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STERIS REPORTS SHARPLY HIGHER SALES AND PROFITS IN FISCAL 1993 SECOND QUARTER AND FIRST HALF

 STERIS REPORTS SHARPLY HIGHER SALES AND PROFITS
 IN FISCAL 1993 SECOND QUARTER AND FIRST HALF
 MENTOR, Ohio, Oct. 27 /PRNewswire/ -- STERIS Corporation (NASDAQ: STRL) today announced substantial increases in sales, net income, and net income per share in the fiscal 1993 second quarter and first half, which ended Sept. 30, 1992.
 Net sales for the fiscal 1993 second quarter increased 149 percent to $6,180,000 from $2,487,000 in the same prior year quarter. First half sales of $11,134,000 were up 134 percent from $4,761,000 in the corresponding period a year ago.
 "Demand for STERIS SYSTEM 1(TM) was strong with an increase in multiple unit orders from both existing and new customers during the quarter. Sales of the Company's proprietary STERIS 20(TM) sterilant and other consumables were at new record levels," commented Bill R. Sanford, STERIS's president.
 Second quarter net income was $398,000, a $589,000 increase from the net loss of $191,000 recorded in last year's second quarter. Net income for the first half of fiscal 1993 increased by $1,024,000 to $611,000 from a net loss of $413,000 in the first half of fiscal 1992.
 Net income per share for the fiscal 1993 second quarter and first half were $0.05 and $0.08, respectively, compared to net losses per share of $0.14 and $0.29 in the comparable fiscal 1992 periods. Income tax expense was minimal because of the company's net operating loss carryforward.
 Sanford stated further, "The investment in our U.S. direct sales and service force expansion program is paying off. We have rapidly increased the size of our field organization to 48 direct representatives to serve our customers. Our sales volume, particularly in September, exceeded our expectations, reflecting the expanding customer acceptance of our products and the performance of our growing and maturing sales and customer support group. We are pleased with our direction and enthusiastic about our progress."
 STERIS Corporation develops, manufactures, and markets sterile processing and infection prevention systems and related consumables and accessories for the health care industry. The company's STERIS SYSTEM 1(TM) enables health care professionals to safely sterilize immersible surgical and diagnostic instruments between patient procedures in less than 30 minutes at the site of patient care. The SYSTEM allows just-in-time availability of sterile instruments, including surgical and diagnostic endoscopes, microsurgery instruments, and miniature video cameras, thereby increasing equipment utilization, staff productivity, and safety.
 STATEMENTS OF OPERATIONS (Unaudited)
 (in thousands, except per share amounts)
 Three Months Ended Six Months Ended
 September 30 September 30
 1992 1991 1992 1991
 Net sales $6,180 $2,487 $11,134 $4,761
 Cost of products sold 2,672 1,136 4,748 2,193
 Gross profit 3,508 1,351 6,386 2,568
 Costs & expenses
 Selling, general
 & administrative 2,534 1,280 4,618 2,394
 Research & development 674 283 1,276 607
 Total 3,208 1,563 5,894 3,001
 Income (loss) from
 operations 300 (212) 492 (433)
 Interest income, net 98 21 127 20
 Income (loss) before
 income taxes 398 (191) 619 (413)
 Income taxes (A) -0- -0- 8 -0-
 Net income $398 $(191) $611 $(413)
 Net income (loss) per
 common share (B) $0.05 $(0.14) $0.08 $(0.29)
 Weighted average number
 of shares outstanding 8,650,356 2,195,474 7,907,721 2,195,474
 (A) -- Income tax expense was minimal because of the company's net operating loss carryforward.
 (B) -- The prior year figures reflect assumed dividends of $117,000 for the three month period and $234,000 for the six month period on certain preferred shares as an increase to loss attributable to common shares.
 -0- 10/27/92
 /CONTACT: Bill R. Sanford, president of STERIS, 216-354-2600/
 (STRL) CO: STERIS Corporation ST: Ohio IN: MTC SU: ERN


BM -- CL002 -- 5162 10/27/92 07:58 EST
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Date:Oct 27, 1992
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