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Second Quarter eyeonics, Inc. Revenues Rise 30%



7/24/2006 11:13:06 AM

ALISO VIEJO, Calif., July 24 /PRNewswire/ -- eyeonics, inc., the developer and manufacturer of the crystalens, the first and only FDA approved accommodating intraocular lens, today announced that revenues for the second quarter ended June 30, 2006 totaled $4.3 million, up 30 percent from revenues in the same period last year. Revenues for the first half of 2006 were $8.4 million, a 21 percent increase over the first half of 2005. At the same time, implants have grown more than 27 percent year-over-year. As previously announced, the crystalens has now been implanted in more than 50,000 patients worldwide.

"We are seeing more and more evidence that accommodating technology will become the lens of choice for surgeons and their patients in the premium channel market," said J. Andy Corley, Chairman and CEO of eyeonics. "As predicted, complications with multi-focal technology such as glare and halos, lack of intermediate vision, and loss of contrast sensitivity continue to surface."

Mr. Corley added, "Like our original crystalens, our second generation crystalens SE accommodating lens, introduced in September 2005, focuses vision at all distances much like the eye's natural lens and has been very well received by ophthalmologists and their patients. 'SE' reflects its square edge, and the crystalens SE implants are now growing at a faster rate than the first generation product with virtually no capsular issues."

Jay Pepose, MD, Director of the Pepose Vision Institute and Professor of Clinical Ophthalmology at Washington University School of Medicine in St. Louis, added, "crystalens has many advantages in that its mechanism of action closely resembles many aspects of natural accommodation. Most importantly, we do not hear complaints of disturbing night halos or waxy vision, which is more common with multi-focal lenses. We have had extremely high levels of patient satisfaction and the fewest complaints across the board with crystalens."

Kevin Waltz, MD, Director of Eye Surgeons of Indiana and Assistant Professor of Optometry at Indiana School of Optometry in Indianapolis agreed, adding, "The crystalens gives my patients the opportunity to see well at all distances with a minimal risk of glare and halos. It gives the patient and surgeon options that no other lens is able to deliver."

About crystalens(R)

The crystalens is the result of more than 14 years of research and development by J. Stuart Cumming, M.D., F.A.C.S., and was approved by the FDA in November 2003. More than 50,000 lenses have been implanted worldwide. During clinical trials, all of the patients who received the crystalens greatly reduced their need for corrective lenses or eyeglasses. The patented crystalens technology is designed to allow the lens to move in the eye in a manner similar to the natural lens. By using the eye's muscle to move the lens back and forwards naturally, patients can focus through a continuous range of vision including near, far and everywhere in between. All other intraocular lenses are designed to remain fixed in the eye. For more information about the crystalens go to http://www.crystalens.com/ .

About eyeonics, inc.(TM)

eyeonics is a privately held medical device company headquartered in Aliso Viejo, California, founded in 1998. eyeonics is committed to developing a new class of visual enhancement systems that will enable patients to see up close, far away and all distances in between. For more information about eyeonics, inc. and the crystalens go to http://www.eyeonics.com/ or http://www.crystalens.com/ .

eyeonics, inc.

CONTACT: Steven J. Naber, Chief Financial Officer of eyeonics, inc.,+1-949-389-1783; or Steve DiMattia of EVC Group, Inc., +1-646-277-8706, foreyeonics, inc.


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