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Pacific Biometrics Inc. Reports First Quarter Operating Results
Date:11/16/2009

argins improved and our SG&A expense ratio declined relative to the prior-year period, we still recorded an operating loss in this year's first quarter. This reflects, in large part, the significant and ongoing investments we are making in our clinical biomarker services business, which we continue to see as a major growth opportunity going forward. Despite the decline in first quarter net income, I am pleased to report that PBI continued to generate positive cash flow from operating activities during the three months ended September 30, 2009."

"Based on our internal financial metrics, we are optimistic that our revenues for fiscal 2010 will exceed the record revenues achieved in fiscal 2009," Mr. Helm continued. "We are encouraged by the substantial requests for proposals received from new and existing customers in recent months, and I am confident that PBI's scientific, technical and operational capabilities, combined with a more aggressive business development strategy, will allow us to capture our fair share of these new contract opportunities. Also, our continued focus on biomarkers is gaining traction in a market that is experiencing significant growth in outsourced lab services and in which there are as yet no dominant industry leaders. To further capitalize on these trends, we are investing in new instrument platforms that will allow us to broaden our therapeutic areas of expertise and open up additional growth opportunities."

For additional information, see Pacific Biometrics' Annual Report on Form 10K for the fiscal year ended June 30, 2009 and the Quarterly Report on Form 10-Q for the three months ended September 30, 2009, available on the SEC's website at www.sec.gov.

Investor Conference Call

Pacific Biometrics, Inc. will host an investor conference call to discuss its first quarter FY2010 operating results, along with other relevant subjects at 4:15 p.m. EST (1:15 p.m. PST) today -- Monday, Nov
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SOURCE Pacific Biometrics, Inc.
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