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

$15,331 $15,561

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable $337 $489

Accrued expenses 1,013 951

Deferred revenue 212 243

Total current liabilities 1,562 1,683

SHAREHOLDERS' EQUITY:

Preferred stock, $0.005 par value;

873 shares authorized and none

outstanding - -

Common stock, $0.005 par value;

50,000 shares authorized,

5,815 shares issued in 2008 and 5,812

shares issued in 2007 29 29

Paid-in capital 26,660 26,540

Accumulated deficit (3,422) (3,527)

Less - Treasury stock, at cost;

607 shares in 2008 and 586 shares

in 2007 (9,498) (9,164)

Total shareholders' equity 13,769 13,878

$15,331 $15,561


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SOURCE Psychemedics Corporation
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