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PLC Systems Reports Fourth Quarter 2008 Results
Date:3/12/2009

FRANKLIN, Mass., March 12 /PRNewswire-FirstCall/ -- PLC Systems Inc. (OTC Bulletin Board: PLCSF), a company focused on innovative cardiac and vascular medical device-based technologies, today reported financial results for the three and twelve month periods ended December 31, 2008.

Fourth quarter 2008 total revenues were $1,254,000, slightly higher than the $1,248,000 reported in the fourth quarter of 2007. The net loss for the fourth quarter of 2008 was $222,000, or $0.01 per diluted share, compared to a net loss of $819,000, or $0.03 per diluted share, in the fourth quarter of 2007. Cash and cash equivalents at the end of the fourth quarter of 2008 totaled $5,026,000, down from $8,060,000 at the end of the fourth quarter of 2007.

Mark R. Tauscher, president and chief executive officer of PLC Systems Inc., stated, "We are pleased with the steps we took to reduce our net loss in the past quarter, compared to the same period in 2007; this largely reflects our decision this past summer to postpone the U.S. pivotal trial for RenalGuard(R) and focus instead on our European launch. We look forward to receiving the results of the investigator-sponsored clinical trial at the Cardiologico Centrino Monzino (CCM)-University of Milan later this year, and hope that these results will assist us in both the EU launch and in raising additional funding for the U.S. clinical trial to investigate the efficacy of RenalGuard in preventing Contrast Induced Nephropathy (CIN)."

Mr. Tauscher added, "Our core TMR business in the U.S. continues to provide a base level of revenues, primarily through kit sales and ongoing service revenues, offsetting some of our expenses associated with the RenalGuard launch. We are also cautiously pleased by our continued progress internationally, where revenues associated with both TMR and RenalGuard increased for both the fourth quarter and year of 2008 compared with the same periods in 2007. The
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