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Nyer Medical Group, Inc. Reports Revenues of $19.0 Million for the Quarter Ended December 31, 2008
Date:2/19/2009

s is estimatable for dispensing fees.

Selling, general and administrative expenses for the second quarter of fiscal 2009 increased $0.3 million or 7.2% to $4.9 million from $4.6 million as reported for the second quarter of fiscal 2008 primarily due to increased payroll costs related to the four newly opened locations partially offset by a decrease in administrative expenses.

"The reorganization of Nyer Medical and streamlining of operations continued into the second quarter of fiscal 2009," President and CEO Mark Dumouchel said. "During the second quarter of fiscal 2009, we sold our lower margin Topsfield location and entered into a contract with the East Boston Neighborhood Health Center to assume management of the Health Center's pharmacy already in operation, which immediately became our highest volume location in terms of prescriptions dispensed. As of December 31, 2008, we had successfully integrated the pharmacy dispensing software platform, the robotic dispensing unit, the work-flow software, and the point of purchase software. While the process was taxing on operational resources, we believe the changes were necessary in order to maximize the long-term profit potential of the pharmacy." Dumouchel further stated, "Our restructuring and growth initiatives have been costly in the short-run but we remain confident that our efforts will prove to be profitable for us and beneficial to our shareholders in the long run."

About Nyer Medical Group

Nyer Medical Group, Inc. is a holding company that through its pharmacy subsidiary operates pharmacies and provides pharmacy management services to various not-for-profit entities in the greater Boston area.

For further information contact Mark Dumouchel (508) 429-8506, extension 16.

Safe Harbor for Forward-Looking Statements

Certain statements contained in this press release are
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SOURCE Nyer Medical Group, Inc.
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