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BALLARD MEDICAL POSTS NET-INCOME GAIN

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Ballard Medical Products reports net income for the third fiscal quarter was $1.53 million, compared to $1.05 million for the same quarter last year.

For the first nine months of the fiscal year ended June 30, earnings were $4.34 million, up from $2.83 million for the same period a year earlier.Net sales for the period were $21.11 million, up from $14.59 million for the first nine months of last year, an increase of 44.6 percent. Net sales for the third quarter of fiscal 1990 were $7,735,432 compared with $5,463,820 for the third quarter 1989.

Earnings per share for the nine months were 79.4 cents compared with 53.5 cents a year ago. Earnings per share for the third quarter 1990 were 28.1 cents compared with 19.9 cents for the third quarter 1989.

Year-to-date net income of $4.34 million (79.4 cents per share) includes the net income after taxes from two non-recurring items of $448,018 (8.2 cents per share).

The company said construction of its new 120,000-square-foot manufacturing facility should be completed by late fall.

Ballard Medical has 5,301,506 shares of common stock outstanding.