Paradigm Medical Third Quarter Net Income $37,000, Sales Increase 32%

Paradigm Medical Third Quarter Net Income $37,000, Sales Increase 32% 


SALT LAKE CITY, Nov. 17  /PRNewswire-FirstCall/ -- Paradigm Medical Industries 
(BULLETIN BOARD: PMED, PMEDW)  today reported sales and earnings for the third
quarter 2003.

The Company reported a profit of $37.0 thousand for the third quarter ending
September 30, 2003, compared with a loss of $3.39 million in the same period
last year.  The Company reported third quarter 2003 revenues of $853,000 versus
revenues of $645,000 during the second quarter 2003.

Commenting on third quarter results, President and Chief Executive Officer Dr.
Jeffrey F. Poore remarked, "I committed to shareholders back in June 2003 to
move the company forward.  We have done this by cutting losses and waste while
focusing on sound business principles.  I am pleased to report that we are on
track with the initiatives I outlined in my letter to shareholders.  In the
course of a short six months we have taken a company from acute financial
distress to one that is reporting a profitable quarter.

Dr. Poore continued, "We believe that the positive net income of $37,000 for the
quarter is an extremely significant event for Paradigm. Although the income was
partly due to a one-time gain resulting from the settlement of outstanding
liabilities and disputes, we are encouraged by the overall reduction in expenses
and related losses.  The loss from operations decreased from approximately $3.4
million for the quarter ended September 30, 2002 to approximately $206,000 for
the quarter ended September 30, 2003 -- a reduction of 94%.  We are pleased to
see an increase in revenue of approximately 32% in third quarter over second
quarter 2003 and believe that we have made the necessary reduction in costs to
lead us toward further profitability.  The company is focused on a major
initiative to increase sales of several of our high margin products including
the Blood Flow Analyzer, the UBM microscope, the Perimeter, and the Corneal
Topographer.  Although this report is only a snapshot in time, we believe it
illustrates our focus, ingenuity and work ethic.  We will continue to
communicate new initiatives and progress that we believe will increase
shareholder value.

   Financial Table

                          Three Months Ended        Nine Months Ended
                             September 30,            September 30,

                          2003         2002        2003         2002
                       (Unaudited)  (Unaudited) (Unaudited)  (Unaudited)

  Sales                 $853,000   $1,078,000   $2,225,000   $3,894,000

  Cost of Goods Sold     354,000    1,116,000    1,237,000    2,738,000

  Gross Profit           499,000     (38,000)      988,000    1,156,000

  Operating Income
   (Loss)               (206,000)  (3,364,000)  (2,538,000)  (7,294,000)

  Net Income (Loss)      $37,000  $(3,387,000) $(2,305,000) $(7,331,000)

  About Paradigm:


Paradigm Medical Industries, Inc., currently develops, manufactures and markets
surgical and diagnostic high-tech, proprietary equipment and consumable products
for the medical industry.  Further information can be found at
http://www.paradigm-medical.com/ or by contacting corporate headquarters at
[phone].

This press release contains statements that, if not verifiable historical fact,
may be viewed as forward-looking statements that could predict future events or
outcomes with respect to Paradigm and its business.  The predictions embodied in
these statements will involve risk and uncertainties and, accordingly, actual
results may differ significantly from the results discussed or implied in such
forward-looking statements. 

DATASOURCE: Paradigm Medical Industries, Inc.



CONTACT:  Paradigm Medical Industries, Inc., [phone]



Web site:  http://www.paradigm-medical.com/ 

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