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Psychemedics Corporation Announces 2008 Year End Results
Date:2/18/2009

share $0.03 $0.17 $0.57 $0.85 Dividends declared per share $0.67 $0.15 $1.18 $0.575 Weighted average common shares outstanding, Basic 5,206,158 5,220,326 5,219,141 5,205,032 Weighted average common shares outstanding, Diluted 5,215,743 5,303,474 5,245,713 5,301,620 Psychemedics Corporation Balance Sheet For the Period Ending December 31, 2008 For the period ended December 31, December 31, 2008 2007 ---- ---- ASSETS CURRENT ASSETS: Cash and cash equivalents 6,630,119 6,096,734 Short-term investments -- 3,875,000 Accounts receivable, net of allowance for doubtful accounts of $246,462 in 2008 and $235,337 in 2007 bad debt 3,398,455 3,555,342 Prepaid expenses and other current assets 1,105,886 498,919 Deferred tax asset 449,398 429,472 ------- ------- Total current assets 11,583,858 14,455,467 PROPERTY AND EQUIPMENT Equipment & Leasehold Improvements 10,877,479 10,792,657 Less accumulated depreciation (10,047,755) (9,977,315) ----------- ---------- Net Fixed Assets 829,724 815,342 DEFERRED TAX ASSET 139,021 231,346 OTHER ASSETS 75,
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SOURCE Psychemedics Corporation
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