MTEN - expected 1000% revenue increase in 97 Message Board

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Biotech / Medical : MTEN - expected 1000% revenue increase in 97

MTEN 3.100

-2.8%

9:35 AM EST

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To: Rohit Sood who wrote ()	1/21/1998 3:20:00 PM
From: Tom Hofmann	of 279

Subject: Re: MTEN Fr: J. P. Feakins CEO Hello LeRoy: Thank you for your note. MTEN continues to improve it's fundementals significantly. You have probably seen the press releases on our expected revenues of about $1.4mm for the quarter ended December 31, 1997 and the order from LensCrafters for 28 MTI PhotoScreeners to start the PhotoScreening program. The 28 PhotoScreeners are for all LensCrafters stores in Chicago, for the pilot program. The press release was written by LensCrafters themselves, and we can report a very successful trial thus far. The intent is that LensCrafters would put a MTI PhotoScreener in each store. They have about 850. We are also reporting a very successful situation with other optical chains having recently sold and delivered units to many different companies. We believe these other optical chains will continue to order PhotoScreeners - they will not want to be left behind in childrens vision screening efforts when one of their competitiors is doing it! The PhotoScreener continues to prove itself as the device we said it was: THE answer to an unmet need. Even the Federal Government agrees! President Clinton has now signed into legislation the wording in the Health Care Financing Administration Appropriations Committee Report that deals with vision screening for all preverbal and preliterate children, using PhotoScreening. This means that all government departments such as Public Health, Women and Infants at Risk, Public Education, Medicaid and the like are being introduced to the the benefits of early vision screening using PhotoScreening as a technique. We are still working with a Washington DC based Lobbying Group, which is being funded by Polaroid Corporation. The hope is that PhotoScreening will soon be adopted as 'The standard of care' - the HCFA bill is just the start of the process. Our international orders for the PhotoScreener also show good increases over last year. We have a new product coming out in May, which is a very exciting situation. Steridyne's revenues are also increasing and costs at that subsiduary have been trimmed by the new management team. All of this will show a very healthy improvement in earnings. In summary, MTEN continues solidly on it's course towards profitable results for the fiscal year ending 6/30/98. We are reaching break even, as we said we would by early 1998. We are on target with our business plan and are finally seeing the results of our determination to see the MTII PhotoScreener used to save the eyesight of millions of children worldwide, a reality.

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