IPICO Inc. announces year end 2007 results



    BURLINGTON, ON, March 6 /CNW/ - IPICO Inc. (TSX-V: RFD) today announced
results for the year ended December 31, 2007 where revenue increased to
$3.2 million from $1.1 million in 2006. Fourth quarter revenue was
$0.6 million compared to $0.3 million in 2006. Gross margin was $1.0 million
for the full year of 2007 compared to $0.5 million in 2006 with $0.2 million
in the fourth quarter of 2007 compared to $0.2 million for the fourth quarter
of 2006. Net loss for the full year was $9.3 million ($0.29 per share)
compared to $6.6 million ($0.27 per share) in 2006. Net loss for the fourth
quarter of 2007 was $2.5 million ($0.06 per share) compared to a net loss of
$2.2 million ($0.09 per share) in 2006.

    
    -------------------------------------------------------------------------
                                                     Year ending December 31
    (000's dollars except per share amounts)               2007         2006
    -------------------------------------------------------------------------
    Revenue                                             $ 3,171      $ 1,079
    Gross margin                                            997          467
    Total operating expenses                              9,351        6,974
    Net loss                                             (9,303)      (6,573)
    Net loss per share, basic and diluted                 (0.29)       (0.27)
    -------------------------------------------------------------------------
    

    The Company's cash and cash equivalents at December 31, 2007 were
$7,914,550 compared with $6,159,203 at December 31, 2006. Subsequent to
December 31, 2007, the Company completed a prospectus financing issuing
5,212,633 units, each unit consisting of one common share of the Company and
one common share purchase warrant, for gross proceeds of $6,255,160. Also,
527,500 warrants were exercised subsequent to December 31, 2007 for gross
proceeds of $448,375.
    The Company's consolidated financial statements for the year ended
December 31, 2007 along with management's discussion and analysis thereon can
be on found on SEDAR at www.sedar.com under the trading symbol TSX-V: RFD.

    ABOUT IPICO Inc.

    IPICO Inc. is an RFID solution supplier with operations in Canada, USA,
South Africa, Europe, Asia and Australia. IPICO produces smart labels, tags
and readers based on the IP-X communication protocol. Its products are
designed to conform to regulatory requirements in most major geographical
regions, to excel at long read range, fast multi-read anti-collision and high
thru-beam read-speeds of dynamic tag populations, and to allow for
multi-reader rollout in close proximity. IPICO's products are used to optimize
the management of products, equipment, people, animals and processes within
the logistics and other value chains. For further information, go to
www.ipico.com.

    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR THE ACCURACY OF THIS RELEASE.

    %SEDAR: 00023515E




For further information:

For further information: Gordon Westwater, President, IPICO Inc., Tel:
(905) 631-6310, Email: gordon.westwater@ipico.com; Ted Irwin, Chief Financial
Officer, IPICO Inc., Tel: (905) 631-6310, Email: ted.irwin@ipico.com

Organization Profile

IPICO INC.

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