5/13/2004
2004 First Quarter Earnings

Three months Ended March 31
2004
2003
Total Revenue
$1,130,526
$737,617
Operating Revenues
$408,248
$218,683
Net Income (loss)

$19,764

$(274,585)
Weighted Average Number of Shares Outstanding
4,633,659
4,656,584
Equivalent Share
$0.00)
$(0.06)

New York , NY , May 13, 2004 - Daxor Corporation (AMEX: DXR), a medical instrumentation and biotechnology company, today announced first quarter earnings for 2004. For the three months ended March 31, 2004 total revenues increased by 53% to $ 1,130,526 from $ 737,617 in 2003. Operating revenues increased by 87%to$ 408,248 in 2004 from $ 218,683 in 2003. Total Cost and Expenses increased by 10% in 2004 to $1,091,757 vs. $ 990,652 in 2003. This was related to increased marketing efforts and research and development expenses. The Company anticipates that the sales of the BVA-100 Blood Volume Analyzers and kits will become the major source of income for the Company. The Company plans to continue expanding its sales and marketing force, which currently consists of 12 salesmen and 4 support personnel. At March 31, 2004 the Company had total assets of $ 50,130,886 with shareholders’ equity of $ 37,537,441 as compared to total assets of $ 39,272,928 with shareholders’ equity of $ 31,529,228 at March 31, 2003 . Despite increasing its expenses, the Company has significantly increased its financial base as compared to one year ago.

Daxor Corporation manufactures and markets the BVA-100, a semi-automated Blood Volume Analyzer. The BVA-100 is used in conjunction with a single use diagnostic kit, and measures blood volume to within a 98% accuracy. For more information regarding Daxor Corporation's Blood Volume Analyzer BVA-100, visit Daxor's website www.Daxor.com.


 
 
For more infomation, please contact:
Richard Dunn
Director of Operations
212-330-8502
Diane Meegan
Investor Relations
212-330-8512