Prism Medical Ltd Reports Second Quarter 2008 Financial Results

Released on: August 25, 2008, 11:18 am

Press Release Author: Prism Medical

Industry: Healthcare

Press Release Summary: Prism medical announced their second quarter revenues were
$12.6 million compared to $11.0 million in 2007.

Press Release Body: Prism Medical Ltd. ("Prism" or "the Company") (PM:TSX-VEN) today
announced its
results for the second quarter ended May 31, 2008.

Net income for the second quarter of 2008 increased to $1.0 million ($0.15 per share
on a
diluted basis) versus $0.7 million ($0.10 per share on a diluted basis) for the same
in 2007.

During the second quarter of 2008, revenues were $12.6 million compared to $11.0
million in 2007, an increase of 15%.

North American revenues increased 58% in 2008 over 2007 driven by strong institutional
demand for our products serviced by additional sales personnel and the positive
effect of
the acquisition of Patient Lifts of New England. UK sales volume increased 8%,
offset by
an exchange rate decline of 11%.

Gross profit increased $902 (19%) in 2008 over 2007 driven by the sales increase and
cost efficiencies resulting from increased UK production.

Earnings per share on a diluted basis for the six months ended May 31, 2008 were
an increase of 107% over the same period in the previous year.

Andrew McIntyre, Chairman and CEO of Prism stated, "The second quarter of 2008 was
very positive for the Company as we saw continued institutional demand for our
products, improved manufacturing efficiencies and greater geographic coverage. Further
improvements in US sales representation and dealer market share should result in
profitable growth."

The board of directors of Prism has approved payment on August 29, 2008 of a dividend
of 8 cents per common share to the shareholders of record on August 15, 2008. A
dividend policy has been established to pay a quarterly dividend of 4 cents per common
share, although this dividend policy may change based on future circumstances.

Prism Medical Ltd. is a provider of durable medical equipment and related services
to the mobility disadvantaged in Canada, the USA and the United Kingdom (UK).
Operating since 1996, Prism services the mobility disadvantaged wherever they

Web Site:

Contact Details: 75 Sharer Rd
Unit 1
Vaughan, Ontario Canada
L4L 8Z3
p - 950 850-1454
f - 950 850-2364

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