Bovie Medical Corporation Reports Increased Earnings On Record Revenues for the First Half of Fiscal 1999.

MELVILLE, N.Y.--(BW HealthWire)--Aug. 19, 1999--

Bovie Medical Corporation (BOVI: OTC BB), a company engaged in the engineering, designing, manufacturing, and marketing of electrosurgical medical products, today announced record revenues of $4.6 million for the first six months of fiscal 1999, ended June 30, representing an 18 percent increase over revenues of $3.9 million in the comparable period last year. Net income in the first half of the current year increased to $ 105,458 or 1 cent per share, on 16,738,255 shares outstanding, versus a net loss of $ (171,224) or a 2 cents loss per share on 10,914,601 outstanding shares, in the same period, a year-earlier.

For the three months ended June 30, 1999 revenues improved to $2.4 million from $2.2 million.

In commenting on the performance, J. Robert Saron, president of Bovie's wholly- owned subsidiary, Aaron Medical Industries, stated, "The improvement in revenues is primarily a result of increased demand for the Company's cauteries and electrosurgery products, including Aaron's 800 and 1200 generators. Furthermore, we have identified opportunities in the area of aesthetic treatment medical devices used primarily by plastic surgeons and dermatologists. We believe this market will experience rapid growth; as a result of an increasing aging population. We are confident that FY99 will be a period of double-digit revenues growth."

This document may contain some forward looking statements, particularly regarding operational prospects in 1999 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.