Patient Portal Technologies, Inc. Announces First Quarter 2009 Financial Results

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Mon May 18, 2009 3:29pm EDT

BALDWINSVILLE, N.Y., May 18, 2009 (GLOBE NEWSWIRE) -- Patient Portal
Technologies, Inc. (OTCBB:PPRG) (Patient Portal) announced today financial
results for the quarter ended March 31, 2009.

Net revenues for the quarter ended March 31, 2009 were $3.9 million representing
a decrease of $.3 million over the comparable period revenue of $4.2 million for
2008. Revenue from Patient Services reached a record of $2.6 million,
representing an increase of $.820 million or 46% over the comparable period
revenue of $1.78 million. This increase was a result of new services as well as
new customer relationships. Revenue from equipment sales was $1.3 million down
from $2.4 million for the comparable period of 2008. The decrease in equipment
revenue is attributable to timing of receipt and processing of orders for new
equipment during the first quarter.

The net operating loss for the quarter was $154,000 compared to a net operating
loss of $295,000 for the first quarter of 2008. The net loss for the first
quarter of 2009 was $653,000 compared to an approximate loss of $731,000 for the
same period of 2008.

After subtracting interest, taxes, depreciation and amortization from the first
quarter of 2009, the Company earned approximately $217,000 on an EBITDA basis
compared to $66,000 on a similar basis of for the first quarter of 2008.

Management utilizes the EBITDA measurement as it reflects the Company's
operating performance before unusual deductions for interest, depreciation and
amortization which can mask true performance due to the nature of previous
acquisitions and debt transactions. We believe that this information is useful
for investors to fully understand the entire operating performance of the
business.

The gross margin percentage also increased in the first quarter to approximately
42% from the 2008 first quarter level of 30%, as more of the company's new
higher margin services are being deployed into the market and the mix of revenue
shifts from equipment service revenues. Company CEO, Kevin Kelly commented, "We
are very pleased with the first quarter service revenue results as well as the
progress made with our internal operating improvements. We continue to see
significant interest in new services that impact patient satisfaction and
improve hospital efficiencies. While equipment revenues were under plan due to
timing related issues, the market remains strong and we are confident that we
will achieve our plan as the year progresses." He added, "Our platform services
are positioned to capitalize on the significant market trend toward improving
patient satisfaction and we continue to be confident in our ability to gain
market share in this area."

Patient Portal Technologies, Inc. assists hospitals in increasing financial
performance by providing services that improve and enhance the patients
experience before, during and after their hospital stay. The company provides
its products and solutions to hospitals and healthcare facilities throughout the
entire United States.

To view the website and obtain Company information go to
http://www.patientportal.com.

-0-
CONTACT: Patient Portal Technologies, Inc.
         Investor Relations Contact:
         Vanessa Loysen
         (315) 638-6708
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