Careside Reports Second Quarter Results


CULVER CITY, Calif., August 13, 1999 (PRIMEZONE) -- CARESIDE, Inc. (AMEX:CSA) announced a net loss for the second quarter ended June 30, 1999 of $(2.4) million or $(0.44) per share compared to a net loss of $(2.3) million or $(0.48) per share for the same period last year.

For the six months ended June 30, 1999, the Company reported a net loss of $(5.4) million or $(1.02) per share compared to $(4.0) million or $(0.96) per share for the six-month period last year.

The Company also announced clearance of its CARESIDE(TM) Ammonia blood test by the U.S. Food and Drug Administration (FDA), bringing the current number of cleared or exempt tests on the CARESIDE Analyzer(TM) to 33. CARESIDE's ammonia test measures the ammonia concentration in anti-coagulated blood and plasma. This test aids in the diagnosis and treatment of patients with severe liver disorders.

During the quarter, the Company said it made solid progress in planning for the fourth quarter launch of its proprietary blood-testing system 1999 at a cost just less than $10,000. Recent highlights at CARESIDE(TM) include:


   --  The successful completion of a $15 million initial 
       public offering consisting of two million units priced 
       at $7.50.  Subsequently, the units separated into 
       common shares and warrants now trading on the American 
       Stock Exchange.

   --  Pre-selling of the Company's proprietary blood-testing 
       system to physician groups and hospitals across the US.

   --  Addition of hematology tests to the Company's blood-
       testing system, increasing its test menu options to 53 
       and enabling the CARESIDE Analyzer System(TM) to 
       provide for the majority of all blood tests routinely 
       requested by physicians.

   --  Company has initiated FDA clinical studies to validate 
       its product for point-of-care use.  Submission is 
       expected in September. 

   --  FDA clearance on CARESIDE's PT coagulation blood 
       test--making the CARESIDE Analyzer(TM) the first 
       small medical device able to provide chemistry, 
       electrochemistry and coagulation results in one 
       instrument.

   --  FDA clearance on CARESIDE CK, CARESIDE CKMB, 
       CARESIDE %CKMB, tests often used in detecting 
       heart ailments. 

   --  Submission of CARESIDE CO2 and CARESIDE Magnesium 
       tests to the FDA for clearance.

"Becoming a public company," said Chairman and CEO W. Vickery Stoughton, "was undoubtedly our greatest accomplishment for the quarter--providing our Company with the capital it needs for additional product development and marketing.

"We also made great strides in establishing our sales network and in pre-selling our proprietary blood testing system. Most recently, we reached several more milestones by adding the hematology component to our system, and receiving FDA clearance on our coagulation and ammonia tests.

"We believe we are well-poised to execute our strategy of bringing to market the first comprehensive, integrated blood-testing system that may be performed at the same location as the patient and will produce accurate results in less than 15 minutes," concluded Mr. Stoughton.

CARESIDE, Inc., based in Culver City, California is developing a proprietary blood testing system including its CARESIDE Analyzer(TM) a blood diagnostic device, and accompanying record management software. The Company plans to manufacture and distribute the product to health care providers in the U.S and abroad.


                Summary Statement of Operations
        (in thousands except shares and per share data)
                        (unaudited)

                           Three months ended  Six months ended
                                  June 30,         June 30,
                              1999    1998      1999   1998
OPERATING EXPENSES:
 Research and 
      development costs       1,626   2,229    3,856     3,699
 Sales and marketing            118      74      269       127
 General and administrative     277     116      535       287
   Total operating expenses   2,021   2,419    4,660     4,113

OPERATING LOSS:              (2,021) (2,419)  (4,660)   (4,113)

INTEREST INCOME (EXPENSE):    (354)      98     (713)      116

NET LOSS                  $ (2,375) $(2,321) $(5,373) $ (3,998)

Dividend payable on 
    Preferred Stock       $      3  $     -  $     3  $      -

NET LOSS to 
    Common Stockholders   $ (2,378) $(2,321) $(5,376) $ (3,998)

NET LOSS PER SHARE        $  (0.44) $ (0.48) $ (1.02) $  (0.96)

Weighted average number   
  of common stock and 
  common stock equivalents 
  outstanding        5,414,010  4,807,144  5,250,086  4,168,019



                     Summary Balance Sheets
                        (in thousands)

                             June 30, 1999   December 31, 1998
ASSETS                          unaudited
CURRENT ASSETS
   Cash and cash equivalents     $ 12,423     $    3,927
   Inventories                        113              -
   Prepaid expenses and other         156             82

PROPERTY AND EQUIPMENT (net)        4,926          3,386
DEFERRED OFFERING COSTS                 -            498
DEPOSITS                               18             18

Total Assets                     $ 17,636     $    7,911

LIABILITIES AND 
       STOCKHOLDER'S EQUITY

CURRENT LIABILITIES                 4,304          1,717

LONG-TERM DEBT                        751          2,045

STOCKHOLDER'S EQUITY               12,581          4,149

Total liabilities and 
          stockholder's equity    $ 17,636    $    7,911

Safe Harbor: Statements in this press release regarding CARESIDE Inc. which are not historical facts are forward-looking statements that involve risks and uncertainties. Such forward-looking statements include the date of market launch, the price of the instrument, and date of FDA submission. Key factors which may impact on these statements include technological hurdles, studysite efficiency, and other challenges inherent in product research, development, manufacturing, marketing, and other factors discussed in the Company's prospectus. The Company undertakes no obligation to update forward-looking statements. Please see the risk factors listed from time to time in the Company's prospectus and reports on file with the SEC.



            

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