Printer Friendly

POSSIS CORPORATION REPORTS FIRST QUARTER RESULTS

 MINNEAPOLIS, Dec. 2 /PRNewswire/ -- Possis Corporation (NASDAQ-NMS: POSS) announced today its results for its fiscal first quarter ended Oct. 31, 1993.
 Three Months Ended
 10/31/93 10/31/92
 Revenues $2,094,000 $1,728,000
 Loss continuing operations (166,000) (203,000)
 Income discontinued operations (a) 70,000 97,000
 Net loss $(96,000) $(106,000)
 Share earnings
 Loss continuing operations (.02) (.02)
 Income discontinued operations .01 .01
 Net loss $(.01) $(.01)
 (a) Discontinued operations include Jet Edge, Inc., its industrial equipment subsidiary and Technical Services, its temporary technical personnel business which was sold in 1991.
 First quarter total revenue increased 21 percent with medical products up 13 percent and patent royalty revenue up 40 percent from last year. Initial graft sales to Europe were made during the quarter. The large royalty revenue increase results from a low amount in last year's first quarter. Manufacturing start-up expenses and increased U.S. clinical trials expense related to the AngioJet(TM) Thrombectomy System, Perma-Flow(R) Coronary Graft and Perma-Seal(R) A-V Access Graft offset the revenue increase resulting in a comparable loss for both periods.
 -0- 12/2/93
 /CONTACT: Russel E. Carlson of Possis, 612-550-1010/
 (POSS)


CO: Possis Corporation ST: Minnesota IN: MTC SU: ERN

AL -- MN007 -- 9692 12/02/93 10:06 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 2, 1993
Words:215
Previous Article:FREMONT PROMOTES DEMSKI TO NEW SENIOR MARKETING POST IN CHICAGO
Next Article:MESABA AVIATION ANNOUNCES NEW SERVICE
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters