Langer Reports Operating Results for Fourth Quarter and Year Ended December 31, 2007;...

Langer Reports Operating Results for Fourth Quarter and Year Ended December 31,
2007; Explores Comprehensive Strategic Alternatives Review

DEER PARK, N.Y., March 31, 2008 (PRIME NEWSWIRE) -- Langer, Inc. (Nasdaq:GAIT)
today reported a net loss for the year ended December 31, 2007, of approximately
$(4,518,000), or approximately $(.40) per share on a fully diluted basis,
compared to net loss for the year ended December 31, 2006, of approximately
$(4,853,000), or $(.49) per fully diluted share. For the three months ended
December 31, 2007, net loss was approximately $(2,047,000), or $(.18) per fully
diluted share, compared to net loss of approximately $(2,393,000), or $(.24) per
fully diluted share for the three months ended December 31, 2006.

Included in the December 31, 2007 operating results was a loss from discontinued
operations of approximately $443,000, related to our Langer UK, Limited
business, which was sold in January 2008. In the year ended December 31, 2007,
net operating loss of this business was approximately $267,000 as compared to a
net operating loss of approximately $443,000 in the year ended December 31,
2006. In addition, in 2007, we included in discontinued operations the loss of
approximately $176,000 associated with the disposal of Langer UK. The loss
associated with disposal of Langer UK is based upon the selling price of
approximately $1,155,000 less net assets sold of approximately $742,000,
transaction costs of approximately $126,000, and goodwill allocated to Langer UK
of $463,000.

Consolidated net sales for the year ended December 31, 2007 were approximately
$62,912,000, an increase of 92.4%, compared to net sales of approximately
$32,699,000 for the year ended December 31, 2006. Twincraft and Regal, acquired
in January 2007, are the principal reasons for the increase in net sales,
contributing approximately $27,775,000 and $3,752,000, respectively, to net
sales in the year ended December 31, 2007.

On a consolidated basis, cost of sales increased from approximately $20,056,000,
or 61.3% of net sales for the year ended December 31, 2006, to approximately
$40,524,000, or 64.4% of net sales for the year ended December 31, 2007. This
increase is also attributable to the acquisitions of Twincraft and Regal, which
had cost of sales of approximately $21,195,000 and $1,115,000, respectively. For
the year ended December 31, 2007, Twincraft's cost of goods sold as a percentage
of sales was approximately 76.3%, which contributed to the increase in the
overall cost of goods sold as a percentage of net sales.

General and administrative expenses were approximately $14,066,000, or 22.4% of
net sales for the year ended December 31, 2007, compared to approximately
$9,726,000, or 29.7% of net sales for the year ended December 31, 2006.
Twincraft and Regal, acquired in January 2007, generated approximately
$2,229,000 and $373,000, respectively, of general and administrative expenses
for the year ended December 31, 2007. The remaining increase of approximately
$1,738,000 was attributable to an increase in professional fees of approximately
$1,222,000, which includes fees paid to a financial service consulting firm of
approximately $876,000, and consulting fees paid for assistance with
Sarbanes-Oxley compliance of approximately $125,000, an increase in amortization
of identifiable intangible assets of approximately $703,000, an increase in the
pension provision of approximately $60,000 related to the termination of our
pension plan, lease abandonment costs of approximately $72,000 related to the
closing of our Anaheim, California, facility, one-time recruitment fees of
$70,000 related to hiring our new Chief Financial Officer, an increase in
stock-based compensation of approximately $95,000, and an increase in directors'
fees of approximately $62,000, all of which were offset by decreases in other
general and administrative expenses of approximately $546,000.

Selling expenses increased approximately $3,383,000, or 56.0%, to approximately
$9,419,000 for the year ended December 31, 2007, compared to approximately
$6,035,000 for the year ended December 31, 2006. Selling expenses as a
percentage of net sales were 15.0% for the year ended December 31, 2007,
compared to 18.5% for the year ended December 31, 2006. Twincraft and Regal
incurred selling expenses of approximately $3,008,000 and $2,673,000,
respectively, for the year ended December 31, 2007. An offsetting decrease of
approximately $2,297,000 is primarily attributable to the consolidation of
personnel and related selling expenses in our medical products businesses.

Research and development expenses were approximately $838,000 for the year ended
December 31, 2007, an increase of approximately $310,000, or 58.7%, which was
attributable to the inclusion of Twincraft's research and development expenses
of approximately $364,000, which was offset by a decrease of approximately
$54,000 of Silipos' research and development expenses.

Interest expense was approximately $2,186,000 for the year ended December 31,
2007, compared to approximately $944,000 for the year ended December 31, 2006,
an increase of approximately $1,242,000. The primary reason for the increase was
that 2007 included interest expenses of approximately $1,443,000 associated with
the $28,880,000 principal amount of 5% convertible subordinated notes due
December 7, 2011, compared to 2006 interest expense of approximately $385,000
associated with the $14,589,000 principal amount of 4% convertible subordinated
notes, which were paid in full on August 31, 2006.

Working capital as of December 31, 2007 was approximately $13,953,000, compared
to approximately $33,527,000 as of December 31, 2006. Cash balances at December
31, 2006 were approximately $29,608,000, which was attributable to the receipt
of proceeds from the sale on December 8, 2006 of the 5% Convertible Notes
totaling $28,880,000. In January 2007, the Company deployed a substantial
portion of the proceeds from the 5% Convertible Notes to purchase Twincraft. As
of December 31, 2007, the Company has approximately $5.9 million available under
its credit facility with Wachovia Bank, N.A. The credit facility was entered
into on May 11, 2007, and to date, there have been no draws under the facility.

Commenting on the year, President and CEO Gray Hudkins stated, "While our
financial results for 2007 were disappointing, we are continuing our review of
strategic alternatives and have retained advisors to help the Company evaluate
our options with respect to all aspects of our business. With the sale of Langer
UK in January 2008, we were able to monetize a portion of our business and
repurchase approximately 3.0% of our outstanding common shares using some of the
proceeds. Consistent with our previous announcements on the subject, looking
ahead through 2008, we will continue to explore all alternatives in order to
maximize value for our shareholders, including the potential of additional
divestitures, acquisitions, share repurchases, or other actions consistent with
our goals."

Langer, Inc., together with its wholly owned subsidiaries, Silipos and Regal, is
a provider of quality medical products and services targeting the long-term
care, orthopedic, orthotic and prosthetic markets. Through its wholly owned
subsidiaries Twincraft and Silipos, the Company offers a diverse line of bar
soap and other skincare products for the private label retail, medical and
therapeutic markets. The Company sells its medical products primarily in the
U.S. and Canada, and in more than 30 other countries, to national, regional,
international and independent medical distributors and directly to healthcare
professionals and patients. The Company sells its personal care products to
branded consumer products companies, direct marketers, distribution partners,
and specialty retailers, among others. Langer is based in Deer Park, NY, and has
additional manufacturing facilities in Niagara Falls, NY, Winooski, VT,
Montreal, Canada, and sales and marketing offices in Toronto, Canada; King of
Prussia, PA; and New York, NY. You can learn more about us by visiting our
website at http://www.langerinc.com.

Forward-looking Statements

This press release includes "forward-looking statements'' within the meaning of
the Private Securities Litigation Reform Act of 1995. All of these
forward-looking statements are based on estimates and assumptions made by our
management that, although believed by the Company to be reasonable, are
inherently uncertain. Forward-looking statements involve risks and
uncertainties, including, but not limited to, economic, competitive,
governmental and technological factors outside of its control, that may cause
its business, strategy or actual results to differ materially from the
forward-looking statements. The Company may use words such as "anticipates,"
"believes," "plans," "expects," "intends," "future," and similar expressions to
identify forward-looking statements. These risks and uncertainties are described
in the Company's filings with the Securities and Exchange Commission, including
the Company's latest annual report on Form 10-K and most recently filed Forms
8-K and 10-Q, which may be obtained at our web site at http://www.langerinc.com
or the Securities and Exchange Commission's web site at http://www.sec.gov.

LANGER, INC. AND SUBSIDIARIES

Consolidated Statements of Operations

For the Years Ended December 31,
----------------------------------
2007 2006 2005
---------- ---------- ----------

Net sales $62,912,298 $32,699,304 $37,403,853
Cost of sales 40,523,793 20,055,605 20,489,589
---------- ---------- ----------
Gross profit 22,388,505 12,643,699 16,914,264

General and administrative
expenses 14,066,476 9,726,270 11,498,704
Selling expenses 9,418,661 6,035,326 7,079,229
Research and development
expenses 837,934 528,421 469,971
Provision for impairment
of identifiable
intangible assets -- -- 2,102,000
---------- ---------- ----------
Operating loss (1,934,566) (3,646,318) (4,235,640)
---------- ---------- ----------

Other expense net:
Interest income 257,964 629,409 441,517
Interest expense (2,186,100) (943,629) (2,689,638)
Change in fair value
of Put Option -- -- 1,750,000
Other 22,329 (3,731) 52,875
---------- ---------- ----------
Other expense, net (1,905,807) (317,951) (445,246)
---------- ---------- ----------
Loss from continuing
operations before
income taxes (3,840,373) (3,964,269) (4,680,886)
(Provision for) benefit
from income taxes (234,771) (502,396) 227,391
---------- ---------- ----------
Net loss from continuing
operations (4,075,144) (4,466,665) (4,453,495)
---------- ---------- ----------
Discontinued Operations:
Loss from operations of
discontinued subsidiary (including
goodwill impairment of $175,558) (442,833) (443,127) (77,542)
(Provision for) benefit
from income taxes -- 56,303 (26,231)
---------- ---------- ----------
Loss from discontinued
operations (442,833) (386,824) (103,773)
---------- ---------- ----------
Net Loss $(4,517,977)$(4,853,489)$(4,557,268)
========== ========== ==========

Net Loss per common share:
Basic and diluted:
Loss from continuing
operations $ (0.36)$ (0.45)$ (0.61)
Loss from discontinued
operations (0.04) (0.04) (0.02)
---------- ---------- ----------
Basic and diluted
loss per share $ (0.40)$ (0.49)$ (0.63)
========== ========== ==========
Weighted average number
of common shares used
in computation of net
(loss) per share:
Basic and diluted 11,484,486 9,977,972 7,277,240
========== ========== ==========
LANGER, INC. AND SUBSIDIARIES

Consolidated Statements of Operations

(Unaudited)

For the quarters ended
December 31,
---------------------------
2007 2006
----------- -----------

Net sales $ 15,382,870 $ 7,998,385
Cost of sales 10,291,951 5,350,283
----------- -----------
Gross profit 5,090,919 2,648,102

General and administrative expenses 3,739,797 3,013,359
Selling expenses 2,375,616 1,277,684
Research and development expenses 207,638 111,523
----------- -----------
Operating loss (1,232,132) (1,754,464)
----------- -----------
Other expense net:
Interest income 30,337 108,609
Interest expense (555,894) (146,524)
Other 35,911 (26,977)
----------- -----------
Other expense, net (489,646) (64,892)
----------- -----------
Loss from continuing operations
before income taxes (1,721,778) (1,819,356)
(Provision for) benefit from income taxes (24,572) (510,159)
----------- -----------
Net loss from continuing operations (1,746,350) (2,329,515)
----------- -----------
Discontinued Operations:
Loss from operations of
discontinued subsidiary (including
net loss on disposal of $175,558) (300,041) (120,734)
(Provision for) benefit from income taxes -- (57,667)
----------- -----------
Loss from discontinued operations (300,041) (63,067)
----------- -----------
Net Loss $ (2,046,391) $ (2,392,582)
=========== ===========

Net Loss per common share:
Basic and diluted:
Loss from continuing operations $ (0.15) $ (0.23)
Loss from discontinued operations (0.03) (0.01)
----------- -----------
Basic and diluted loss per share $ (0.18) $ (0.24)
=========== ===========
Weighted average number of common
shares used in computation of net
(loss) per share:
Basic and diluted 11,484,486 10,066,177
=========== ===========
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CONTACT: Langer, Inc.
W. Gray Hudkins, President and Chief Executive Officer
(212) 687-3260, ext. 206