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Patient Safety Technologies Reports Second Quarter 2012 Results
Date:8/10/2012

siness", "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Factors Affecting Future Results" sections of our Annual Report on Form 10-K for 2011, our Quarterly Reports on Form 10-Q and in our other public filings. These documents are available online through the SEC's website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and we have not assumed any duty to update any forward-looking statements.

 PATIENT SAFETY TECHNOLOGIES, INC.Condensed Consolidated Balance Sheets June 30,2012December 31,2011(Unaudited)AssetsCurrent assets:Cash and cash equivalents$

5,845,868$

3,668,524Accounts receivable1,569,5541,307,510Inventories, net3,154,5182,772,117Prepaid expenses41,607180,802Total current assets10,611,5477,928,953Property and equipment, net3,988,9871,691,961Goodwill1,832,0271,832,027Patents, net2,301,6712,464,142Other assets37,46240,463Total assets$

18,771,694$

13,957,546Liabilities and Stockholders' EquityCurrent liabilities:Accounts payable$

4,220,058$

2,808,524Accrued liabilities472,714574,917Deferred revenue1,612,594545,027Total current liabilities6,305,3663,928,468Stockholders' equity Total stockholders' equity12,466,32810,029,078Total liabilities and stockholders' equity$

18,771,694$

13,957,546 PATIENT SAFETY TECHNOLOGIES, INC. Condensed Consolidated Statements of Operations(Unaudited) Three Months EndedSix Months EndedJune 30,June 30,2012201120122011Revenues$

4,403,476$

2,568,770$

7,505,734$

4,539,426Cost of revenue2,548,2471,296,1304,413,8782,337,231Gross profit1,855,2291,272,6403,091,8562,202,195Operating expenses:Research and development141,84224,298289,48453,760Sales and marketing1,084,511674,4162,383,6071,333,452General and administrative1,152,704985,5842,244,5702,057,480Total operati
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SOURCE Patient Safety Technologies, Inc.
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