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Medifast Announces Year-end 2007 Financial Results
Date:3/12/2008

le, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

MEDIFAST, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

As of December 31, 2007 and 2006

(Restated)

2007 2006

ASSETS

Current assets:

Cash and cash equivalents $2,195,000 $1,085,000

Accounts receivable-net of allowance

for doubtful accounts

of $100,000 493,000 448,000

Inventory 9,181,000 8,255,000

Investment securities 1,439,000 1,540,000

Deferred compensation 814,000 673,000

Prepaid expenses and other current assets 2,727,000 2,599,000

Note receivable - current 180,000 174,000

Current portion of deferred tax asset 100,000 90,000

Total current assets 17,129,000 14,864,000

Property, plant and equipment - net 17,031,000 14,020,000

Trademarks and intangibles - net 7,356,000 5,874,000

Deferred tax asset, net of current portion 897,000 517,000

Note receivable, net of current assets 1,212,000 1,355,000

Other assets
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SOURCE Medifast, Inc.
Copyright©2008 PR Newswire.
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