ARROW REPORTS 1ST QTR FISCAL '04 NET INCOME INCREASED 26.3%.(Arrow International Inc.)

Biotech Financial Reports, February, 2004

Arrow International, Inc. (NASDAQ:ARRO), Reading, Pa., has reported that net sales for the first quarter of fiscal 2004 increased to $103.1 million from $88.8 million in the first quarter of fiscal year 2003, an increase of 16.1%. Net income increased 26.3% to $14.4 million in the first quarter of fiscal year 2004 compared to $11.4 million in the same prior year period. Diluted earnings per share in the quarter ended November 30, 2003 were $0.33 compared to $0.26 in the first quarter of fiscal 2003 period, an increase of 26.9%.

The comparison of the first quarter of fiscal 2004 to first quarter fiscal 2003 gross profit, operating income, income before income taxes, net income and earnings per share, reflected a return to more normal levels in contrast to the...

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