E-Z-EM: Earnings News Release Contact: Dennis J. Curtin Chief Financial Officer Phone: 1-800-544-4624, ext. 320 E-Z-EM, INC., ANNOUNCES FIRST QUARTER FISCAL 1999 RESULTS Westbury, New York; October 9, 1998 E-Z-EM, Inc. (AMEX EZM.A and EZM.B) today announced results for the first fiscal quarter ended August 29, 1998. Net earnings increased significantly to $1,470,000, $.15 per share, compared to net earnings of $128,000, $.01 per share, in the same quarter last year. This was despite the fact that net sales were relatively flat, $25,665,000 compared to $25,713,000 in the prior year's first quarter. On a trailing quarter basis, earnings of $.15 per share compared with fourth quarter earnings of $.11 per share. "Both of the Company's operating groups, Diagnostic and AngioDynamics, contributed from improved productivity, lower operating expenses and higher operating profit," said E-Z-EM's Chairman, Howard S. Stern. "In fact, operating profit increased $1.7 million (over 500%) in the first quarter, compared to last year's first quarter. On a trailing quarter basis, operating profit increased to $2,050,000, up 38% over last year's fourth quarter, while basic earnings per share increased to $.15 from $.11. "The most dramatic improvement occurred at AngioDynamics, as operating income increased 168% on a 16% increase in sales. AngioDynamics gross profit increased by ten percentage points due to a number of factors, including improved manufacturing efficiencies in their Queensbury, New York, plant, and increased throughput in Queensbury and our facility in the Republic of Ireland. "Compared to the prior year's quarter, operating expenses declined over $800,000," said Stern. "Part of the decline can be attributed to the completion of certain R & D projects, including initial clinical trials for E-Z-EM's PercuPump CT Contrast Injector which can help detect extravasation, the accidental infiltration of contrast media into tissue surrounding the targeted vein. Lobbying expenses related to passage of new Medicare legislation for colorectal cancer screening are also behind us. These costs helped gain passage of a Medicare bill which include the barium enema x-ray examination. The barium enema is the only "Total Colon Examination" recommended by the American Cancer Society for its value in early diagnosis and prevention of colorectal cancer approved for screening average risk Medicare patients." 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 August 29, 1998, as well as its Annual Report on Form 10-K , may affect the actual results achieved by the Company. FINANCIAL RESULTS OF FIRST QUARTER FOR E-Z-EM, INC. (AMEX-EZM.A AND EZM.B) FIRST QUARTER ENDED ----------------------------- AUG.29,1998 AUG.30,1997 INC.(DEC.) 1998 vs.1997 INCOME STATEMENT DATA: NET SALES DIAGNOSTIC $20,001,000 $20,902,000 (4%) ANGIODYNAMICS $5,817,000 $5,011,000 16% ELIMINATIONS ($153,000) ($200,000) - $25,665,000 $25,713,000 - GROSS PROFIT (LOSS) DIAGNOSTIC $7,842,000 $7,776,000 1% ANGIODYNAMICS $2,841,000 $1,957,000 45% ELIMINATIONS ($14,000) $2,000 - $10,669,000 $9,735,000 10% GROSS PROFIT AS A PERCENT OF SALES 41.6 37.9 - OPERATING EXPENSES DIAGNOSTIC $6,245,000 $6,787,000 (8%) ANGIODYNAMICS $2,382,000 $2,637,000 (10%) ELIMINATIONS ($8,000) - - $8,619,000 $9,424,000 (9%) OPERATING PROFIT (LOSS) DIAGNOSTIC $1,597,000 $989,000 61% ANGIODYNAMICS $459,000 ($680,000) - ELIMINATIONS ($6,000) $2,000 - $2,050,000 $311,000 559% NET EARNINGS $1,470,000 $128,000 1048% EARNINGS PER COMMON SHARE BASIC $.15 $.01 1400% DILUTED $.14 $.01 1300% WEIGHTED AVERAGE COMMON SHARES BASIC 10,044,112 9,926,028 - DILUTED 10,327,066 10,412,892 - ### Ends.