Lawrence H. N. Kinet
Chairman and CEO
For Immediate Release
AKSYS, LTD. REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER
ENDED JUNE 30, 1997
Lincolnshire, IL, July 23, 1997 - Aksys, Ltd. (Nasdaq/NNM: AKSY), a leader in the development of personal
hemodialysis products and services, today reported financial results for the second quarter ended June 30, 1997.
For the quarter ended June 30, 1997, the Company reported a net loss of $3,781,000, or $0.27 per share,
compared to a net loss of $1,525,000, or $0.14 per share, for the same quarter last year. Operating expenses
increased to $4,374,000 during the second quarter of 1997, compared to $1,850,000 during the second quarter
of 1996. The increase in operating expenses is due to research and development spending, new hires, and
support for the Company's product development efforts. Net interest income increased to $593,000 during the
quarter ended June 30, 1997, compared to $325,000 for the same quarter last year, as a result of the net
proceeds invested from the Company's sale of shares of Common Stock in May 1996.
"We recently took delivery of our first lot of GMP manufactured production prototype PHD(TM) systems which
is an important milestone in preparing the device for clinical trials next year," stated Lawrence H.N. Kinet,
Chairman and CEO of Aksys, Ltd. "Although we believe our financial resources are sufficient to evaluate the
product in the clinic and secure regulatory approval, we have recently taken a number of steps to conserve
For the six months ended June 30, 1997, the Company reported a net loss of $7,252,000, or $0.53 per share,
compared to a net loss of $3,393,000, or $0.30 per share, for the six month period ended June 30, 1996.
Operating expenses increased to $8,486,000 for the six month period of 1997, compared to $3,752,000 for the
year earlier period. Net interest income for the six months ended June 30, 1997 was $1,234,000 compared to