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EYE TECHNOLOGY ANNOUNCES INCREASED SECOND QUARTER SALES AND PROFITS

EYE TECHNOLOGY ANNOUNCES INCREASED SECOND QUARTER SALES AND PROFITS
 ST. PAUL, Minn., Aug. 31 /PRNewswire/ -- Eye Technology, Inc. today announced its sales and earnings for the second quarter ended June 30, 1992. Net sales of $1,653,051 represented an increase of $435,903 (36 percent) over $1,217,148 reported for the second quarter last year. The increase is directly attributed to a 30 percent increase in sales to domestic customers and a 23 percent increase in sales to international customers. Net sales for the six-month period ended June 30, 1992, were $3,232,318, an increase of $1,064,414 (49 percent) over sales of $2,167,904 for the six-month period ended June 30, 1991.
 Earnings for the second quarter were $66,250, a 42 percent increase over prior year second quarter earnings of $46,534. For the six-month period, earnings were $149,465 versus $12,905 for the first six months of the prior fiscal year.
 "The increase in sales can be attributed to increased product recognition and acceptance in the marketplace brought about by continued expansion of the company's sales force and the existence of a premarket approved product line which includes a series of lenses designed for small incision surgery," reported Robert J. Fitzsimmons, president and chief executive officer. Since June 1991, the company's geographic sales coverage in the domestic market has increased from 25 to 35 percent.
 Eye Technology, Inc., based in St. Paul, manufactures and markets intraocular lenses used by ophthalmic surgeons during cataract surgery. The company is currently quoted in the over-the-counter market via the National Quotation Service "Pink Sheets."
 EYE TECHNOLOGY, INC.
 CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
 SECOND QUARTER RESULTS (Unaudited)
 Three Months Ended
 6/30/92 6/30/91
 Net sales $1,653,051 $1,217,148
 Net income $66,250 $46,534
 Net income per share $.00 $.00
 Weighted average shares outstanding 24,791,032 22,854,864
 Six Months Ended
 6/30/92 6/30/91
 Net sales $3,232,318 $2,167,904
 Net income $149,465 $12,908
 Net income per share $.01 $.00
 Weighted average shares outstanding 24,317,004 22,617,117
 CONDENSED CONSOLIDATED STATEMENT OF EARNINGS
 FIRST QUARTER RESULTS (Unaudited)
 Three Months Ended
 3/31/92 3/31/91
 Net sales $1,579,267 $950,756
 Net income/(loss) $83,215 $(33,626)
 Net income/(loss) per share $.00 $(.00)
 Weighted average shares outstanding 23,842,975 22,376,733
 -0- 8/31/92
 /CONTACT: Debra J. McCoy, Vice President - Marketing and Communications for Eye Technology, 612-774-9060, or 800-328-9060/ CO: Eye Technology, Inc. ST: Minnesota IN: MTC SU: ERN


KH -- MN006 -- 5015 08/31/92 13:57 EDT
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Date:Aug 31, 1992
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