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Audiotech reports third quarter profit Mr. Osvaldo (Ozzie) Iadarola reports,.

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M2 PRESSWIRE-31 August 2005-Audiotech Healthcare Corporation: Audiotech reports third quarter profit Mr. Osvaldo (Ozzie) Iadarola reports,(C)1994-2005 M2 COMMUNICATIONS LTD

RDATE:30082005

Kamloops, British Columbia CANADA - Audiotech Healthcare Corporation (AUD - TSX Venture), is pleased to report its operating results for the third quarter of fiscal 2005.

The third quarter of fiscal 2005 was highlighted by numerous corporate activities aimed at moving the company forward in its next stage of growth, including negotiations with respect to a number of potential acquisitions and mergers, and discussions exploring possible joint ventures related to roll-out the new regional hearing & balance center concept in other U.S. locations.

During the quarter, management had to make a difficult decision to cancel the proposed acquisition of a 25% equity stake in the Lobe Purchasing Group Inc. Despite lengthy negotiations and the best efforts of both parties, unforeseen complexities in the introduction of Audiotech's clinics to the Lobe purchasing network created a risk profile that management could not accept under the framework of the original deal.

While the company is not yet in a position to announce the completion of a definitive agreement with respect to any other acquisition or new clinic opening, strong progress was made during the quarter on both fronts and management hopes to be in a position to make such announcements shortly as negotiations and plans progress.

On a clinic operations front, business volume was generally strong during the quarter, resulting in a modest operating profit, despite significant non-recurring costs associated with the opening of the new Hearing & Balance Center in Idaho.

Statement of Income - Quarterly...

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