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LASER MEDICAL TECHNOLOGY, INC. ANNOUNCES SALES OF $1.2 MILLION IN THIRD QUARTER AND FORECASTS MUCH LOWER LOSSES IN FOURTH QUARTER

 SAN CLEMENTE, Calif., Nov. 17 ~PRNewswire~ -- Laser Medical Technology, Inc. (NASDAQ: LMET), today announced the results for its quarter ended Sept. 30, 1992.
 Sales for the quarter were $1,239,270, which represents an increase of 429 percent over sales for the quarter ended Sept. 30, 1991, of $234,282. The loss for the quarter ended Sept. 30, 1992, was $930,924 or $.06 per share on 14,608,963 weighted average shares outstanding, compared to a loss of $328,084 or $.03 per share for the quarter ended Sept. 30, 1991, on 9,805,733 weighted average shares outstanding. The reduced loss in the quarter reflects the beginning stages of the restructuring previously announced in early October 1992. As a result of this restructuring, which was fully implemented in October 1992, the company is able to reduce overhead in the fourth quarter of 1992 by approximately $225,000 per month (or approximately one-third) as a result of completion of the development of its new line of lasers and the settlement of patent infringement litigation with American Dental Laser.
 According to Chairman and Chief Executive Officer Dr. Guy Levy, "The third quarter of the year is traditionally the slowest season in the dental industry because of summer vacation. Although we are pleased that we were able to maintain our sales level in the quarter, we are successfully concentrating our efforts in the current quarter to increase our sales while at the same time maintain lower overhead. We believe that we have turned the corner and expect to have a much lower loss in the fourth quarter."
 Laser Medical Technology manufactures and markets advanced dental laser products. The company has received U.S. and foreign patents which cover the use of a cooling medium (such as water) on human tissue during the application of a laser beam. The cooling medium not only prevents thermal damage, but causes a photo acoustic effect which aids the removal of tissue. As a result of the use of a cooling medium, the company's lasers are uniquely capable of cutting mineralized hard dental tissue without killing the tooth. The Laser-35 received FDA authorization to market for soft tissue applications in May 1991. On March 30, 1992, the company announced that its Investigational Device Exemption application for apicoectomy (cutting of the tooth root) was accepted by the FDA.
 LASER MEDICAL TECHNOLOGY, INC.
 Consolidated Statements of Operations
 (Unaudited)
 Periods ended Three Months Nine Months
 Sept. 30 1992 1991 1992 1991
 Sales $1,239,270 $ 234,282 $ 3,951,944 $ 866,795
 Total costs & exps. 2,167,202 562,366 7,160,144 1,689,796
 Net loss $ (930,924) $(328,084) $(3,211,192) $ (823,001)
 Loss per share of
 common stock $(.06) $(.03) $(.23) $(.10)
 Weighted average
 shares outstanding 14,608,963 9,805,733 14,090,196 8,421,581
 -0- 11~17~92
 ~CONTACT: Dr. Francois Levy of Laser Medical Technology, 714-361-1606; or Sam Witchel of Scharff, Witchell & Co., 212-983-1060, for Laser Medical Technology~
 (LMET)


CO: Laser Medical Technology, Inc. ST: California IN: MTC SU: ERN

GK-PS -- NY028 -- 1758 11~17~92 10:40 EST
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Publication:PR Newswire
Date:Nov 17, 1992
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