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PLC Systems Reports First Quarter 2011 Results
Date:5/16/2011

m 10-K for the year ended December 31, 2010, a copy of which is on file with the SEC.

PLC Systems, PLC Medical Systems, PLC, RenalGuard and RenalGuard System are trademarks of PLC Systems Inc.

Novadaq is a trademark of Novadaq Technologies, Inc.

(Financial tables follow)PLC SYSTEMS INC.CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data)

(Unaudited)Three Months EndedMarch 31,20112010Revenues

$
57$
267Cost of revenues

140432Gross profit (loss)

(83)(165)Operating expenses:Selling, general and administrative

1,123801Research and development

73253Total operating expenses

1,1961,054Loss from continuing operations

(1,279)(1,219)Other expense:Interest expense

(46)--Change in fair value of warrant liabilities

(1,476)--Change in fair value of convertible notes

(2,218)--Total other expense

(3,740)--Net loss from continuing operations

(5,019)(1,219)Discontinued operations:Income from discontinued operations

53658Gain on sale of discontinued operations

1,179--Net income from discontinued operations

1,232658Net loss

$(3,787)$  (561)Net loss per weighted average share, basic and diluted:From loss on continuing operations attributable to common
stockholders

$(0.16)$(0.04)From income on discontinued operations

0.000.02From gain on sale of discontinued operations

0.04--Net loss attributable to common stockholders per weighted average
share, basis and diluted

$(0.12)$(0.02)Weighted average shares outstanding:Basic and diluted

30,35130,351CONDENSED BALANCE SHEET(I
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SOURCE PLC Systems Inc.
Copyright©2010 PR Newswire.
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