Psychemedics Corporation Announces Second Quart...(ormation provided by Psychemedics may co...),Health

Date:7/28/2008

ormation provided by Psychemedics may contain forward-looking information that involves risks and uncertainties. In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning earnings, earnings per share, revenues, dividends, future business, growth opportunities, new accounts, customer base, market share, test volume and sales and marketing strategies) may be "forward looking" statements. Actual results may differ from those stated in any forward-looking statements. Factors that may cause such differences include but are not limited to risks associated with the expansion of the Company's sales and marketing team, development of markets for new products and services offered, the economic health of principal customers of the Company, government regulation, including but not limited to FDA regulations, competition and general economic conditions and other factors disclosed in the Company's filings with the Securities and Exchange Commission.

Contact: Jennifer Chmieleski

Vice President and Controller

(978) 206-8220

Jenniferc@psychemedics.com

PSYCHEMEDICS CORPORATION

STATEMENTS OF INCOME

(in thousands, except per share amounts)

UNAUDITED

Three Months Ended Six Months Ended

June 30, June 30,

2008 2007 2008 2007

Revenue $6,211 $6,497 $11,920 $12,214

Cost of revenue 2,435 2,387 4,822 4,842

Gross profit 3,776 4,110 7,098 7,372

Expenses:

General and administrative 1,095 1,029
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SOURCE Psychemedics Corporation Copyright©2008 PR Newswire. All rights reserved

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