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Avitar Reports Fourth Quarter and Fiscal Year 2007 Financial Results
Date:12/28/2007

for the Hydrasorb(R) wound dressing products, increases in interest and financing costs of $109,000 related to the long-term debt borrowings undertaken during fiscal 2007, a reduction in non-cash income of $360,000 resulting from changes in fair market value of derivative securities and warrants, offset in part by lower operating expenses of $696,000 resulting from the reduced sales volume and an expense reduction program implemented in April 2007 and a decrease in the loss from discontinued operations of $194,000.

Peter P. Phildius, Chairman and CEO commented, "Despite our capital constraints we continue our efforts to grow the Company. As previously reported, we are positioning our oral fluid, drugs of abuse product line, Oralscreen, to address the needs of larger employers across several industry sectors. Particularly in the construction vertical market where the incidence of drug abuse has reached as high as 20%, we are beginning to see traction from our sales and marketing efforts."

Mr. Phildius continued, "As we have previously noted, our foam business continues to be negatively impacted by the lack of sales by the new distributor of our Hydrasorb product line. We are working to develop new distribution channels for Hydrasorb and, in addition, we are expanding our customer base in the foam product area to reduce our dependence in the future on our branded Hydrasorb product line."

ABOUT AVITAR

Avitar, Inc. develops, manufactures and markets innovative and proprietary products in the oral fluid diagnostic market, disease and clinical testing market, and customized polyurethane applications used in the wound dressing industry. Oral fluid diagnostics includes the estimated $1.5 billion drugs-of- abuse testing market, which encompasses the corporate workplace and criminal justice markets. Avitar's products include ORALscreen(TM), the world's first non-invasive, rapid, onsite oral fluid test for drugs-of-abuse. Additionally, Avitar manuf
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SOURCE Avitar, Inc.
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