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Patient Safety Technologies Reports Third Quarter 2008 Results
Date:11/24/2008

shares authorized; 16,673 shares issued and outstanding at September 30, 2008; 12,055 shares issued and outstanding at December 31, 2007 5,502 3,978 Additional paid-in capital 35,408 34,320 Accumulated deficit (40,369) (36,567) Total stockholders' (deficit) equity 552 1,743 Total liabilities and stockholders' equity $8,808 $8,174 PATIENT SAFETY TECHNOLOGIES, INC. AND SUBSIDIARY Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share data) For The Three Months Ended For The Nine Months Ended September 30, September 30, 2008 2007 2008 2007 Revenues $880 $213 $1,937 $834 Cost of revenue 622 112 1,342 514 Gross profit 258 101 595 320 Operating expenses: Research and development 87 39 168 91 Sales and marketing 662 418 1,796 1,090 General and administrative 958 764 3,680 2,790 Total operating expenses 1,707 1,221 5,644 3,971 Operating loss (1,449) (1,120) (5,049) (3,651) Other income (expenses): Interest expense (79) (810) (254) (1,414) Change in fair value of warrant liability 1,683 - 1,515 - Realized
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