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WTC INDUSTRIES, INC. ANNOUNCES FIRST QUARTER RESULTS

 MINNEAPOLIS, May 14 /PRNewswire/ -- WTC Industries, Inc. (NASDAQ: WTCO) announced today that for the first quarter ended March 31, 1993 sales increased 106 percent to $420,763 from $204,602 for the same period last year. Net loss for the period was $320,156, or $.17 per share, compared to a net loss of $353,104, or $.17 per share, for the comparable period one year ago.
 Since May 4, 1993, Matthew E. Gilfix has served as interim chief executive officer and Ronald G. Dudley has served as chairman of the board. Vermes, former CEO, remains with the company as a director. The board of directors has initiated a search for the position of CEO. WTC Industries, Inc. is the worldwide supplier of PentaPure(R) iodinated resin. PentaPure resin is used inwater purification devices for consumer, industrial, and OEM applications.
 WTC INDUSTRIES, INC. CONDENSED CONSOLIDATED
 STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Ended
 3/31/93 3/31/92
 NET SALES $420,763 $204,602
 COST OF GOODS SOLD 288,893 156,062
 GROSS PROFIT 131,870 48,540
 EXPENSES
 Research and development 23,831 17,617
 Selling, general, and
 administrative 433,186 411,374
 --- 457,017 428,991
 LOSS FROM OPERATIONS (325,147) (380,451)
 OTHER INCOME 4,991 27,347
 NET LOSS $(320,156) $(353,104)
 NET LOSS PER COMMON SHARE $(0.17) $(0.17)
 WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING 1,937,617 2,192,790
 -0- 5/15/93
 /CONTACT: Matthew E. Gilfix, interim CEO, WTC Industries, Inc., 612-473-1625; or Tom de Petra or Adrienne Griffith, de Petra & Associates, Inc., 612-338-7630, for WTC Industries, Inc./
 (WTCO)


CO: WTC Industries, Inc. ST: Minnesota IN: ENV SU: ERN

DB -- MN014 -- 8674 05/14/93 13:48 EDT
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Publication:PR Newswire
Date:May 14, 1993
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