Sonomax Hearing Healthcare Inc.

Sonomax Hearing Healthcare Inc.

August 29, 2005 15:07 ET

Sonomax Reports Second Quarter Results

MONTREAL, QUEBEC--(CCNMatthews - Aug. 29, 2005) - Sonomax Hearing Healthcare, Inc. (TSX VENTURE:SHH)(the "Company"), a leader in the development and deployment of intra-ear technology for hearing protection, hearing enhancement, and other auditory applications, today reported a net loss of $1,475,741 ($0.03 per share) on sales of $323,870 for quarter ended June 30, 2005, versus a net loss of $1,830,053 ($0.04 per share) on sales of $113,000 for the quarter ended June 30, 2004. The decrease in the net loss is primarily attributable to the increase in sales of $210,870 and the decrease in Selling and Marketing expense of $229,166.

Results for the period of six months ending June 30, 2005 were a net loss of $2,809,861 ($0.06 per share) on sales of $550,075, versus a net loss of $2,895,210 ($0.06 per share) on sales of $359,363 for the same period last year.

1. Year to date revenue ($550,075) for the six months ended June 30,
2005 exceeded total revenue for the entire year ended December 31,
2004 ($480,125). Our direct sales force in Quebec and Ontario,
along with our distribution channel in the United States allowed
us to grow our customer base and to experience repeat orders.

2. During the first six months, the Company disbursed $404,000
unrelated to baseline operations but rather related to the
development of new and improved hearing aids and communication
products. Selling and marketing expenses along with Research and
development expenses related to the development of the new product
lines were allocated to Startup costs as was an allocation of
General operating and administrative expenses was also charged to
Startup costs.

Commented Barry Schwartz, Chairman and CEO of the Company, "We are encouraged by the results of the first six months of this fiscal year. All the signs are that we are moving in the right direction. Just as significantly, we are very enthusiastic about the progress we have made in moving forward hearing and communication products. In the next few months, I expect those products to be market ready and to become profit generators for our Company."

About Sonomax

Sonomax Hearing Healthcare Inc. has invented a unique earpiece that is the gatekeeper between sounds and the eardrum.

With its multi-purpose capabilities, it can shut the gate on harmful sounds like workplace noise with unparalleled efficiency, and can also welcome sounds like music and voices with perfect fidelity.

Groundbreaking technological advances in the hearing protection, hearing aid and personal electronics fields currently lack the last piece of the interface that will permit those technologies to achieve their very exciting potentials.

Sonomax's proprietary expansion technology provides exactly instant-fit, custom-made earpiece that delivers a perfect acoustic seal every time, along with computer-generated proof of performance.

Sonomax has the capability of protecting people against hearing loss from harmful noise, and can also be the ultimate sound conduit for people with hearing aids and those using personal electronic auditory devices, for communication or to listen to music.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release contains certain forward-looking statements that reflect the current views and/or expectations of Sonomax Hearing Healthcare Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

Contact Information

  • Sonomax Hearing Healthcare Inc.
    Alvin Schacter
    Chief Financial Officer & Senior Vice-President Finance
    (514) 932-2674 or 1-877-SONOMAX (Toll Free)