VAUDREUIL-DORION, QUEBEC--(Marketwire - Sept. 17, 2012) - Immunotec Inc. (TSX VENTURE:IMM), a Canadian based company and a leader in the wellness industry (the "Company"), today released its 2012 Third quarter results for the period ended July 31, 2012.

Third Quarter 2012 Highlights:

(All amounts are in CAD dollars.)

• Network sales reached $11.7M, an increase of 23.1% as compared to the same period in the previous year.
  
  
• Total Revenue reached $13.0M an increase of 22.7% as compared to the same period of the previous year.
  
  
• Expenses as a percentage of total revenues improved to 24.2% as compared to 26.0% of total sales for the same quarter last year.
  
  
• Adjusted EBITDA increased to $628 thousand or 4.8% of total revenues, compared to $283 thousand or 2.7% of total revenues over the same quarter last year. This represents a major improvement over the prior year.
  
  
• Net profit of $265 thousand, compares favorably to $107 thousand for the same period a year earlier.
  

"This was the largest quarterly revenue ever recorded for Immunotec" said Bob Henry, Immunotec's Chairman and CEO. "We have been able to recruit nearly 30,000 new consultants over the last nine months, representing an increase of 40% over prior year. This is an affirmation of the strength of our compensation plan and the opportunity that we provide to our Consultants."

Condensed financial results for the third quarter and year-to-date period, ended July 31, 2012 are as follows:

• During the third quarter, Network sales reached $11.7M in 2012 as compared to $9.5M for the same period in 2011, an increase of 23.1% or $2.2M. Other revenues which include revenues of products sold to licensees, freight and shipping, charge backs and educational material purchased by our network, were $1.3M in Q3 of 2012, a small increase of $0.2M, as compared to $1.1M for the same period in 2011.
  
  
• After nine months, Network sales reached $32.0M in 2012 as compared to $27.5M for the same period in 2011, an increase of 16.4% or $4.5M. Other revenues amounted to $3.6M in 2012, a decrease of $0.6M, directly attributable to a reduction in export sales, compared to $4.2M for the same period last year.
  
  
• Sales incentives are the most significant expense and consist of commissions, performance bonuses and other discretionary incentive cash bonuses to qualifying distributors. During the quarter, the Company paid $5.9M in sales incentives for an average of 50.0% of total Network sales and the same percentage as the last year. For the nine-month period ended July 31, 2012, the Company paid $16.2M in sales incentives for an average of 50.8% of total Network sales this represents a small decline as compared to 51.7% for the same period in 2011.
  
  
• Margin before expenses, as a percentage of net sales, increased in the third quarter ending July 31, 2012 at 29.2% as compared to 29.0% for the same quarter in 2011. For the nine-month period ended July 31, 2012, the Company recorded an average of 28.4% of total Revenues and a small decline compared to 28.7% for the same period in 2011.This decrease is primarily attributed to a reduction in Export sales to licensees which usually provide a higher contribution margin.
  
  
• Selected expenses in the third quarter of 2012 were $3.2M as compared to $2.8M for the same period in 2011. They now represent 24.2% of total revenues as compared to 26.0% of total revenues a year earlier. For the nine-month period ended July 31, 2012, operating expenses were $9.0M representing 25.3% of total revenues compared to 28.5% of total revenues for the same period a year earlier.
  
  
• The adjusted EBITDA, a non GAAP financial measure, for the three-month period ended July 31, 2012, was $628 thousand which represents an increase of $345 thousand or 122% over adjusted EBITDA for the same period ended July 31, 2011. For the nine-month period ended July 31, 2012, adjusted EBITDA was $1.3M which represents an improvement of $1.0M or 425% over adjusted EBITDA for the same period in 2011.
  
  
• Net profit for the quarter ended July 31, 2012 totalled $265 thousand, as compared to a net profit of $107 thousand for the same period a year earlier. For the nine-month period ended July 31, 2012, net profit was $162 thousand as compared to a net loss of $1.2M for the same period in 2011. This net improvement, after nine months in 2012, over the previous year reducing the net loss by $1.3M resulted primarily due from revenue growth in Mexico which mitigated other jurisdiction decreases while reducing certain corporate expenses.
  

About Immunotec Inc.

Immunotec is a world class business opportunity supported by unique scientifically proven products that improve wellness. Headquartered with manufacturing facilities near Montreal, Canada, the Company also has distribution capacities to support its commercial activities in Canada and internationally to the United States, Europe, Mexico and the Caribbean.

The Company files its consolidated financial statements, its management and discussion analysis report, its press releases and such other required documents on the SEDAR database at [ www.sedar.com ] and on the Company's website at [ www.immunotec.com ]. The common shares of the Company are listed on the TSX Venture Exchange under the ticker symbol IMM.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS: Certain statements contained in this news release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Immunotec's most recent Management's Discussion and Analysis, which can be found at [ www.sedar.com ]. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.