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AMICAS Reports Financial Results for the Second Quarter Ended June 30, 2008
Date:8/4/2008

f net (loss) income determined under GAAP to pro-forma EBITDA is included below. Management believes that its pro- forma EBITDA measurement, when viewed in addition to the Company's reported GAAP results, provides an additional meaningful measure of operating performance, enabling investors to more thoroughly evaluate current performance in comparison to past performance. This information will necessarily differ from comparable information that may be provided by other companies and should not be considered in isolation or as an alternative to the Company's operating and other financial information determined under GAAP.

Cash and Cash Flow: AMICAS ended the second quarter of 2008 with a cash, cash equivalents, and marketable securities balance of $53.9 million, no long term debt, and working capital of $49.5 million. For the second quarter ended June 30, 2008, net cash provided by operations was $276,000.

Stock Repurchase: The Company repurchased approximately 6,586,000 shares of its common stock for approximately $17.1 million in the second quarter of 2008.

Fiscal Year-to-Date Financial Highlights

Revenue: Total revenues for the first six months of 2008 were $26.4 million, compared to $24.9 million for the first six months of 2007.

Operating Loss: Operating loss for the first six months of 2008 was $1.8 million, compared to an operating loss of $2.1 million for the first six months of 2007.

Net Loss: The Company's net loss for the first six months of 2008 was $564,000, or $(0.01) per share, compared to net loss of $334,000, or $(0.01) per share, for the first six months of 2007.

For the first six months of 2008, both operating loss and net loss included $618,000 of non-cash stock-based compensation expense and $1.6 million of depreciation and amortization. For the first six months of 2007, both operating loss and net loss included $1.0 million of non-cash stock-based compensation expense, and $1.5 million of deprecia
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SOURCE AMICAS, Inc.
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