Montgomery Securities initiates coverage of CNS, Inc. with a BUY rating

Business Wire, April 2, 1996

SAN FRANCISCO--(BUSINESS WIRE)--April 2, 1996--Montgomery Securities analyst Michael Moe initiated coverage of CNS, Inc. with a rating of BUY.

In March, Montgomery Securities co-managed a common stock offering of 1.5 million shares.

Moe expects the company to earn $0.75 a share in Fiscal Year 1996 and $1.00 a share in Fiscal Year 1997. He has also established a 12-month target price of $35.

CNS, Inc. manufactures the Breathe Right nasal strip which is used to ease snoring and nasal congestion. The company has experienced explosive growth with sales increasing from $93,000 in 1993 to $48.6 million in 1995. Moe believes the product could generate revenues of $500 million per year in the next five to seven years.

CONTACT: Montgomery Securities, San Francisco

Michael Moe, 415/627-2688

Amber Griffiths, 415/627-2462