E-Z-EM, Inc., Reports Results for Second Quarter Fiscal 2001 WESTBURY, N.Y. Jan. 16, 2001 E-Z-EM, Inc., (AMEX - EZM.A and EZM.B) today announced results for the second fiscal quarter ended December 2, 2000. The Company reported net earnings of $861,000, $.09 and $.08 per share on a basic and diluted basis, respectively, on net sales of $26,261,000. In the second quarter of fiscal 2000, the Company announced net earnings of $1,817,000, $.18 per share, on net sales of $27,973,000. Net earnings for the first six months of fiscal 2001 were $2,703,000 on net sales of $53,565,000. Basic and diluted earnings were $.27 and $.26 per share, respectively. In the comparable period last year, the Company had net earnings of $3,615,000 on net sales of $55,170,000. Basic and diluted earnings were $.36 and $.35 per share, respectively. Commenting on the Company's results, Anthony A. Lombardo, E-Z-EM's President and CEO said, ``AngioDynamics continued its strong growth, especially across new product lines introduced last year. Net sales increased 11% for the quarter and 20% for the year-to-date. Operating profit for the quarter increased over $700,000 from last year's comparable quarter and by almost $600,000 for the six months. ``Results for the Diagnostic segment were adversely affected by soft sales demand both domestically and internationally. This was despite the Company's continued growth in the CT suite with our contrast media products and our PercuPump® CT injector. This product, with its patented contrast extravasation capability, is gaining wide acceptance in the clinical community, especially with the impact of faster CT acquisition times. ``Last year's second quarter had higher than normal sales as customers ordered additional product in anticipation of potential Y2K-related problems. This led to inventory reductions after the year-end of many of our largest customers. Lower international sales for the quarter were due in part to the weakening of the Euro versus the U.S. dollar.'' E-Z-EM, the world's largest manufacturer of contrast agents for gastrointestinal radiology, has developed the only CT injector on the market that can help detect contrast extravasation, the PercuPump(r) with patented EDA? technology. The Company's wholly-owned subsidiary, AngioDynamics, manufactures a wide range of products, including angiographic, thrombolytic, vascular access, and drainage products, as well as stents and medical devices for angioplasty. Enteric Products, Inc., reported as part of the Diagnostic segment, develops, manufactures and markets tests for detection of the ulcer-causing bacterium Helicobacter pylori. For additional information, please contact Frank Kerrigon at 1-800-544-4624, ext. 325, (E-mail: fkerrigon@ezem.com) or visit our corporate web site at www.ezem.com. The statements made in this document contain certain forward-looking statements that involve a number of risks and uncertainties. Words such as ``expects'', ``intends'', ``anticipates'', ``plans'', ``believes'', ``seeks'', ``estimates,'' or variations of such words and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that actual events or results may differ from the Company's expectations. In addition to the matters described above, the ability of the Company to develop its products, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, general market conditions, competition and pricing, as well as the risk factors listed from time to time in the SEC filings of E-Z-EM, Inc., including but not limited to its Form 10-Q for the quarter ended December 2, 2000, as well as its Annual Report on Form 10-K for the year ended June 3, 2000, may affect the actual results achieved by the Company. FINANCIAL RESULTS OF SECOND QUARTER FOR E-Z-EM, INC. (AMEX-EZM.A AND EZM.B) SECOND QUARTER ENDED 2-Dec-00 27-Nov-99 INCREASE (DEC.) 2000 VS. 1999 INCOME STATEMENT DATA: NET SALES DIAGNOSTIC $21,228,000 $23,258,000 -9% ANGIODYNAMICS $5,196,000 $4,693,000 11% ELIMINATIONS ($163,000) $22,000 - $26,261,000 $27,973,000 -6% GROSS PROFIT (LOSS) DIAGNOSTIC $9,417,000 $11,123,000 -15% ANGIODYNAMICS $2,646,000 $2,100,000 26% ELIMINATIONS ($21,000) $11,000 - $12,042,000 $13,234,000 -9% GROSS PROFIT AS A PERCENT OF SALES 45.9 47.3 - OPERATING EXPENSES DIAGNOSTIC $8,530,000 $7,996,000 7% ANGIODYNAMICS $2,330,000 $2,508,000 -7% ELIMINATIONS ($1,000) - $10,860,000 $10,503,000 3% OPERATING PROFIT (LOSS) DIAGNOSTIC $887,000 $3,127,000 -72% ANGIODYNAMICS $316,000 ($408,000) - ELIMINATIONS ($21,000) $12,000 - $1,182,000 $2,731,000 -57% NET EARNINGS $861,000 $1,817,000 -53% EARNINGS PER COMMON SHARE BASIC $0.09 $0.18 -50% DILUTED $0.08 $0.18 -56% WEIGHTED AVERAGE COMMON SHARES BASIC 9,878,226 10,074,062 - DILUTED 10,191,542 10,217,496 - SIX MONTHS ENDED 2-Dec-00 27-Nov-99 INCREASE (DEC.) 2000 VS. 1999 INCOME STATEMENT DATA: NET SALES DIAGNOSTIC $42,931,000 $46,305,000 -7% ANGIODYNAMICS $10,987,000 $9,192,000 20% ELIMINATIONS ($353,000) ($327,000) - $53,565,000 $55,170,000 -3% GROSS PROFIT (LOSS) DIAGNOSTIC $18,766,000 $21,168,000 -11% ANGIODYNAMICS $5,448,000 $4,115,000 32% ELIMINATIONS ($69,000) $34,000 - $24,145,000 $25,317,000 -5% GROSS PROFIT AS A PERCENT OF SALES 45.1 45.9 - OPERATING EXPENSES DIAGNOSTIC *$16,652,000 $15,112,000 10% ANGIODYNAMICS **$5,682,000 $4,931,000 15% ELIMINATIONS ($2,000) - $22,334,000 $20,041,000 11% OPERATING PROFIT (LOSS) DIAGNOSTIC *$2,114,000 $6,056,000 -65% ANGIODYNAMICS **($234,000) ($816,000) 71% ELIMINATIONS ($69,000) $36,000 - $1,811,000 $5,276,000 -66% NET EARNINGS $2,703,000 $3,615,000 -25% EARNINGS PER COMMON SHARE BASIC $0.27 $0.36 -25% DILUTED $0.26 $0.35 -26% WEIGHTED AVERAGE COMMON SHARES BASIC 9,896,618 10,073,626 - DILUTED 10,218,108 10,222,634 - * - includes impairment charge of $450,000 ** - includes loss from sale of AngioDynamics Ltd. of $872,000 -------------------------------------------------------------------------------- Contact: E-Z-EM, Inc. Dennis J. Curtin Chief Financial Officer 1-800-544-4624, ext. 320 dcurtin@ezem.com End