To: GARY P GROBBEL who wrote (20747 ) 12/29/2004 3:00:50 PM From: D. K. G. Read Replies (4) | Respond to of 120415 EYDY.OB(0.145 x 0.17) still slowed by medicare but they continue to put up profits. Eye Dynamics Reports Profits for Eighth Consecutive Quarter Tuesday November 16, 9:01 am ET TORRANCE, Calif.--(BUSINESS WIRE)--Nov. 16, 2004--Eye Dynamics, Inc. (OTCBB:EYDY - News) is pleased to report its eighth consecutive quarter of profitability. The third quarter of 2004 was again profitable and continues the streak of profitability for the company. After tax profit of $59,645 for the third quarter compares to $348,607 for the same quarter in 2003, Year to date earnings per share of $0.01 compares to $0.03 for the same period of 2003. Third quarter sales continued slow at $437,421 as Medicare continues to scrutinize reimbursements for ENG tests. The result of this scrutiny is that many potential buyers have delayed their capital purchases until the situation regarding reimbursements from Medicare is clarified. Eye Dynamics is adjusting to this situation by controlling its costs. A strong element of cost reduction is an agreement reached with MedTrak Technologies for them to distribute all our vestibular products on a national exclusive distributorship arrangement. Almost all marketing expenses will now be borne by MedTrak, although we will continue to directly sell to the export, government and military markets. Even though total revenues for the three quarters ending September 30, 2004 are down 39% compared to the same period of 2003, percent of profit on revenues for the first half year was a healthy 17% with a gross profit of 52% being attained. Cash reserves continue to build at over $700,000, and very little current debt. Eye Dynamics is actively seeking other products that are synergistic with its medical product line as well as potential merger/acquisition candidates. 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. (OTCBB:EYDY - News), 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. ------------------------------------------------------------------------ Contact: Eye Dynamics, Inc. Charles E. Phillips, 310-328-0477 INVEST@EYEDYNAMICS.COM =========================================== Looks like EYDY is in the middle of a rounded base which means NOW is the time to stealthly accumilate.139.142.147.218