (NASDAQ: OMED) today announced continued sales growth for the first quarter ended Dec. 31, 1991. Net sales increased to $690,599 compared to $637,316 reported during the first quarter last year. The company also reported first quarter net income of $144,151, or $.06 per share, compared to net income of $144,585, or $.06 per share, for the comparable reporting period one year ago.
 Increased net sales resulted primarily from the acquisition of new customers, the introduction of new products and increased sales volume to existing customers. Unit sales increased at a higher rate than dollar sales primarily due to the competitiveness of the marketplace as well as the company's emphasis on aggressive expansion of its customer base. Harley Haase, Oxboro's president, noted, "Although the company's volume purchases resulted in decreased raw materials costs during the current period, gross profit margin declined to 74 percent from 77 percent last year due to overall price competition in the marketplace and the company's move to new facilities during the first quarter."
 Oxboro Medical International, Inc., through its wholly owned subsidiary, Oxboro Medical, Inc., develops, manufactures and markets medical and surgical devices and products.
 OXBORO MEDICAL INTERNATIONAL
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
 Three Months Ended
 12/31/91 12/31/90
 Net sales $690,599 $637,316
 Cost of goods sold 180,556 147,699
 Gross margin 510,043 489,617
 Selling, general and
 administrative expenses 295,838 278,943
 Interest and other income 11,383 15,211
 Earnings before income taxes 225,588 225,885
 Income taxes 81,437 81,300
 Net earnings $144,151 $144,585
 Net earnings per common and
 common equivalent shares $.06 $.06
 Weighted average number of
 common and common equivalent
 shares outstanding 2,628,953 2,347,118
 -0- 2/18/92
 /CONTACT: Harley Haase of Oxboro Medical International, 612-755-9516; or Tom de Petra of de Petra & Associates, 612-338-7630, for Oxboro/
 (OMED) CO: Oxboro Medical International, Inc. ST: Minnesota IN: MTC SU: ERN


DS -- MN002 -- 9794 02/18/92 09:36 EST
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Publication:PR Newswire
Date:Feb 18, 1992
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