E-Z-EM: Earnings News Release Contact: Dennis J. Curtin Chief Financial Officer Phone: 1-800-544-4624, ext. 320 E-Z-EM, INC., REPORTS FY99 THIRD QUARTER AND NINE MONTH RESULTS IN LINE WITH PRELIMINARY ESTIMATES OPERATING PROFIT IMPROVES OVER $7.3 MILLION FOR QUARTER AND $12.3 MILLION FOR YEAR-TO-DATE Westbury, New York; April 13, 1999 E-Z-EM, Inc., (AMEX EZM.A and EZM.B) today announced results for the third fiscal quarter ended February 27, 1999. The Company reported net earnings of $959,000 on net sales of $26,618,000. Basic and diluted earnings were $.10 and $.09 per share, respectively. In the third quarter of fiscal 1998, the Company reported a net loss of $5,819,000, ($.58) per share, on net sales of $24,385,000. This loss included the write-off of cardiovascular intangible assets and related costs totaling $4,121,000, $(.41) per share, by its AngioDynamics business segment. Exclusive of this write-off, basic earnings per share improved $.27 compared to the third quarter of fiscal 1998. Net earnings for the first nine months of fiscal 1999 were $3,957,000 on net sales of $78,791,000. Basic and diluted earnings were $.39 and $.38 per share, respectively. In the comparable period last year, the Company had a net loss of $7,066,000, ($.71) per share, on net sales of $74,809,000. Basic earnings per share improved $.69 versus the comparable period of last year, exclusive of the cardiovascular write-off. "Operations improved significantly at both our Diagnostic and AngioDynamics segments for the third quarter and the year-to-date compared to last year," said Howard S. Stern, Chairman of E-Z-EM. "Operating profit from combined operations increased by over $7.3 million for the quarter and by over $12.3 million for the nine months. These figures include $4.1 million related to last year's cardiovascular write-off. I am also pleased to announce that this was the fourth consecutive profitable quarter for the Company. Basic earnings of $.10 per share this quarter follow earnings of $.15 in the second and first quarters of fiscal 1999, and $.11 per share in the fourth quarter of fiscal 1998." E-Z-EM is the world's largest manufacturer of contrast agents for gastrointestinal radiology, and, through its wholly-owned subsidiary AngioDynamics, manufactures three types of medical devices: angiographic, therapeutic and stent/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, or visit our corporate web site at www.ezem.com. The statements made in this press release contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations. In addition to the matters described in this release, future actions by the FDA, results of pending or future clinical trials, as well as the risk factors listed from time to time in the Company's SEC reports, including but not limited to its Form 10-Q for the quarter ended February 27, 1999, as well as its Annual Report on Form 10-K , may affect the actual results achieved by the Company. FINANCIAL RESULTS OF THIRD QUARTER FOR E-Z-EM, INC. (AMEX-EZM.A AND EZM.B) THIRD QUARTER ENDED FEBRUARY 27, FEBRUARY 28, INCREASE (DEC.) 1999 1998 1999 VS. 1998 INCOME STATEMENT DATA: NET SALES DIAGNOSTIC $22,086,000 $19,878,000 11% ANGIODYNAMICS $4,670,000 $4,589,000 2% ELIMINATIONS ($138,000) ($82,000) - $26,618,000 $24,385,000 9% GROSS PROFIT (LOSS) DIAGNOSTIC $9,117,000 $6,488,000 41% ANGIODYNAMICS $2,078,000 $1,761,000 18% ELIMINATIONS ($3,000) ($10,000) - $11,192,000 $8,239,000 36% GROSS PROFIT AS A PERCENT OF SALES 42 33.8 - OPERATING EXPENSES BEFORE IMPAIRMENT DIAGNOSTIC $7,058,000 $6,894,000 2% ANGIODYNAMICS $2,494,000 $2,895,000 -14% ELIMINATIONS ($3,000) - - $9,549,000 $9,789,000 -2% IMPAIRMENT OF LONG-LIVED ANGIODYNAMICS ASSETS - $4,121,000 - OPERATING PROFIT (LOSS) DIAGNOSTIC $2,059,000 ($406,000) - ANGIODYNAMICS ($416,000) ($5,255,000) 92% ELIMINATIONS - ($10,000) - $1,643,000 ($5,671,000) - NET EARNINGS (LOSS) $959,000 ($5,819,000) - EARNINGS (LOSS) PER COMMON SHARE BASIC $0.10 ($0.58) - DILUTED $0.09 ($0.58) - WEIGHTED AVERAGE COMMON SHARES BASIC 10,094,421 9,949,328 - DILUTED 10,321,273 9,949,328 - NINE MONTHS ENDED FEBRUARY 27, FEBRUARY 28, INCREASE (DEC.) 1999 1998 1999 VS. 1998 NET SALES DIAGNOSTIC $63,682,000 $61,139,000 4% ANGIODYNAMICS $15,527,000 $14,092,000 10% ELIMINATIONS ($418,000) ($422,000) - $78,791,000 $74,809,000 5% GROSS PROFIT (LOSS) DIAGNOSTIC $26,127,000 $21,918,000 19% ANGIODYNAMICS $7,293,000 $4,801,000 52% ELIMINATIONS ($21,000) ($24,000) - $33,399,000 $26,695,000 25% GROSS PROFIT AS A PERCENT OF SALES 42.4 35.7 - OPERATING EXPENSES BEFORE IMPAIRMENT DIAGNOSTIC $20,430,000 $21,249,000 -4% ANGIODYNAMICS $7,445,000 $8,165,000 -9% ELIMINATIONS ($18,000) - - $27,857,000 $29,414,000 -5% IMPAIRMENT OF LONG-LIVED ANGIODYNAMICS ASSETS - $4,121,000 - OPERATING PROFIT (LOSS) DIAGNOSTIC $5,697,000 $669,000 752% ANGIODYNAMICS ($152,000) ($7,485,000) 98% ELIMINATIONS ($3,000) ($24,000) - $5,542,000 ($6,840,000) - NET EARNINGS (LOSS) $3,957,000 ($7,066,000) - EARNINGS (LOSS) PER COMMON SHARE BASIC $0.39 ($0.71) - DILUTED $0.38 ($0.71) - WEIGHTED AVERAGE COMMON SHARES BASIC 10,085,088 9,933,922 - DILUTED 10,337,958 9,933,922 - # # # End.