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Global Med Technologies(R) Reports Q4 And Year End Results

DENVER, March 9 /PRNewswire-FirstCall/ -- Global Med Technologies®, Inc. (OTC Bulletin Board: GLOB) ("Global Med" or the "Company"), an international e-Health, medical information technology company, today is reporting fourth quarter and year ended December 31, 2009 results.


    Global Med Technologies, Inc. (OTC Bulletin Board: GLOB.OB)
                          Selected Results
                   Three Months Ended December 31, 
                             In (000s) 
                    Except Per Share Information
                                      2009               2008
                                      ----               ----
    Revenues                         $8,113             $6,991
    Depreciation and
     amortization                       375                332
    Loss from operations (1)            (97)              (664)
    Other income (expense)             (166)              (170)
    Pre-tax loss                       (263)              (834)
    Income taxes benefit                 44                131
    Net loss (1)                      $(219)             $(703)
    Basic and diluted net loss
     per share (1)
    Basic                            $(0.01)            $(0.02)
    Diluted                          $(0.01)            $(0.02)
    Weighted average number of
     common shares outstanding
    Basic                            36,381             34,019
    Diluted                          36,381             34,019
    EBITDA (1)                         $278              $(332)
    Global Med Technologies, Inc. (OTC Bulletin Board: GLOB.OB)
                           Selected Results
                        Year Ended December 31, 
                  In (000s) Except Per Share Information
                                     2009               2008
                                     ----               ----
    Revenues                        $31,788            $23,369
    Depreciation and
     amortization                     1,418                794
    Income from operations (1) (2)    2,705                176
    Other income (expense)             (708)              (296)
    Pre-tax income (loss)             1,997               (120)
    Income taxes (2)                   (519)              (299)
    Net income (loss)                $1,478              $(419)
    Basic and diluted net
     income (loss) per share (1)
    Basic                             $0.04             $(0.01)
    Diluted                           $0.03             $(0.01)
    Weighted average number of
     common shares outstanding
    Basic                            35,177             29,914
    Diluted                          44,760             29,914
    EBITDA (1) (2)                   $4,123               $970

(1) Includes $450 thousand in costs related to the potential acquisition of the Company by Haemonetics Corporation ("Haemonetics"). These costs were expensed in the fourth quarter of 2009 and represent estimates.

(2) On September 23, 2002, the Company and, Inc. (" PeopleMed") filed a complaint against Donnie L. Jackson, Jr. (" Jackson") in a lawsuit entitled Global Med Technologies, Inc. v. Donnie L. Jackson, Jr. , et al, El Dorado Superior Court Case No. PC 20020576 (the "Lawsuit").  During 2005, the Company set up a legal accrual in the amount of $1.004 million and expensed the same amount. In 2005, the Company also deposited $1.004 million into escrow related to the Lawsuit. During 2007, the Company was returned the $1.004 million deposit. The Lawsuit was settled in 2009 and claims were released. No amount was paid by Global Med to Jackson or Mediware Information Systems, Inc. ("Mediware") and no amount was paid by Jackson or Mediware to Global Med in connection with such settlement. Jackson made a representation as part of the settlement that he does not have possession of any trade secret or proprietary material of the Company described in its complaint for damages. As a result of the above, the Company reversed the $1.004 million legal accrual and the related expense during the year ended December 31, 2009. This represents a reversal of a non-cash, non-recurring expense as the funds were returned in 2007.


(in thousands)

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