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MERIT MEDICAL REPORTS DECLINE IN INCOME

Merit Medical Systems reported second quarter net income of $248,960 or 4 cents per share on revenues of $10.7 million, compared to net income of $601,350 or 9 cents per share on revenues of $8.3 million for the second quarter of 1994.

For the first six months, net income was $312,428 or 5 cents per share on record revenues of $20.4 million versus net income of $1.2 million or 19 cents per share on revenues of $16.3 million for the first six months of 1994.Revenues were up 28 percent and 25 percent, respectively, for the quarter and six month periods. Fred Lampropoulos, CEO and president, attributed the lower earnings to investments in Ireland and the costs associated with starting the company's European sales operations. He expects international sales expenditures to stabilize during the third and fourth quarters.