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MGC Diagnostics Corporation Reports 2013 Third Quarter Operating Results
Date:8/29/2013

rategy was to gain market share."

"We were also happy with the Attachment Rate of new extended service contracts during the quarter.  These contracts, which have terms ranging from one to five years, will result in higher service revenue in future periods once the initial twelve month warranty expires."

"We have been successful in increasing our cash flow. For the nine months, net cash provided by operating activities was $1.3 million, compared to $222,000 for the first nine months of fiscal 2012.  Our cash position remains strong, even after payment of the special, one-time dividend in the 2013 second quarter.  We are pleased with the financial results of the first nine months, and we expect to complete the year on a strong note," concluded Dr. Lehman.

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 income (loss) all fiscal 2012 revenues and expenses associated with its New Leaf business and presented the income from New Leaf activities as "discontinued operations."

Net Operating Loss Carry Forward
At October 31, 2012, 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 Thursday, August 29, 2013 at 4:30 p.m. ET to discuss its financial results for the third 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 www.mgcdiagnostics.com. A replay of the conference call will be available b
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SOURCE MGC Diagnostics Corporation
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