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Psychemedics Corporation Announces First Quarter Results
Date:4/30/2008

$0.17 $0.20

DILUTED NET INCOME PER SHARE $0.17 $0.20

DIVIDENDS DECLARED PER SHARE $0.15 $0.125

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING,

BASIC 5,221 5,179

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING,

DILUTED 5,309 5,265

PSYCHEMEDICS CORPORATION

BALANCE SHEETS

(in thousands, except per share amounts)

March 31, December 31,

2008 2007

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents $6,310 $6,097

Short-term investments 2,800 3,875

Accounts receivable, net of allowance for

doubtful accounts of $235 3,570 3,555

Prepaid expenses and other current assets 1,142 499

Deferred tax assets 457 429

Total current assets 14,279 14,455

PROPERTY AND EQUIPMENT:

Equipment and leasehold improvements,

at cost 10,821 10,793

Less - Accumulated depreciation and

amortization (10,062) (9,977)

759 816

DEFERRED TAX ASSETS 231 231

OTHER ASSETS 62 59


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SOURCE Psychemedics Corporation
Copyright©2008 PR Newswire.
All rights reserved

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