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FOR IMMEDIATE RELEASE

CONTACT: CRAIG SMITH

949.951.3800 EXT. 288
csmith@trimedyne.com
 

TRIMEDYNE REPORTS REVENUE AND PROFIT FOR THE QUARTER ENDED MARCH 31, 2004

       May 21, 2004 – Irvine, CA: TRIMEDYNE, INC. (OTCBB “TMED”) today reported a net profit of $149,000 or $0.01 per share, fully diluted, on net revenues from sales and other income received of $1,451,000 for the quarter ended March 31, 2004, compared to a net profit of $207,000 or $0.02 per share, fully diluted, on net revenues from sales and other income received of $1,676,000 for the same quarter of the prior year.

       This represents the Company’s sixth, consecutive, profitable quarter. However, the Company had a loss from operations of $24,000 in the current quarter, compared to an operating profit of $210,000 in the prior year quarter. Proceeds from royalties and the settlement of litigation were $181,000 in the current quarter.

       Revenues in the current quarter were 23% less than in the same period of the prior year, primarily due to a decline in laser sales. However, sales of lasers are expected to increase in the coming quarter, as we intend to expand our laser product offering. With lasers selling for $40,000 to $100,000, an increase or decrease in the number of lasers sold in a quarter can have a significant impact on revenues and profits. Sales of disposable and reusable fiber optic devices remained relatively stable in the quarter ended March 31, 2004, compared to the prior year quarter.

       As a percentage of sales, the Company’s cost of goods was comparable in both quarters, SG&A increased from 35% to 42%, R&D expenses rose to 7% from 2% and gross profit declined to 48% in the current quarter from 50% in the same period of the prior year. A $4,000 provision for income tax was required in the current quarter, while $26,000 in income tax was incurred in the prior year quarter.

       Trimedyne manufactures lasers and proprietary fiber optic devices for a variety of minimally invasive surgical procedures, many of which are performed on an outpatient basis at substantially less cost than conventional surgery.  For product, financial and other information, visit Trimedyne's website, http://www.trimedyne.com.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act:

       Statements in this news release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1993 and Section 21E of the Securities and Exchange Act of 1934. Such statements may involve various risks and uncertainties, some of which may be discussed in the Company's most recent report on Form 10-K-SB and subsequently filed SEC reports. There is no assurance such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

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