Immunotec Inc. (TSX VENTURE:IMM), a Canadian based company and a leader in the
wellness industry (the "Company"), today released its 2012 Third quarter results
for the period ended July 31, 2012.


Third Quarter 2012 Highlights: 

(All amounts are in CAD dollars.) 



--  Network sales reached $11.7M, an increase of 23.1% as compared to the
    same period in the previous year. 
    
--  Total Revenue reached $13.0M an increase of 22.7% as compared to the
    same period of the previous year. 
    
--  Expenses as a percentage of total revenues improved to 24.2% as compared
    to 26.0% of total sales for the same quarter last year. 
    
--  Adjusted EBITDA increased to $628 thousand or 4.8% of total revenues,
    compared to $283 thousand or 2.7% of total revenues over the same
    quarter last year. This represents a major improvement over the prior
    year. 
    
--  Net profit of $265 thousand, compares favorably to $107 thousand for the
    same period a year earlier. 



"This was the largest quarterly revenue ever recorded for Immunotec" said Bob
Henry, Immunotec's Chairman and CEO. "We have been able to recruit nearly 30,000
new consultants over the last nine months, representing an increase of 40% over
prior year. This is an affirmation of the strength of our compensation plan and
the opportunity that we provide to our Consultants."


Condensed financial results for the third quarter and year-to-date period, ended
July 31, 2012 are as follows:




--  During the third quarter, Network sales reached $11.7M in 2012 as
    compared to $9.5M for the same period in 2011, an increase of 23.1% or
    $2.2M. Other revenues which include revenues of products sold to
    licensees, freight and shipping, charge backs and educational material
    purchased by our network, were $1.3M in Q3 of 2012, a small increase of
    $0.2M, as compared to $1.1M for the same period in 2011. 
    
--  After nine months, Network sales reached $32.0M in 2012 as compared to
    $27.5M for the same period in 2011, an increase of 16.4% or $4.5M. Other
    revenues amounted to $3.6M in 2012, a decrease of $0.6M, directly
    attributable to a reduction in export sales, compared to $4.2M for the
    same period last year. 
    
--  Sales incentives are the most significant expense and consist of
    commissions, performance bonuses and other discretionary incentive cash
    bonuses to qualifying distributors. During the quarter, the Company paid
    $5.9M in sales incentives for an average of 50.0% of total Network sales
    and the same percentage as the last year. For the nine-month period
    ended July 31, 2012, the Company paid $16.2M in sales incentives for an
    average of 50.8% of total Network sales this represents a small decline
    as compared to 51.7% for the same period in 2011. 
    
--  Margin before expenses, as a percentage of net sales, increased in the
    third quarter ending July 31, 2012 at 29.2% as compared to 29.0% for the
    same quarter in 2011. For the nine-month period ended July 31, 2012, the
    Company recorded an average of 28.4% of total Revenues and a small
    decline compared to 28.7% for the same period in 2011.This decrease is
    primarily attributed to a reduction in Export sales to licensees which
    usually provide a higher contribution margin. 
    
--  Selected expenses in the third quarter of 2012 were $3.2M as compared to
    $2.8M for the same period in 2011. They now represent 24.2% of total
    revenues as compared to 26.0% of total revenues a year earlier. For the
    nine-month period ended July 31, 2012, operating expenses were $9.0M
    representing 25.3% of total revenues compared to 28.5% of total revenues
    for the same period a year earlier. 
    
--  The adjusted EBITDA, a non GAAP financial measure, for the three-month
    period ended July 31, 2012, was $628 thousand which represents an
    increase of $345 thousand or 122% over adjusted EBITDA for the same
    period ended July 31, 2011. For the nine-month period ended July 31,
    2012, adjusted EBITDA was $1.3M which represents an improvement of $1.0M
    or 425% over adjusted EBITDA for the same period in 2011. 
    
--  Net profit for the quarter ended July 31, 2012 totalled $265 thousand,
    as compared to a net profit of $107 thousand for the same period a year
    earlier. For the nine-month period ended July 31, 2012, net profit was
    $162 thousand as compared to a net loss of $1.2M for the same period in
    2011. This net improvement, after nine months in 2012, over the previous
    year reducing the net loss by $1.3M resulted primarily due from revenue
    growth in Mexico which mitigated other jurisdiction decreases while
    reducing certain corporate expenses. 



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)                                                
                                                    July 31,    October 31, 
                                                        2012           2011 
                                                           $              $ 
----------------------------------------------------------------------------
                                                                            
ASSETS                                                                      
Current assets                                                              
  Cash                                             3,159,246      2,561,969 
  Trade and other receivables                      1,295,556        659,004 
  Inventories                                      2,812,455      3,324,740 
  Prepaid expenses                                   447,206        393,119 
----------------------------------------------------------------------------
                                                   7,714,463      6,938,832 
Non-current assets                                                          
  Property, plant and equipment                    6,021,961      5,931,411 
  Intangible assets                                1,685,114      2,000,217 
  Goodwill                                           833,559        833,559 
  Deferred income tax assets                       2,675,734      2,725,367 
  Non-refundable research and development tax                               
   credits                                           337,971        337,971 
----------------------------------------------------------------------------
                                                  11,554,339     11,828,525 
----------------------------------------------------------------------------
                                                  19,268,802     18,767,357 
----------------------------------------------------------------------------
                                                                            
LIABILITIES                                                                 
Current liabilities                                                         
  Payables                                         1,263,102        935,800 
  Accrued liabilities                              2,918,224      2,464,967 
  Provisions                                         459,278        671,201 
  Customer deposits                                  345,168        288,192 
  Income taxes                                        74,416         58,576 
  Current portion of long- term debt                 116,071        312,320 
----------------------------------------------------------------------------
                                                   5,176,259      4,731,056 
                                                                            
Long-term debt                                     1,990,343      2,077,787 
----------------------------------------------------------------------------
                                                   7,166,602      6,808,843 
----------------------------------------------------------------------------
                                                                            
EQUITY                                                                      
  Share capital                                    3,465,350      3,465,548 
  Other equity - Stock options                     1,927,710      1,903,039 
  Contributed surplus                             11,336,849     11,337,796 
  Accumulated other comprehensive income             264,534        306,595 
  Deficit                                         (4,892,243)    (5,054,464)
----------------------------------------------------------------------------
                                                  12,102,200     11,958,514 
----------------------------------------------------------------------------
                                                  19,268,802     18,767,357 
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
Interim Consolidated Statements of Changes in Equity                        
(Unaudited)                                                                 
Nine-month periods ended July 31,                                           
(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           -            -       (1,405)           - 
----------------------------------------------------------------------------
                                                                            
Balance at July 31, 2011  69,994,300    3,465,548    1,892,635   11,337,796 
----------------------------------------------------------------------------
                                                                            
Balance at November 1,                                                      
 2011                     69,994,300    3,465,548    1,903,039   11,337,796 
                                                                            
  Net profit for the                                                        
   period                          -            -            -            - 
                                                                            
  Foreign currency                                                          
   translation                                                              
   adjustments                     -            -            -            - 
----------------------------------------------------------------------------
Total comprehensive                                                         
 income of the period:             -            -            -            - 
                                                                            
Repurchase of shares          (4,245)        (198)           -         (947)
Share-based compensation           -            -       24,671            - 
----------------------------------------------------------------------------
                                                                            
Balance at July 31, 2012  69,990,055    3,465,350    1,927,710   11,336,849 
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            

                          Accumulated                             
                                other                             
                        comprehensive                             
                               income       Deficit         Total 
                                                                  
                                    $             $             $ 
------------------------------------------------------------------
                                                                  
Balance at November 1,                                            
 2010                               -    (3,650,834)   13,046,550 
                                                                  
  Net loss for the                                                
   period                           -    (1,237,382)   (1,237,382)
                                                                  
  Foreign currency                                                
   translation                                                    
   adjustments                197,412             -       197,412 
------------------------------------------------------------------
Total comprehensive loss                                          
 of the period:               197,412    (1,237,382)   (1,039,970)
                                                                  
Share-based compensation            -             -        (1,405)
------------------------------------------------------------------
                                                                  
Balance at July 31, 2011      197,412    (4,888,216)   12,005,175 
------------------------------------------------------------------
                                                                  
Balance at November 1,                                            
 2011                         306,595    (5,054,464)   11,958,514 
                                                                  
  Net profit for the                                              
   period                           -       162,221       162,221 
                                                                  
  Foreign currency                                                
   translation                                                    
   adjustments                (42,061)            -       (42,061)
------------------------------------------------------------------
Total comprehensive                                               
 income of the period:        (42,061)      162,221       120,160 
                                                                  
Repurchase of shares                -             -        (1,145)
Share-based compensation            -             -        24,671 
------------------------------------------------------------------
                                                                  
Balance at July 31, 2012      264,534    (4,892,243)   12,102,200 
------------------------------------------------------------------
                                                                  
                                                                  
                                                                  
Interim Consolidated Statements of Comprehensive Income (Loss)              
(Unaudited)                                                                 
Three-month and nine-month periods ended July 31,                           
(Stated in Canadian dollars except for number of shares)                    
                                                                            
                     For the three-month period   For the nine-month period 
                                 ended July 31,              ended July 31, 
                              2012         2011          2012          2011 
                                 $            $             $             $ 
----------------------------------------------------------------------------
                                                                            
Revenues                                                                    
  Network sales         11,745,818    9,540,766    31,983,983    27,473,893 
  Other revenue          1,334,122    1,115,894     3,559,212     4,218,179 
----------------------------------------------------------------------------
                        13,079,940   10,656,660    35,543,195    31,692,072 
Variable costs                                                              
  Cost of goods sold     2,279,372    1,833,175     6,070,755     5,524,949 
  Sales incentives -                                                        
   Network               5,872,291    4,773,420    16,243,951    14,203,931 
  Other variable                                                            
   costs                 1,106,989      961,154     3,144,149     2,869,059 
----------------------------------------------------------------------------
Margin before                                                               
 expenses                3,821,288    3,088,911    10,084,340     9,094,133 
----------------------------------------------------------------------------
                                                                            
Expenses                                                                    
  Administrative         1,652,175    1,550,710     4,651,953     4,782,410 
  Marketing and                                                             
   selling               1,260,565      959,162     3,666,334     3,527,444 
  Quality and                                                               
   development costs       250,497      256,144       656,630       733,009 
  Depreciation and                                                          
   amortization            229,294      273,272       692,556       811,674 
  Other expenses             2,824     (161,610)       24,671       496,015 
----------------------------------------------------------------------------
Operating income                                                            
 (loss)                    425,933      211,233       392,196    (1,256,419)
----------------------------------------------------------------------------
                                                                            
  Net finance                                                               
   expenses                 73,314       47,133       153,687       316,890 
----------------------------------------------------------------------------
Profit (loss) before                                                        
 income taxes              352,619      164,100       238,509    (1,573,309)
                                                                            
Income taxes                                                                
 (recovery)                                                                 
  Current                    8,278       15,020        23,733        19,704 
  Deferred                  79,602       41,985        52,555      (355,631)
----------------------------------------------------------------------------
                                                                            
Net profit (loss)          264,739      107,095       162,221    (1,237,382)
----------------------------------------------------------------------------
                                                                            
Other comprehensive                                                         
 income (loss), net                                                         
 of income tax                                                              
 Foreign currency                                                           
 translation                                                                
 adjustments                14,792       10,005       (42,061)      197,412 
----------------------------------------------------------------------------
Total comprehensive                                                         
 income (loss) for                                                          
 the period                279,531      117,100       120,160    (1,039,970)
----------------------------------------------------------------------------
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     69,994,063   69,994,300    69,994,063    69,994,300 
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
Interim Consolidated Statements of Cash Flows           
(Unaudited)                                             
Nine-month periods ended July 31,                       
(Stated in Canadian dollars)                            
                                                        2012           2011 
                                                           $              $ 
----------------------------------------------------------------------------
Operating activities                                                        
Net profit (loss)                                    162,221     (1,237,382)
Adjustments for:                                                            
  Depreciation of property, plant and                                       
   equipment                                         275,505        345,765 
  Amortization of intangible assets                  417,052        465,909 
  Gain on settlement of contingent                                          
   consideration liability                                 -        (56,950)
  Unrealized foreign exchange                        (20,520)       293,911 
  Accreted interest                                        -         44,436 
  Interest expense measured at amortized cost         58,171         47,355 
  Future income taxes                                 52,555       (355,631)
  Share- based compensation                           24,671         (1,405)
Interest paid                                        (61,295)       (47,355)
Interest received                                      3,124              - 
----------------------------------------------------------------------------
Cash received prior to working capital                                      
 variation                                           911,484       (501,347)
Net change in non- cash working capital              452,531       (130,394)
----------------------------------------------------------------------------
Net cash provided by (used in) operating                                    
 activities                                        1,364,015       (631,741)
----------------------------------------------------------------------------
                                                                            
Investing activities                                                        
  Additions to property, plant and equipment        (366,386)      (104,770)
  Additions to intangible assets                    (105,135)      (154,823)
----------------------------------------------------------------------------
Net cash used in investing activities               (471,521)      (259,593)
----------------------------------------------------------------------------
                                                                            
Financing activities                                                        
  Reimbursement of long- term debt                   (84,353)             - 
  Reimbursement of demand loan                             -       (133,333)
  Reimbursement of other liability                  (200,203)       (83,572)
  Repurchase of shares                                (1,145)             - 
----------------------------------------------------------------------------
Net cash used in financing activities               (285,701)      (216,905)
----------------------------------------------------------------------------
                                                                            
Net increase (decrease) in cash during the                                  
 period                                              606,793     (1,108,239)
Cash at the beginning of the period                2,561,969      2,936,456 
Effect of foreign exchange rate fluctuations                                
 on cash                                              (9,516)       (17,747)
----------------------------------------------------------------------------
Cash at the end of the period                      3,159,246      1,810,470 
----------------------------------------------------------------------------

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