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| Torrance,
CA January 22, 2004 |
News Release Index
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EYE DYNAMICS HAS RECORD PROFITS AND SALES
IN 2003 |
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Eye Dynamics, Inc.
(
EYDY,
Trade) Eye Dynamics (OTCBB: EYDY),
completed year 2003 with its best ever
sales and profits. Sales increased to $3.25
million, up 77% from the 2002 level of
$1.84 million. Also, net profit increased
to $856,000 as compared to $151,000 in
2002.
The increase in sales is due to successful
marketing of its medical product to an
expanding customer base of physicians by
including Neurologists, Internal Medicine
and Chiropractors to its mature market of
ENT/Otologist physicians.
Overall expenses for 2003 decreased 6% from
2002 levels while sales increased 77%.
Therefore, expenses, as a percent of
revenue, were only 18% in 2003 as opposed
to 34% in 2002.
For 2004, expansion into more medical
markets is planned as well as closer
cooperation with MedTrak Technologies,
which accounted for 46% of revenues for the
year, as they expand their product and
market base.
For six consecutive quarters, sales have
increased over the same quarter one year
earlier. The goal for 2004 is to continue
this string of successful quarterly
periods. A continuing goal is to further
increase gross profit by reducing product
cost by upgrading designs and improved
component selection. Eye Dynamics also
plans to increase the selling price of
select products.
This is the second consecutive year of
profitability for Eye Dynamics. Earnings
per share are estimated to be $0.05 per
share or when fully diluted, $0.04 per
share. The final Audited Financial
Statement will be completed in
February.
About Eye Dynamics, Inc.
Eye Dynamics is in the business of
producing and marketing patented
proprietary products and other services for
the institutional, medical and government
markets. The company is a leader in the
Video ENG medical product market, having
invented the Video ENG system and brought
it to market in 1994. SafetyScope, the
company’s latest product, is designed
for the ‘fitness-for-duty’
screening of workers. SafetyScope is simple
to use, takes only 90 seconds and does not
require any bodily fluids like urine-based
drug testing. It is based on the manual
methods of evaluating eye responses of an
individual to detect neurological signs of
impairment used by law enforcement
throughout the United States.
To find out more about Eye Dynamics, Inc.
(OTC:EYDY), visit our web site at
www.EYEDYNAMICS.COM
Safe Harbor for Forward Looking
Statements
This news release includes forward-looking
statements that are made pursuant to the
“safe harbor” provisions of the
Private Securities Litigation Reform Act of
1995. While these statements are made to
convey to the public the company’s
progress, business opportunities and growth
prospects, readers are cautioned that such
forward-looking statements represent
management’s opinion. Whereas
management believes such representations to
be true and accurate based on information
and data available to the company at this
time, actual results may differ materially
from those described. The company’s
operations and business prospects are
always subject to risk and uncertainties.
Important factors that may cause actual
results to differ are set forth in the
company’s periodic filings with the
U.S. Securities and Exchange
Commission.
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