NIR Diagnostics announces revisions to third quarter 2006 results

    TSX Venture: NID

    CAMPBELLVILLE, ON, April 26 /CNW/ - NIR Diagnostics Inc. (TSX Venture:
NID), an innovator in the development of handheld medical diagnostic devices
today announced that the Company has reviewed its accounting for the licensing
and royalty agreement entered into in August 2006 and has determined that the
proceeds from licensing of $1,787,200 will be reported as revenue in the third
quarter of 2007, rather than in the third quarter of 2006. The timing of
revenue recognition will thereby coincide with the scheduled delivery date of
the prototype device called for under the agreement. The change in timing of
revenue recognition has no impact on NIR Diagnostics' previously stated cash
flows or cash position for the three and nine months ended September 30, 2006,
and will not impact assumptions the company has made with respect to cash flow
projections. As this is strictly an accounting matter, the announced change to
the third quarter 2006 results will not affect the Company's development
activities or the Company's ability to fulfill its commitment to deliver the
prototype device under the agreement.
    Restated financial statements and amendments to the Management Discussion
and Analysis for the third quarter ended September 30, 2006 have been filed on

    About NIR Diagnostics

    NIR Diagnostics is an innovator in the development of near-infrared
spectroscopic medical diagnostics. The Company has an extensive portfolio of
optical, electronic and algorithm related patents in the field of in-vitro and
in-vivo blood and tissue analysis.

    Forward-looking Statements
    This press release contains forward-looking information. Forward-looking
statements are not guarantees of future performance, and actual results may
differ materially from those expressed or implied in such forward-looking

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Duncan MacIntyre, President, CEO and Executive
Vice Chairman, NIR Diagnostics Inc., (905) 854-5727, (905) 854-5729 Fax,
E-mail:, Internet:; Ross
Marshall, Investor Relations, (416) 815-0700 ext. 238, (416) 815-0080 Fax,
E-mail:, Internet:

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