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

182 58,613 ------ ------ Total Assets 12,627,785 15,560,768 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable 644,894 488,640 Accrued expenses 1,268,924 951,242 Deferred revenue 154,080 242,955 ------- ------- Total Liabilities 2,067,898 1,682,837 SHAREHOLDERS' EQUITY: Preferred stock, $.005 par value; authorized 872,521 shares; none outstanding Common stock; $.005 par value; authorized 50,000,000 shares; 5,843,068 shares issued in 2008 and 5,811,982 shares issued in 2007 29,215 29,060 Paid-in capital 27,118,743 26,539,764 Accumulated deficit (6,614,114) (3,527,269) Less - Treasury stock, at cost; 647,304 shares in 2008 and 586,197 shares in 2007 (9,973,957) (9,163,624) ---------- ---------- Total shareholders' equity 10,559,887 13,877,931 Total Liabilities & Shareholder Equity 12,627,785 15,560,768 ========== ==========

    Contact:
    Raymond Ruddy
    Vice President and Controller
    (978) 206-8220
    raymondr@psychemedics.com


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