Thursday, May 30, 2013

Theralase Releases Financial Results for First Quarter 2013

Toronto, Ontario – May 30, 2013, Theralase Technologies Inc. (TSXV: TLT) released its first quarter 2013 financial results today, demonstrating an increase in profitability by 27% year over year, while successfully advancing its patented therapeutic laser and cancer destruction technologies .

Total revenue for the three months ended March 31, 2013 decreased to $342,900 from $448,359 for the same period in 2012, a 24% decrease.

Selling expenses decreased by 42%, to $109,391 from $188,390 for the same period in 2012. The percentage decrease was due to reduced spending on salaries on sales personnel and a reduction in marketing costs. 

Administrative expenses decreased by 19% to $249,767 from $309,213 for the same period in 2012.  The decrease in administrative expenditures is due to reductions in administrative personnel compensation, stock based compensation and rent. 

Research and development costs decreased to $199,597 from $249,158 for the same period in 2012. This represents a 20% decrease in expenditures, due to the approaching completion of research and development costs of the patented TLC-2000 therapeutic laser technology. 

The net loss for three month period ended March 31, 2013 was $332,435, which included $56,829 of net non-cash expenses compared to a net loss in 2012 of $453,285, which included $84,313 of net non-cash expenses, demonstrating an improvement of 27% year over year.

The net loss is a reflection of the ongoing commitment of Theralase to invest in the next level of therapeutic laser and cancer destruction technologies, from existing therapeutic laser sales. 

“Theralase is preparing for the launch of its next generation patented TLC-2000 biofeedback therapeutic laser technology in 4Q2013 that will revolutionize the therapeutic laser industry,” stated Roger Dumoulin-White, President and CEO of Theralase.  “In addition our cancer technology has evolved past the proof of concept stage and is now being readied for investigation in the destruction of bladder cancer in humans in 2014.

About Theralase Technologies Inc.

Theralase Technologies Inc. designs, manufactures and markets patented, superpulsed laser technology used in healing injured tissue and destroying cancer.  Theralase technology is safe and effective in eliminating pain, reducing inflammation and accelerating tissue regeneration of numerous nerve, muscle and joint injuries. Theralase is actively developing patented technology that is able to target and destroy cancers, bacteria and viruses when light activated.

The complete interim consolidated financial statements and MD&A for three month period ending March 31, 2013 may be viewed at www.theralase.com and www.sedar.com.

This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy of this release.

For More Information, please contact:

Roger Dumoulin - White,                                                                  
President & CEO                                                                                
416-699-LASE (5273) ext. 225                                                                       
rwhite@theralase.com

Kristina Hachey
Chief Financial Officer
416-699-LASE (5273) ext. 224
khachey@theralase.com                                                                  

Greg Bewsh
Director of Investor Relations
416-699-LASE (5273) ext. 258

gbewsh@theralase.com   

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