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Psychemedics Corporation Announces Record Revenues For 2012; Declares 66th Consecutive Quarterly Dividend

n>Weighted average common shares outstanding, basic

5,272,4285,235,4225,260,3205,229,646Weighted average common shares outstanding, diluted


Psychemedics Corporation
Balance SheetsDecember 31,December 31,20122011ASSETS Current Assets:Cash and cash equivalents

$3,065,785$5,564,233Accounts receivable, net of allowance for doubtful accountsof $121,583 in 2012 and $169,191 in 2011

4,620,7684,490,976Prepaid expenses and other current assets

823,274565,508Income tax receivable

854,212564,083Deferred tax assets209,877315,501Total Current Assets

9,573,91611,500,301Fixed Assets, net of accumulated amortization and depreciationof $4,395,605 in 2012 and $11,026,278 in 2011

4,201,4092,063,377Other assets

345,293237,174Total Assets

4,120,618$  13,800,852LIABILITIES AND SHAREHOLDERS' EQUITYCurrent Liabilities:Accounts payable

$669,789$961,844Accrued expenses

1,413,5411,321,856Total Current Liabilities

2,083,3302,283,700Deferred tax liabilities, long-term

814,619482,523Total Liabilities

2,897,9492,766,223Commitments and ContingenciesShareholders' Equity:Preferred-stock, $0.005 par value, 872,521 shares authorized,no shares issued or outstanding

----Common stock, $0.005 par value; 50,000,000 shares aut

SOURCE Psychemedics Corporation
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