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SCIMED ANNOUNCES RECORD FIRST QUARTER RESULTS

 MINNEAPOLIS, June 28 /PRNewswire/ -- SCIMED Life Systems, Inc. (NASDAQ-NMS: SMLS), announced record net earnings of $15,178,000, or $.99 per fully diluted share, for the first quarter of Fiscal 1994, ending May 31, 1993, an increase of 42 percent compared with earnings of $10,678,000, or $.70 per share, for the same period last year. Net sales for the quarter were a record $65,837,000, an increase of 28 percent compared with net sales of $51,265,000 last year.
 Fiscal 1994 first quarter net sales were favorably impacted by increased net selling prices in Germany and the United Kingdom due to SCIMED's establishment of direct sales organizations in those markets. Strong sales of SCIMED's NC Shadow(TM) and family of COBRA(TM) catheters, especially SCIMED's new LONG COBRA(TM) series, also contributed to the sales increase.
 Fiscal 1994 first quarter net earnings were favorably impacted by a decline in royalties as a percent of sales, lower sales and marketing expenses as a percent of sales and lower litigation expenses. However, SCIMED continues to incur expenses related to ongoing shareholder and patent litigation. Fiscal 1994 first quarter net earnings were adversely impacted by increased investments in research and development and goodwill amortization related to SCIMED's purchase of its German distributor.
 Dale A. Spencer, president and chief executive officer, commented, "SCIMED's first quarter accomplishments have strengthened our global operations and improved our competitive position worldwide. While we are mindful of the significant challenges that lie ahead, we believe that these recent accomplishments illustrate our ability to profitably grow our business in an increasingly dynamic and complex health care environment."
 SCIMED Life Systems, Inc. develops, manufactures, and markets disposable medical devices, principally coronary and peripheral angioplasty catheters, for non-surgical treatment of cardiovascular disease. SCIMED's shares are traded on the NASDAQ National Market System under the symbol SMLS.
 SCIMED Life Systems, Inc.
 Consolidated Statements of Earnings
 (Unaudited)
 (In thousands except for per share amount)
 Three Months Ended
 3/31/93 3/31/92
 Net Sales $65,837 $51,265
 Cost of Sales 13,955 10,942
 Gross Profit 51,882 40,323
 Operating Expenses:
 Selling, General and Administrative 17,330 15,182
 Royalties 6,136 5,181
 Research and Development 5,128 4,048
 Operating Profit 23,288 15,912
 Interest Income 1,039 875
 Interest Expense 138 254
 Other Income (Expense), net (96,000) 22,000
 Earnings Before Income Taxes 24,093 16,555
 Income Taxes 8,915 5,877
 Net Earnings $15,178 $10,678
 Earnings Per Common Share $.99 $.70
 Weighted Average Number of Common and
 Common Equivalent Shares Outstanding 15,285 15,238
 Consolidated Balance Sheets
 (Unaudited)
 (In thousands except for per share amount)
 5/31/93 2/28/93
 Cash and Cash Equivalents $68,102 $73,750
 Marketable Securities 48,583 38,120
 Accounts Receivable, net 31,525 31,100
 Inventories 9,822 8,573
 Other Current Assets 11,993 9,044
 Total Current Assets 170,025 160,587
 Property, Plant and Equipment, net 33,859 28,428
 Equity Investments 11,986 11,986
 Intangible Assets 32,078 26,026
 Other Assets, net 3,076 2,883
 --- $251,024 $229,910
 Current Liabilities $49,598 $44,089
 Other Non-Current Liabilities 340 302
 Shareholders' Equity 201,086 185,519
 --- $251,024 $229,910
 -0- 6/28/93
 /CONTACT: Karen J. Kelsey, director, investor and public relations,
 of SCIMED, 612-494-1329/
 (SMLS)


CO: SCIMED Life Systems, Inc. ST: Minnesota IN: MTC SU: ERN

DB -- MN015 -- 6446 06/28/93 17:22 EDT
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Date:Jun 28, 1993
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