Immunotec Inc. (TSX VENTURE:IMM), a Canadian based company and a leader in the
wellness industry (the "Company"), today released its 2012 second quarter
results for the period ended April 30, 2012.


Second Quarter 2012 Highlights:

(All amounts are in CAD dollars.)



--  Revenue growth of 7.1% in the quarter over the previous year to reach
    $11.4 million and 6.8% year to date. 
    
--  Revenues in Mexico, now the largest segment representing 37% of total
    revenues were up 140% over previous year to reach $4.1 million. 
    
--  Adjusted EBITDA of $457 thousand or 4% of revenues in Q2 and $672
    thousand or 3% of total revenues, year to date. This represents an
    improvement over negative adjusted EBITDA of ($32) thousand as compared
    to prior year. 
    
--  The acquisition of our subsidiary company in Mexico was completed during
    the quarter end and we opened a new Immunotec corporate office in Mexico
    City to support our growth plans. 



"We are pleased with the result but we are determined to reenergize the Canadian
and US segments", said Bob Henry, Immunotec's Chairman and CEO.


Condensed financial results for the second Quarter ended April 30, 2012 are as
follows:




--  During the second quarter, Network sales reached $10.3M in 2012 compared
    to $8.9M for the same quarter in 2011, an increase of 15.9% or $1.4M.
    Other revenues which include revenues of products sold to licensees,
    freight and shipping, charge backs and educational material purchased by
    our network, amounted to $1.1M in Q2 of 2012, a decrease in $0.7M
    compared to $1.8M for the same period in 2011. 
    
--  Margins before expenses, as a percentage of net sales, decrease, in the
    second quarter ending April 30, 2012 to 26.2% from 31.2% for the same
    quarter in 2011. This decrease is primarily attributed to increase is
    certain costs related to a growth in Mexico and the decrease of Export
    sales to licenses which represent a higher margin contribution. 
    
--  Selected expenses in the second quarter of 2012 were $2.8M and were the
    same as the same period a year earlier. They now represent 24.6% of
    sales compared to 26.7% a year earlier. 

--  The adjusted EBITDA, a Non GAAP financial measure, was $457 thousand
    which represent a decrease of $269 thousand over adjusted EBITDA for the
    same period ended April 30, 2011. 
    
--  Net loss for the quarter ended April 30, 2012 totalled $109 thousand,
    compared to a net loss of $7 thousand for the same period a year
    earlier. For the six-month ended April 30, 2012, net loss was $103
    thousand compared to a net loss of $1.3M for the same period in 2011. 
    
--  The total basic and fully diluted earnings per share for the three-month
    period ended April 30, 2012 was $0.00 compared with fully a diluted loss
    per share of $0.02 for the same period in 2011. 
    
--  During the Quarter on April 30 The Company also announced today the
    implementation of a Normal Course Issuer Bid (the "Bid") to purchase for
    cancellation, from time to time, as it considers advisable, up to
    1,000,000 of its issued and outstanding Common Shares. At the end of
    June 15th, 2012, no shares had been purchase from this plan. 
--  Subsequent to the quarter, on June 14th 2012, The Company granted 25,000
    stock options to a recently named Director of the Company and 25,000
    stock options to an executive of the Company. Both grants of options are
    exercisable over 5 years at an exercise price of $0.35. 



ABOUT IMMUNOTEC INC.

Immunotec is a world class business opportunity supported by unique
scientifically proven products that improve wellness. Headquartered with
manufacturing facilities near Montreal, Canada, the Company also has
distribution capacities to support its commercial activities in Canada and
internationally to the United States, Europe, Mexico and The Caribbean.


The Company files its consolidated financial statements, its management and
discussion analysis report, its press releases and such other required documents
on the SEDAR database at www.sedar.com and on the Company's website at
www.immunotec.com. The common shares of the Company are listed on the TSX
Venture Exchange under the ticker symbol IMM.


CAUTION REGARDING FORWARD-LOOKING STATEMENTS: Certain statements contained in
this news release are forward-looking and are subject to numerous risks and
uncertainties, known and unknown. For information identifying known risks and
uncertainties and other important factors that could cause actual results to
differ materially from those anticipated in the forward-looking statements,
please refer to the heading Risks and Uncertainties in Immunotec's most recent
Management's Discussion and Analysis, which can be found at www.sedar.com.
Consequently, actual results may differ materially from the anticipated results
expressed in these forward-looking statements.




Interim Consolidated Statements of Financial Position                       
(Unaudited)                                                                 
(Stated in Canadian dollars)                                                
                                                                            
                                                April 30,       October 31, 
                                                     2012              2011 
                                                        $                 $ 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
ASSETS                                                                      
Current assets                                                              
  Cash                                          2,626,137         2,561,969 
  Trade and other receivables                   1,091,669           659,004 
  Inventories                                   2,932,173         3,324,740 
  Prepaid expenses                                475,227           393,119 
----------------------------------------------------------------------------
                                                7,125,206         6,938,832 
Non-current assets                                                          
  Property, plant and equipment                 6,060,682         5,931,411 
  Intangible assets                             1,803,682         2,000,217 
  Goodwill                                        833,559           833,559 
  Deferred income tax assets                    2,749,283         2,725,367 
  Non-refundable research and                                               
   development tax credits                        337,971           337,971 
----------------------------------------------------------------------------
                                               11,785,177        11,828,525 
----------------------------------------------------------------------------
                                               18,910,383        18,767,357 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
LIABILITIES                                                                 
Current liabilities                                                         
  Payables                                      1,125,219           935,800 
  Accrued liabilities                           2,702,543         2,464,967 
  Provisions                                      563,515           671,201 
  Customer deposits                               497,620           288,192 
  Income taxes                                     65,711            58,576 
  Current portion of long- term debt              115,032           312,320 
----------------------------------------------------------------------------
                                                5,069,640         4,731,056 
                                                                            
Long-term debt                                  2,019,753         2,077,787 
----------------------------------------------------------------------------
                                                7,089,393         6,808,843 
----------------------------------------------------------------------------
                                                                            
EQUITY                                                                      
  Share capital                                 3,465,548         3,465,548 
  Other equity - Stock options                  1,924,886         1,903,039 
  Contributed surplus                          11,337,796        11,337,796 
  Accumulated other comprehensive income          249,742           306,595 
  Deficit                                      (5,156,982)       (5,054,464)
----------------------------------------------------------------------------
                                               11,820,990        11,958,514 
----------------------------------------------------------------------------
                                               18,910,383        18,767,357 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
Interim Consolidated Statements of Changes in Equity                        
(Unaudited)                                                                 
Six-month periods ended April 30,                                           
(Stated in Canadian dollars except for number of shares)                    
                                                                            
                                                        Other               
                                                       equity               
                                                      - Stock    Contributed
                                   Share capital      options        surplus
                    ----------------------------                            
                            Number             $            $              $
----------------------------------------------------------------------------
                                                                            
Balance at November                                                         
 1, 2010                69,994,300     3,465,548    1,894,040     11,337,796
                                                                            
  Net loss for the                                                          
   period                        -             -            -              -
                                                                            
  Foreign currency                                                          
   translation                                                              
   adjustments                   -             -            -              -
----------------------------------------------------------------------------
Total comprehensive                                                         
 loss of the period:             -             -            -              -
                                                                            
Share-based                                                                 
 compensation                    -             -      (11,448)             -
----------------------------------------------------------------------------
                                                                            
Balance at April 30,                                                        
 2011                   69,994,300     3,465,548    1,882,592     11,337,796
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Balance at November                                                         
 1, 2011                69,994,300     3,465,548    1,903,039     11,337,796
                                                                            
  Net loss for the                                                          
   period                        -             -            -              -
                                                                            
  Foreign currency                                                          
   translation                                                              
   adjustments                   -             -            -              -
----------------------------------------------------------------------------
Total comprehensive                                                         
 loss of the period:             -             -            -              -
                                                                            
Share-based                                                                 
 compensation                    -             -       21,847              -
----------------------------------------------------------------------------
                                                                            
Balance at April 30,                                                        
 2012                   69,994,300     3,465,548    1,924,886     11,337,796
----------------------------------------------------------------------------
----------------------------------------------------------------------------

                             Accumulated                                    
                                   other                                    
                           comprehensive                                    
                                  income           Deficit            Total 
                                                                            
                                       $                 $                $ 
----------------------------------------------------------------------------
                                                                            
Balance at November                                                         
 1, 2010                               -        (3,650,834)      13,046,550 
                                                                            
  Net loss for the                                                          
   period                              -        (1,344,477)      (1,344,477)
                                                                            
  Foreign currency                                                          
   translation                                                              
   adjustments                   187,407                 -          187,407 
----------------------------------------------------------------------------
Total comprehensive                                                         
 loss of the period:             187,407        (1,344,477)      (1,157,070)
                                                                            
Share-based                                                                 
 compensation                          -                 -          (11,448)
----------------------------------------------------------------------------
                                                                            
Balance at April 30,                                                        
 2011                            187,407        (4,995,311)      11,878,032 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Balance at November                                                         
 1, 2011                         306,595        (5,054,464)      11,958,514 
                                                                            
  Net loss for the                                                          
   period                              -          (102,518)        (102,518)
                                                                            
  Foreign currency                                                          
   translation                                                              
   adjustments                   (56,853)                -          (56,853)
----------------------------------------------------------------------------
Total comprehensive                                                         
 loss of the period:             (56,853)         (102,518)        (159,371)
                                                                            
Share-based                                                                 
 compensation                          -                 -           21,847 
----------------------------------------------------------------------------
                                                                            
Balance at April 30,                                                        
 2012                            249,742        (5,156,982)      11,820,990 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
Interim Consolidated Statements of Comprehensive Income (Loss)              
(Unaudited)                                                                 
Three-month and six-month periods ended April 30,                           
(Stated in Canadian dollars except for number of shares)                    
                                                                            
                                For the three-month       For the six-month 
                                             period                  period 
                                    ended April 30,         ended April 30, 
                                   2012        2011        2012        2011 
                                      $           $           $           $ 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Revenues                                                                    
  Network sales              10,277,123   8,869,108  20,238,165  17,933,127 
  Other revenue               1,142,964   1,790,657   2,225,090   3,102,285 
----------------------------------------------------------------------------
                             11,420,087  10,659,765  22,463,255  21,035,412 
Variable costs                                                              
  Cost of goods sold          1,935,261   1,705,956   3,791,383   3,691,774 
  Sales incentives - Network  5,407,413   4,660,710  10,371,660   9,430,511 
  Other variable costs        1,088,149     966,101   2,037,160   1,907,905 
----------------------------------------------------------------------------
Margin before expenses        2,989,264   3,326,998   6,263,052   6,005,222 
----------------------------------------------------------------------------
                                                                            
Expenses                                                                    
  Administrative              1,378,453   1,492,271   2,999,778   3,231,700 
  Marketing and selling       1,248,505   1,126,524   2,405,769   2,568,282 
  Quality and development                                                   
   costs                        183,460     222,639     406,133     476,865 
  Depreciation and                                                          
   amortization                 223,658     274,913     463,262     538,402 
  Other expenses                 11,706     (22,869)     21,847     657,625 
----------------------------------------------------------------------------
Operating income (loss)         (56,518)    233,520     (33,737) (1,467,652)
----------------------------------------------------------------------------
                                                                            
  Net finance expenses          124,857     200,610      80,373     269,757 
----------------------------------------------------------------------------
Profit (loss) before income                                                 
 taxes                         (181,375)     32,910    (114,110) (1,737,409)
                                                                            
Income taxes (recovery)                                                     
  Current                        13,298         (19)     15,455       4,684 
  Future                        (85,747)     39,780     (27,047)   (397,616)
----------------------------------------------------------------------------
                                                                            
Net loss                       (108,926)     (6,851)   (102,518) (1,344,477)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Other comprehensive income                                                  
 (loss), net of income tax                                                  
Foreign currency translation                                                
 adjustments                    (57,461)   (153,564)    (56,853)   (187,407)
----------------------------------------------------------------------------
Total comprehensive income                                                  
 (loss) for the period          (51,465)    146,713     (45,665) (1,157,070)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total basic and diluted net                                                 
 profit (loss) per share          (0.00)      (0.00)      (0.00)      (0.02)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Weighted average number of                                                  
 common shares outstanding                                                  
 during the period                                                          
  Basic and diluted          69,994,300  69,994,300  69,994,300  69,994,300 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
Interim Consolidated Statements of Cash Flows                               
(Unaudited)                                                                 
Six-month periods ended April 30,                                           
(Stated in Canadian dollars)                                                
                                                                            
                                                     2012              2011 
                                                        $                 $ 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Operating activities                                                        
Net profit (loss)                                (102,518)       (1,344,477)
Adjustments for:                                                            
  Depreciation of property, plant and                                       
   equipment                                      185,685           231,047 
  Amortization of intangible assets               277,577           307,355 
  Unrealized foreign exchange                     (46,253)          203,706 
  Accreted interest                                     -            35,068 
  Interest expense measured at amortized                                    
   cost                                            39,734            32,775 
  Future income taxes                             (27,047)         (397,616)
  Share- based compensation                        21,847           (11,448)
Interest paid                                     (42,129)          (32,775)
Interest received                                   2,395                 - 
----------------------------------------------------------------------------
Cash received prior to working capital                                      
 variation                                        309,291          (976,365)
Net change in non- cash working capital           422,569          (421,965)
----------------------------------------------------------------------------
Net cash provided by (used in) operating                                    
 activities                                       731,860        (1,398,330)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Investing activities                                                        
  Additions to property, plant and                                          
   equipment                                     (314,823)          (79,660)
  Additions to intangible assets                  (83,057)         (130,677)
----------------------------------------------------------------------------
Net cash used in investing activities            (397,880)         (210,337)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Financing activities                                                        
  Reimbursement of long- term debt                (55,982)                - 
  Reimbursement of demand loan                          -           (83,333)
  Reimbursement of other liability               (200,203)                - 
----------------------------------------------------------------------------
Net cash used in financing activities            (256,185)          (83,333)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
Net increase (decrease) in cash during                                      
 the period                                        77,795        (1,692,000)
Cash at the beginning of the period             2,561,969         2,936,456 
Effect of foreign exchange rate                                             
 fluctuations on cash                             (13,627)          (31,813)
----------------------------------------------------------------------------
Cash at the end of the period                   2,626,137         1,212,643 
----------------------------------------------------------------------------
----------------------------------------------------------------------------

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