Neoprobe Corporation Announces First Quarter Results

DUBLIN, Ohio--(BUSINESS WIRE)--May 1, 2006--Neoprobe Corporation (OTCBB:NEOP - News), a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, today announced consolidated results for the first quarter of 2006. First quarter 2006 revenues were $1.8 million compared to $1.5 million for the first quarter of 2005. In addition, Neoprobe reported a net loss of $928,000 or $0.02 per share for the quarter compared to a loss of $1.0 million or $0.02 per share for the comparable period in 2005. Operating expenses increased to $1.7 million for the first quarter of 2006 from $1.5 million for the first quarter of 2005. The net loss for the first quarter of 2006 included $370,000 in non-cash charges compared to total non-cash charges of $454,000 for the first quarter of 2005. Non-cash charges for both periods consisted primarily of the amortization of warrant and debt-issuance costs related to the financing that was completed in December 2004 in addition to depreciation and amortization of fixed and intangible assets. In addition, the first quarter of 2006 included a non-cash charge of $79,000 related to stock-based compensation expenses as required with the adoption of Statement of Financial Accounting Standards No. 123R "Share Based Payment". Comparative net income and net loss figures for 2005 and prior periods do not include similar charges.

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