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HEARx, LTD. REPORTS THIRD QUARTER AND NINE MONTHS RESULTS

 HEARx, LTD. REPORTS THIRD QUARTER AND NINE MONTHS RESULTS
 WEST PALM BEACH, Fla., Aug. 17 /PRNewswire/ -- Dr. Paul A. Brown, chairman of HEARx, Ltd. (NASDAQ-BB: EARS), today reported third quarter and nine months results.
 For the nine months ending June 30, revenues increased 26 percent to $4,692,853 compared with $3,719,190 for the same period last year. Losses for the period were $1,391,776 versus $1,724,922 for the comparable period last year. For the quarter ending June 30, 1992, revenues increased to $1,633,425 compared with $1,450,330 for the same quarter of last fiscal year, a 13 percent increase. Losses for the quarter were $485,653 versus $508,032 in the year earlier period. The primary concern of the company at this stage of development continues to be increasing the market share.
 Commenting on the activity at HEARx, Brown said, "We continue to be pleased with recent developments at the company.
 -- On May 15, 3M exercised its option to invest an additional $1.5 million.
 -- AARP Pharmacy Service and HEARx have expanded hearing care to Richmond, Va.
 -- Our advertisement in the New York Times, Northeast Edition, brought in 2,000 patient inquiries, resulted in more than 500 appointments, has already produced more than 100 hearing aid sales and contributed to July sales for the company in excess of $700,000.
 "On May 15, 3M exercised its option to invest an additional $1.5 million thereby expanding its investment to approximately $3.5 million and its ownership of the company to approximately 17 percent. As part of this investment, 3M has been granted options to invest another $3 million for an additional 6 percent of the company. Our marketing efforts of the 3M product line are continuing.
 "The program to provide AARP members hearing care at the AARP Pharmacy Service centers in Oregon and Tampa/St. Petersburg has recently been expanded to include Richmond, Va.
 "The full page New York Times advertisement has also run as a full page ad over the past several months in the Palm Beach Post, Sun Sentinel, Miami Herald, Atlanta Constitution, St. Petersburg Times, and the Oregonian. With the opening of our new center in Richmond, Va., we expect to utilize this ad along with our traditional 'Grand Opening' advertisements."
 HEARx Ltd., the nation's largest network of independent auditory- vestibular-rehabilitative centers, has comprehensive state-of-the-art facilities offering a full range of diagnostics and rehabilitative services. The company currently operates 30 locations in New York, Florida, Georgia and Oregon. HEARx currently has strategic alliances with Humana Health Care Plans, Aetna Health Care Plans of New York, AARP Pharmacy Services and Minnesota Mining and Manufacturing (3M).
 HEARx LTD. AND SUBSIDIARY
 Consolidated Statements of Operation
 (Unaudited)
 Three months ended June 30 1992 1991
 Net sales $1,633,425 $1,450,330
 Net loss (485,653) (508,032)
 Net loss per common share (.02) (.03)
 Weighted average number of
 shares of common stock outstanding 28,561,328 20,132,500
 Nine months ended June 30 1992 1991
 Net sales 4,692,853 3,719,190
 Net loss (1,391,776) (1,724,922)
 Net loss per common share (.05) (.09)
 Weighted average number of
 shares of common stock outstanding 27,061,186 20,132,500
 -0- 8/17/92
 /CONTACT: Paul A. Brown, chairman of HEARx, 407-478-8770, or Edward Silverman of Silverman, Heller & Bond, 212-682-9222, for HEARx/
 (EARS) CO: HEARx, Ltd. ST: Florida IN: HEA SU: ERN


LD-OS -- NY076 -- 0665 08/17/92 16:43 EDT
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Date:Aug 17, 1992
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