MINNEAPOLIS--(BUSINESS WIRE)--July 19, 2005--MOCON, Inc. (Nasdaq:MOCO) today announced the sale of substantially all of the assets used in its discontinued Vaculok(R) product line. As previously announced, the Company has decided to cease production of Vaculok vacuum insulated panels and exit the product line. Pursuant to the sale agreement, the Company received an up-front payment of $125,000, along with the right to receive up to an additional $60,000 upon the occurrence of certain post-closing events. As a result of the sale, the Company expects to recognize a pre-tax gain of approximately $95,000 in the third quarter ending September 30, 2005. After-tax, the Company expects to recognize a gain of approximately $60,000, or $0.01 per diluted share, in the third quarter.
