HemaCare Corp. Reports 12% Growth in 2006 Net Earnings on Record Revenue

LOS ANGELES, CA -- (MARKET WIRE) -- March 22, 2007 -- HemaCare Corporation (OTCBB: HEMA) announced today results of operations for the fourth quarter and the year ended December 31, 2006. The Company reported record revenues of $10.7 million for the quarter, an increase of 21% from the prior-year period. Net income of $958,000 for the fourth quarter, or $.11 basic and $.10 fully diluted earnings per share, represented a 49% improvement over the same quarter of 2005. The quarter's net income included a $549,000 net tax benefit resulting from the recognition of deferred tax assets. Pretax income for the fourth quarter of 2006 was $409,000, representing a decline of 39% compared with the same quarter of 2005, primarily from a one-time cost of $123,000 associated with the relocation of the Company's corporate offices and portions of the Company's operations during the quarter.