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Pressure BioSciences, Inc. Reports 70% Revenue Growth for Second Consecutive Quarter
Date:8/14/2012

SOUTH EASTON, Mass., Aug. 14, 2012 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company") today announced financial results for the three and six month periods ended June 30, 2012 and provided a business update.

Total revenue for the second quarter of 2012 was $324,908 compared to $190,686 for the comparable period in 2011, a 70% increase.  Revenue from the sale of Pressure Cycling Technology ("PCT") products and services was $224,384 for the second quarter of 2012 compared to $190,686 for the same period in 2011, an 18% increase.  Grant revenue in the second quarter of 2012 was $100,524; during the same period in 2011, no grant revenue was reported.  The Company installed eight PCT Sample Preparation Systems ("PCT Systems") during Q2 2012 compared to seven during the same period in 2011.  Sales of PCT-based consumables generated revenue of approximately $22,000 for the three months ended June 30, 2012 compared to approximately $20,000 for the same period in 2011, an increase of 10%.

Operating loss for Q2 2012 was $682,790, compared to $842,277 for the same period in 2011, a decrease of approximately 19%. This decrease was primarily due to increased revenue and continued tight controls on spending.  After the exclusion of non-cash charges, operating cash burn for the second quarter of 2012 was approximately $596,000 compared to approximately $794,000 for the second quarter of 2011, a decrease of approximately 25%.  

Total revenue for the six months ended June 30, 2012 was $630,569 compared to $371,329 for the same period in 2011, a 70% increase.  Revenue from the sale of PCT products and services was $389,156 for the six months ended June 30, 2012 compared to $371,329 for the same period in 2011, a 5% increase.  During the first six months of 2012, the Company installed 15 PCT Systems compared to 17 in the same period of the prior year.  Sales of PCT-based consumables gen
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SOURCE Pressure BioSciences, Inc.
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