NEW YORK, NY--(Marketwire - May 15, 2008) - Daxor Corporation (AMEX: DXR), a medical instrumentation and biotechnology company, today announced first quarter earnings for 2008. For the three months ended March 31, 2008 total operating revenues decreased by 17% to $420,913 from $505,882 in 2007. This decrease is directly attributable to no BVA-100 Blood Volume Analyzers being sold in the first quarter of 2008 versus two being sold during the first quarter of 2007. The Centers for Medicare and Medicaid Services (CMS) implemented a policy change effective January 1, 2008 which significantly reduced the reimbursement for diagnostic radiopharmaceutical products. It is the opinion of management that this change negatively impacted instrument sales. Volumex kit sales for the first quarter of 2008 were up by 24% over the prior year. Total costs and operating expenses for the first quarter of 2008 decreased by 1% to $1,689,714 vs. $1,711,749 for the first quarter of 2007.
