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UNITED STATES SURGICAL CORPORATION ANNOUNCES 64 PERCENT INCREASE IN NET INCOME ON SALES INCREASE OF 50 PERCENT FOR THE SECOND QUARTER 1992

UNITED STATES SURGICAL CORPORATION ANNOUNCES 64 PERCENT INCREASE IN NET
 INCOME ON SALES INCREASE OF 50 PERCENT FOR THE SECOND QUARTER 1992
 NORWALK, Conn., July 15 /PRNewswire/ -- United States Surgical Corporation (NYSE: USS) today reported record sales and record earnings for the second quarter of 1992. Sales increased 50 percent to $304.8 million in the second quarter of 1992 versus $203.2 million for the comparable 1991 quarter. Net income and net income per share rose 64 percent and 57 percent, respectively, to $34.8 million or $.58 per share compared to $21.2 million or $.37 per share in the second quarter of 1991.
 For the six months ended June 30, 1992, sales increased 48 percent to $581.9 million versus $393.3 million in the comparable 1991 period. Net income and net income per share rose 72 percent and 62 percent, respectively, to $64.5 million or $1.07 per share versus $37.4 million or $.66 per share over the 1991 six month period.
 Leon C. Hirsch, chairman, stated, "The company's laparoscopic sales continue to explode as its expanding product line allows surgeons to bring minimally invasive techniques to a host of gynecologic, general, lung and bowel procedures, such as hysterectomy, hernia repair, gallbladder removal, adhesions and appendectomy. The continued growth in both sales and earnings are a result of the laparoscopic revolution, coupled with strength in the company's core stapling product line."
 The board of directors declared a quarterly dividend of $.075 per share for holders of record Tuesday, Sept. 1, 1992, payable Friday, Sept. 11, 1992.
 United States Surgical Corporation is the world's largest manufacturer and marketer of surgical staplers and the leader in the growing field of minimally invasive surgery.
 Six Months Ended Three Months Ended
 In thousands, except June 30, June 30,
 per share data 1992 1991 1992 1991
 Net sales $581,907 $393,305 $304,819 $203,179
 Costs and expenses:
 Cost of products sold 240,081 162,627 123,505 85,328
 Research and development 18,299 14,634 10,097 6,801
 Selling, administrative
 and general 225,556 157,168 118,735 78,021
 Interest 8,360 5,440 4,166 2,688
 Total costs and
 expenses 492,296 339,869 256,503 172,838
 Income before income taxes 89,611 53,436 48,316 30,341
 Income taxes 25,091 16,031 13,528 9,103
 Net income $ 64,520 $ 37,405 $ 34,788 $ 21,238
 Average number of common
 shares and common share
 equivalents outstanding 60,235 56,545 60,126 57,299
 Net income per common
 share and common
 share equivalent $1.07 $.66 $.58 $.37
 Dividends paid per
 common share $.15 $.1375 $.075 $.075
 UNITED STATES SURGICAL CORPORATION AND SUBSIDIARIES
 Consolidated Balance Sheets (Unaudited)
 June 30, June 30,
 In thousands 1992 1991
 ASSETS
 Cash $ 2,420 $ 2,045
 Receivables (net) 239,489 153,242
 Inventories 213,231 126,461
 Other current assets 78,076 19,073
 Total Current Assets 533,216 300,821
 Property, plant, and equipment (net) 369,103 237,369
 Other assets 57,612 46,508
 Total Assets $959,931 $584,698
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities $155,786 $112,093
 Long-term debt 331,295 193,500
 Deferred income taxes 32,146 21,531
 Stockholders' Equity:
 Common stock 6,269 5,936
 Additional paid-in capital 242,930 174,942
 Retained earnings 264,714 162,230
 Installment receivables from
 sales of common stock (7,619) (8,345)
 Treasury stock (71,529) (69,825)
 Other 5,939 (7,364)
 Stockholders' equity 440,704 257,574
 Total Liabilities and
 Stockholders' Equity $959,931 $584,698
 -0- 7/15/92
 /CONTACT: Marianne Scipione of United States Surgical, 203-845-1404/
 (USS) CO: United States Surgical Corporation ST: Connecticut IN: HEA SU: ERN


PS -- NY088 -- 9701 07/15/92 16:11 EDT
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Date:Jul 15, 1992
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