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MGC Diagnostics Corporation Reports 2013 First Fiscal Quarter Operating Results
Date:3/5/2013

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Dr. Lehman continued, "In January 2013, Denver-based National Jewish Health, known worldwide for treatment of patients with respiratory, cardiac, immune and related disorders, and for groundbreaking medical research, selected MGC Diagnostics as its preferred provider of cardiopulmonary diagnostic technology and equipment. We are proud that an internationally renowned institution the caliber of National Jewish has selected our technology as its preferred option. This was an important competitive win for MGC Diagnostics and marks an important point in the Company's history as we transition into a leading innovator and aggressive sales and marketing organization. I believe this sets the stage for MGC Diagnostics to attract other leading cardiorespiratory institutions to partner with us. We firmly believe there are other significant opportunities in 2013 and beyond."

Discontinued Operations
On August 28, 2012, the Company completed the sale of the assets of its New Leaf business to Life Time Fitness, Inc. for $1.235 million. As a result, the Company has reclassified its results for prior periods to eliminate from its statement of comprehensive loss all fiscal 2012 revenues and expenses associated with its New Leaf business and presented the income (loss) from New Leaf activities as "discontinued operations."

Net Operating Loss Carry Forward
At January 31, 2013, the Company had federal net operating loss carry forwards of approximately $14.5 million, not subject to IRC annual limitations on use.  These loss carry forwards will expire in years 2018 through 2032.

Conference Call
The Company has scheduled a conference call for Tuesday, March 5, 2013 at 4:30 p.m. ET to discuss its financial results for the first quarter of fiscal year 2013.

Participants can dial (877) 317-6789 or (412) 317-6789 to access the conference call, or listen via a live Internet webcast on the Company's website at

SOURCE MGC Diagnostics Corporation
Copyright©2012 PR Newswire.
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