CARESIDE Reports First Quarter Results

Revenues, Expanded Test Menu and Increased Marketing Efforts are Company Highlights


CULVER CITY, Calif., May 5, 2000 (PRIMEZONE) -- CARESIDE, Inc. (AMEX:CSA) announced a net loss for the first quarter ended March 31, 2000 of $(4.2) million or $(0.54) per share compared to a net loss of $(3.0) million or $(0.59) per share for the same period last year. The Company continued its transition from R&D to sales and marketing with the significant increase in revenue from the placement of Careside's hematology device, the Careside H-2000.

During the first quarter, the Company strengthened its balance sheet with a private placement of common stock, raising $10.4 million through various institutional investors. The proceeds of the private placement will be used primarily to expand marketing efforts and for working capital. The Company also announced clearance of its Direct Bilirubin test, the approval of a third patent covering its reagent cartridge technology and completion of the California's initial manufacturing quality audit.

"Careside and its CARESIDE Analyzer(tm) have begun to receive a lot of attention in various trade journals," said Chairman and CEO W. Vickery Stoughton. "During the first quarter, the Company has been working hard with a few select customers to identify and correct software and system bugs, and this process is now complete. Utilizing the funds from the private placement, the attention from the trade press and our marketing knowledge, we can now concentrate on ramping-up our efforts in placing the CARESIDE Analyzer(tm) with a broader focus."

CARESIDE, Inc. markets a proprietary blood testing system including its CARESIDE Analyzer, a companion hematology system called the H-2000 Hematology Analyzer, and its CARESIDE Connect record management system linking the two devices into customers' laboratory or patient information systems. The CARESIDE Analyzer provides a cost-effective and efficient means of measuring blood chemistry, electrochemistry, and coagulation function at the patient's point of care by producing accurate test results within 15 minutes.

Safe Harbor: Statements in this press release regarding CARESIDE Inc. which are not historical facts, including statements regarding expansions and international sales in 2000 are forward-looking statements that involve risks and uncertainties. Key factors which may impact these statements include technological hurdles, study site efficiency, and other challenges inherent in product research, development, manufacturing and marketing, and the other factors discussed in the Company's prospectus filed April, 2000. 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.


                              Careside, Inc.
                     Abbreviated Statement of Operations
                             (in thousands)
 
 
                                             Three months ended
                                                 March 31,
                                              1999       2000
 
 
 SALES, net                                  $     -    $   283
 COST OF SALES                                     -        143
                                             --------   --------
 GROSS PROFIT                                      -        140
 
 OPERATING EXPENSES:
     Research and development costs            2,230      2,464
     Sales and marketing                         151        944
      General and administrative                 258        721
                                             --------   --------
 
              Total operating expenses         2,639      4,129
                                             --------   --------
 OPERATING LOSS:                              (2,639)    (3,989)
 
 GOODWILL AMORTIZATION                             -       (142)
 INTEREST INCOME (EXPENSE):                     (359)       (69)
                                             --------   --------
 
 NET LOSS                                    $(2,998)   $(4,200)
                                             ========   ========
 Dividend payable on Preferred Stock         $     -    $    26
                                             --------   --------
 
 NET LOSS to common shareholders             $(2,998)   $(4,226)
                                             ========   ========
 NET LOSS PER SHARE                          $ (0.59)   $ (0.54)
                                             ========   ========
 Weighted average number of common stock
   and common stock equivalents outstanding    5,084      7,867
                                             ========   ========
 
 
 
                     Abbreviated Balance Sheets
                          (in thousands)
 
                                 December 31, 1999   March 31, 2000
                                 -----------------   --------------
 
 
 ASSETS
 CURRENT ASSETS
      Cash and cash equivalents          $ 4,905             11,261
      Accounts receivable                     78                151
      Inventories                            549              1,079
      Prepaid expenses and other             103                258
 PROPERTY AND EQUIPMENT (net)              5,939              6,406
 DEFERRED OFFERING COSTS                       2                  -
 DEPOSITS                                     15                 15
 GOODWILL (net)                            2,798              2,656
 
      Total Assets                      $ 14,389           $ 21,825
                                        ========           ========
 LIABILITIES AND STOCKHOLDER'S EQUITY 
 CURRENT LIABILITIES                       4,215              6,030
                                        --------           --------

 LONGTERM LIABILITIES                      1,095              1,375
                                        --------           --------
 
 STOCKHOLDER'S EQUITY                      9,079             14,420
                                        --------           --------
      Total liabilities and 
        stockholder's equity            $ 14,389           $ 21,825
                                        ========           ========


            

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