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Westaim announces 2008 third quarter results
Date:11/12/2008

hareholder value. Westaim disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise. Accordingly, readers are advised not to place undue reliance on forward-looking statements, and should not rely on this information at any date other than the date of this news release. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

THE WESTAIM CORPORATION

Financial Highlights

(unaudited)

(thousands of dollars except per share data)

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Three Months Ended Nine Months Ended

September 30 September 30

Consolidated Statements ------------------- -------------------

of Operations 2008 2007 2008 2007

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Revenue $ 5,466 $ 7,839 $ 15,428 $ 20,656

Loss from continuing operations (1,851) (8,773) (511) (3,996)

Net loss (3,122) (17,138) (12,981) (31,226)

Net loss per common share

- basic and diluted

Continuing operations (0.02) (0.09) (0.01) (0.04)

Net loss (0.03) (0.18) (0.14) (0.33)

Weighted average number of common

shares outstanding (thousands) 94,215 94,098 94,205 94,047

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Three Months Ended Nine Months Ended

September 30 September 30

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

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