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VALLEY FORGE SCIENTIFIC REPORTS RECORD SECOND QUARTER RESULTS

 OAKS, Pa., May 7 /PRNewswire/ -- Valley Forge Scientific Corp. (NASDAQ: VLFG; BSE: VLF), a leading developer and manufacturer of bipolar electrosurgical products for the worldwide hospital market, today reported financial results for the second quarter and six months ended March 31, 1993.
 The company reported record sales of $620,818 for the quarter, an increase of 333 percent, and sales of $942,288 for the half year, a 108 percent rise over sales in the corresponding periods in 1992. Second quarter net income was a record $81,394 or 1 cent per share compared with a net loss of $185,015 or 2 cents per share in last year's like quarter. Six-month net income was $7,984 compared with a loss of $253,693 or 3 cents per share in the 1992 period.
 Jerry L. Malis, president and chief executive officer, attributed the sales increases primarily to increased shipments to Codman & Shurtleff, a division of Johnson & Johnson that markets and distributes the company's bipolar electrosurgical system products and associated irrigation systems.
 "The sales reflect an increased demand for the CMC-III High Power Bipolar System and the disposable bipolar cord irrigation tubing set. However, not included are sales of the company's new bipolar generators designed for the endoscopic and the OBGYN office market, which are on schedule to start in the third quarter of 1993 -- through existing distributors' agreements. During the first six months of 1993, the company has also increased its inventory to support the delivery of products under these agreements," Malis said.
 VALLEY FORGE SCIENTIFIC CORP.
 Financial Highlights (Unaudited)
 Periods ended Three Months Six Months
 March 31 1993 1992 1993 1992
 Revenues $620,818 $ 143,367 $942,288 $ 452,284
 Net income (loss) $ 81,394 $(185,015) $ 7,984 $(253,693)
 Primary earnings (loss)
 per share $.01 $(.02) -- $(.03)
 Fully diluted earnings
 (loss) per share $.01 $(.02) -- $(.03)
 Primary common shares
 outstanding 8,227,090 8,152,730 8,207,594 8,142,213
 Fully diluted common
 shares outstanding 8,235,351 8,152,730 8,222,866 8,149,818
 -0- 5/7/93
 /CONTACT: Jerry L. Malis, president and CEO of Valley Forge Scientific, 215-666-7500/
 (VLFG)


CO: Valley Forge Scientific Corp. ST: Pennsylvania IN: HEA SU: ERN

GK-OS -- NY015 -- 5825 05/07/93 09:38 EDT
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Publication:PR Newswire
Date:May 7, 1993
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