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  • xfein xfein Feb 17, 2000 9:31 AM Flag

    Joe is right!

    Thursday February 17, 8:25 am Eastern
    Time



    SOURCE: MOCON, Inc.

    MOCON Announces 25% Increase
    in Earnings
    and Record Sales

    MINNEAPOLIS,
    Feb. 17 /PRNewswire/ -- MOCON, Inc. (Nasdaq: MOCO -
    news) today announced that 1999
    earnings increased
    25% compared to 1998 on record annual sales of
    $17,843,000.

    Net income increased 25% in 1999 to $2,899,000
    compared to $2,327,000 for 1998. Sales for 1999
    were
    $17,843,000 up 18% compared to $15,146,000 in 1998. Net
    income per share was 46 cents for 1999, up
    24%
    compared to 37 cents per share in 1998. Fourth quarter
    sales were $4,492,000 up 14% compared to
    $3,942,000
    during the fourth quarter of 1998. Fourth quarter 1999
    net income was $736,000 or 12 cents
    per
    share.

    ``We are very pleased with such a strong year in sales
    and earnings,'' commented President,
    Robert
    Demorest. ``We feel we are in tune with the needs of our
    customers, and the record revenue numbers provide
    us with
    confidence that we are on the right track.''

    MOCON is
    a leading provider of consulting, services, and
    systems to assess materials and processes
    for
    companies worldwide. See www.mocon.com for more
    information.

    This press release contains forward-looking statements
    that involve a number of risks and
    uncertainties.
    Important factors that could cause actual results to differ
    materially from those indicated by such
    forward-looking
    statements include but are not limited to uncertainties
    relating to competition and technological
    change,
    setbacks in product development programs,
    slower-than-anticipated customer acceptance of new
    products,
    dependence on certain key industries, and risk associated
    with the Company's acquisition strategy
    and
    international operations, and other factors set forth in the
    Company's filings with the Securities and
    Exchange
    Commission.

    MOCON's shares are traded on the Nasdaq Stock Market
    under the symbol MOCO.

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