Date:9/17/2007

s that may be infrequent in occurrence or, in management's view, not indicative of the company's continuing operating performance and cash flows. EBITDA and Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, net income, operating income, cash flows from operations or other traditional indications of a company's operating performance or liquidity that are derived in accordance with GAAP. In addition, the company's calculations of EBITDA and Adjusted EBITDA may not be comparable to similarly titled measures being disclosed by other companies, limiting their usefulness as comparative measures. The company discloses EBITDA and Adjusted EBITDA as each is a commonly referred to financial metric used in the investing community to evaluate the performance of companies in our industry. The company believes that disclosure of EBITDA and Adjusted EBITDA is helpful to those reviewing its performance, as EBITDA and Adjusted EBITDA provide information on the company's ability to meet debt service, capital expenditure and working capital requirements, and management believes that EBITDA and Adjusted EBITDA are also useful indicators of the company's operating performance. We present Adjusted EBITDA as a percentage of revenues because management believes it is a useful indicator of the company's operating performance.

Memry Corporation and Subsidiaries

Condensed Consolidated Statements of Income

For the Three Months and Year Ended June 30, 2007 and 2006

(Unaudited)

Three Months Ended June 30, Year Ended June 30,

2007 2006 2007 2006

Revenues $13,129,000 $13,279,000 $51,677,000 $52,588,000

Cost of revenues 9,237,000 8,487,000 35,087,000 32,215,000

Gross profit 3,892,000 4,792,000 16,590,000 20,373,000

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SOURCE Memry Corporation Copyright©2007 PR Newswire. All rights reserved

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