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THE KENDALL COMPANY REPORTS FIRST QUARTER RESULTS

 MANSFIELD, Mass., April 30 /PRNewswire/ -- Kendall International, Inc. (NASDAQ-NMS: KEND), and its wholly owned subsidiary, The Kendall Company, reported net income for the quarter ended March 31, 1993 of $10.0 million or 48 cents per share, compared to a net loss of $7.6 million in the first quarter of 1992. This increase reflects both operating improvements, as well as lower interest expense resulting from the company's financial restructuring in July of 1992.
 Richard A. Gilleland, Kendall's chairman, president and chief executive officer, reported, "We are pleased with our start to 1993, as we continue to benefit from sales gains, manufacturing cost savings measures and expense controls. Our proposed refinancing should be completed in the second quarter and we look forward to the interest savings and resulting earnings improvement that it will yield."
 Net sales for the quarter ended March 31, 1993 were $202.2 million, $15.0 million or 8.0 percent higher than the comparable quarter of 1992. Kendall's Healthcare and Futuro business units recorded sales increases in the quarter of 6.1 percent and 6.6 percent, respectively, while International business unit sales decreased slightly, primarily as a result of negative currency swings, principally in Europe. Industrial product sales by the company's Polyken business unit increased over 30 percent in the quarter, principally as a result of pipeline product shipments to the former Soviet Union.
 Operating income for the quarter ended March 31, 1993 was $27.2 million, an increase of $6.0 million or 28.6 percent over the $21.2 million reported for the quarter ended March 31, 1992, as profitability improvements were recorded at each of the company's four business units.
 The company also reported that the strong cash flows realized since the restructuring have continued into the first quarter of 1993. Domestic bank term debt, which exceeded $179 million following the restructuring in July of 1992, was reduced to $100 million at March 31, 1993, reflecting an additional $20 million of voluntary prepayments in the first quarter.
 Earlier this month, the company announced that it had filed a registration statement with the Securities and Exchange Commission for a public offering of $100 million principal amount of Senior Subordinated Notes due in the year 2003. Proceeds of the proposed offering, along with additional borrowings under the company's bank facilities, that will be amended contemporaneously with the offering, will be used to redeem all of the company's outstanding 10 percent/12 percent Senior Subordinated Notes due 2000 in the aggregate principal amount of $195.7 million.
 The following table summarizes the company's operating results for the three month periods ended March 31, 1993 and 1992.
 THE KENDALL COMPANY
 (Dollars in Millions, Except Per Share Amounts)
 Three Months Ended
 3/31/93 3/31/92(a)
 Net sales $202.2 $187.2
 Earnings before interest,
 taxes, depreciation and
 amortization 35.7 29.8
 Depreciation 4.3 5.5
 Amortization 4.2 3.1
 Operating income 27.2 21.2
 Interest expense 8.8 27.9
 Income tax provision 8.4 0.9
 Net income (loss) 10.0 (7.6)
 Earnings per share(b) 48 cents --
 ----
 NOTE: (a) Represents a pre-restructuring period, however no material basis differences exist for comparison to the three month (post restructuring) period ended March 31, 1993.
 (b) Earnings per share data is not presented for pre-restructuring periods due to the establishment and issuance of a new class of common stock in connection with the restructuring.
 The Kendall Company manufactures, markets and distributes medical supplies and devices for the hospital, alternate site health care and home health care markets, as well as adhesive products and tapes for industrial and consumer markets, and employs approximately 8,800 people worldwide.
 -0- 4/30/93
 /CONTACT: James S. Bacciocco, Kendall International, Inc., 508-261-8094/
 (KEND)


CO: Kendall International, Inc. ST: Massachusetts IN: HEA MTC SU: ERN

DD -- NE006 -- 3133 04/30/93 10:55 EDT
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Date:Apr 30, 1993
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