Nyer Medical Group Inc.

BANGOR – Nyer Medical Group Inc. (Nasdaq: NYER) on Thursday reported revenues from continuing operations increased 8.3 percent to $61.7 million for fiscal year ended June 30, 2004, as compared to $57 million as reported for the same period ended June 30, 2003.

The company posted a net loss of $425,220 or 11 cents per common share as compared to a net income of $499,137 or 13 cents per common share for the same period last year.

The company had a loss of 1 cent per common share from continuing operations and a loss of 10 cents per common share for discontinued operations for the year ended June 30, 2004.

Karen Wright, president and chief executive officer of Nyer, said, “In September, we trimmed corporate overhead, streamlined operations and consolidated some of our subsidiaries. The result of these changes will save approximately $525,000 annually and will have a positive impact in the second and third quarters of fiscal year 2005.”