Bovie Medical Corporation Posts Record Second Quarter and First Half Results.

MELVILLE, N.Y. -- Bovie Medical Corporation (the "Company") (Amex: BVX), a manufacturer and marketer of electrosurgical products, today announced record second quarter and first half revenues, net earnings and earnings per share, led by its electrosurgery division.

For the quarter ended June 30, 2006, revenue rose to a record $6.74 million, a 33% increase over the $5.05 million recorded in the same period last year. The strong showing in net sales translated into a dramatic turnaround in net earnings of $712,810.00 or $.04 per diluted share versus a net loss of $(118,337) or one-cent loss per diluted share in the comparable period a year earlier.

For the first half of fiscal 2006, ended June 30, Bovie's revenues increased 30% to a record $12.75 million versus $9.8 million in the first six months of fiscal 2005.

First half net income was at an historic level totaling $1,402,940 or $.08 per diluted share a significant improvement over a net loss of $(29,134) for the comparable period last year.

Andrew Makrides, president of Bovie, stated, "Our strong performance resulted from increased electrosurgery sales coupled with factory overhead and labor costs, as a dollar amount, remaining relatively unchanged. Gross profit margins, as a result, improved from 34% in 2005 to 41% in the current fiscal year."

He added, "We continue to direct our efforts at developing new products which should further enhance our profit margins and create a more diverse revenue stream."

This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company's SEC filings.

BOVIE MEDICAL CORPORATION
                  CONDENSED STATEMENTS OF OPERATIONS
                  FOR THE THREE AND SIX-MONTH PERIODS

                        Three Months Ended       Six Months Ended
                             June 30,                June 30,
                          2006        2005        2006        2005
                      ----------- ----------- ------------ -----------

Revenues              $6,740,745  $5,057,912  $12,752,196  $9,801,123
Cost of Sales         $3,848,484  $3,416,576   $7,553,776  $6,458,437
                      ----------- ----------- ------------ -----------

Gross Profit          $2,892,261  $1,641,336   $5,198,420  $3,342,686

Costs & Expenses      $2,180,757  $1,766,688   $3,802,272  $3,388,204
                      ----------- ----------- ------------ -----------
Gain (Loss) from
 operations           $  711,504  $ (125,352)  $1,396,148  $  (45,518)

Other income
 (expense):           $   11,306  $    4,515   $   21,792  $   11,204

Net Income (loss)
 before minority
 interest and income
 taxes                $  722,810  $ (120,837)  $1,417,940  $  (34,314)

Minority Interest     $    5,000  $    2,500   $   10,000  $    5,000

Provision for income
 taxes                $ (235,700)          -   $ (493,200)          -

Realized benefit of
 loss carryforward    $  220,700           -   $  468,200           -

Net Income (loss)     $  712,810  $ (118,337)  $1,402,940  $  (29,314)
  EPS (loss)   Basic         .05        (.01)         .10         .00
  EPS (loss)   Diluted       .04         N/A          .08         N/A

Weighted average
 shares Outstanding   14,286,858  13,908,188   14,223,949  13,897,055

Weighted average
 shares adjusted for
 dilutive securities  17,129,404         N/A   16,957,670         N/A