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STERIS REPORTS RECORD FINANCIAL RESULTS IN FISCAL 1993 FOURTH QUARTER AND FULL YEAR

 MENTOR, Ohio, April 28 /PRNewswire/ -- STERIS Corporation (NASDAQ: STRL) today announced the highest levels of net sales, net income and net income per share for any fiscal year and quarterly period in the Company's history.
 Net sales in the three months ending March 31, 1993, increased 83 percent to $8,722,000 from $4,772,000 in the fourth quarter a year ago. For the full year, fiscal 1993 net sales were $26,662,000, up 106 percent from $12,943,000 in fiscal 1992.
 Net income in the fiscal fourth quarter was $1,157,000 in 1993, a 111 percent increase from the $549,000 recorded in the fourth quarter of fiscal 1992. On a per-share basis, quarterly net income was $0.13 in fiscal 1993 and $0.10 in fiscal 1992. Fiscal 1993 fourth-quarter earnings per share were calculated on 73 percent more average shares outstanding as a result of the Company's June 1992 initial public offering of common stock and subsequent March 1993 common stock public offering.
 On an annual basis, fiscal 1993 net income was $2,508,000, or $0.31 per share, compared with a fiscal 1992 net loss per share of $0.20. Income tax expense was minimal because of the Company's net operating loss carryforward.
 Bill R. Sanford, STERIS Chairman, President, and Chief Executive Officer, stated, "We are pleased with STERIS's overall performance in fiscal 1993 and the fourth quarter. The strength of our sales gains was due to demand for the Company's STERIS SYSTEM 1(TM) sterile processing system and growth in consumption of STERIS 20(TM) sterilant and other consumables and accessories. We estimate that STERIS SYSTEM 1(TM) was used by customers to process over 4.5 million reusable surgical and diagnostic devices safely and cost-effectively during fiscal 1993."
 Mr. Sanford continued, "The greater number of multiple system orders from new customers and reorders from established customers demonstrate a high level of acceptance of our products. The Company's considerable investment during the year in our direct sales force and expanded customer training and support programs is paying off."
 "The current level of business activity reflects a high level of customer satisfaction and the successful efforts of our more seasoned direct sales force," added Mr. Sanford. "Growth in minimally invasive procedures and added emphasis on cost containment, productivity, and environmental safety are expanding the already favorable market for STERIS. International business opportunities also hold outstanding growth potential."
 STERIS Corporation develops, manufactures, and markets sterile processing and infection prevention systems and related consumables and accessories for the healthcare industry. The Company's STERIS SYSTEM 1(TM) enables health professionals to safely sterilize immersible surgical and diagnostic devices between patient procedures in less than 30 minutes at the site of patient care. The SYSTEM allows just-in-time availability of sterile devices, including surgical and diagnostic endoscopes, microsurgery instruments, and miniature video cameras, thereby increasing equipment utilization, staff productivity, and safety.
 STERIS CORPORATION
 STATEMENTS OF INCOME (Unaudited)
 (In Thousands, Except Share and Per Share Amounts)
 Three Months Ended Twelve Months Ended
 March 31 March 31
 1993 1992 1993 1992
 Net Revenue $8,722 $4,772 $26,662 $12,943
 Cost of products
 sold 3,499 2,138 11,070 5,872
 Gross Profit 5,223 2,634 15,592 7,071
 Cost & Expenses
 Selling, general
 & administrative 3,438 1,780 10,667 5,859
 Research & devel. 688 317 2,664 1,226
 Total 4,126 2,097 13,331 7,085
 Income (loss) from
 operations 1,097 537 2,261 (14)
 Interest expense
 (income), net (93) (12) (300) (50)
 Income before
 income taxes 1,190 549 2,561 36
 Income taxes
 (Note A) 33 0 53 0
 Net income $1,157 $ 549 $2,508 $ 36
 Net income (loss) per
 common share
 (Note B) $ .13 $ 0.10 $ .31 $(0.20)
 Weighted average
 number of shares
 outstanding 8,842,931 5,122,734 8,036,522 2,171,616
 Note A: Income tax expense was minimal because of the Company's net operating loss carryforward.
 Note B: The prior year figures reflect assumed dividends of $50,000 for the three-month period and $467,000 for the twelve-month period on certain preferred shares as an increase to loss attributable to common shares.
 -0- 4/28/93
 /CONTACT: Bill R. Sanford, Chairman, President, and CEO, STERIS Corporation, 216-354-2600/
 (STRL)


CO: STERIS Corporation ST: Ohio IN: MTC SU: ERN

AR-LC -- CL003 -- 1763 04/28/93 08:05 EDT
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Date:Apr 28, 1993
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