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Quadlogic Controls Corporation (OTC Pink Sheets: QDLC.PK), the only US Company that designs and manufactures metering systems consisting of a smart electric meter integrated with a patented Power Line Communications capability, today reported its financial results for the six-month periods ending August 31, 2007 and 2006. Sales for the first half of fiscal 2008 amounted to $6,998,000, a 53% increase over the $4,573,000 recorded in the first half of fiscal 2007. Net income was $522,000 for the first half of fiscal 2008 versus a loss of $9,000 during the same period for the prior year. During the first half of fiscal year 2008, the Company relocated its corporate and manufacturing operations to a newly built-out 38,000 sq. ft. facility in Long Island City, NY. Included in net income for the first half of fiscal 2008 is a one-time charge for relocation costs amounting to approximately $167,000. About Quadlogic Quadlogic Controls Corporation, a New York corporation, is a non-reporting public company (Symbol: QDLC.PK) and is headquartered in New York City. Quadlogic is the only automatic meter reading (AMR) provider in the US that develops, manufactures and sells digital electric interval “smart” meters and metering systems with an integrated power line communications technology. This patented and proprietary power line communications technology, also known as “PLC,” enables metered data to be communicated bi-directionally over the existing power lines and lies at the core of the Quadlogic suite of metering technology. The Quadlogic metering system allows commercial and residential building owners and tenants to measure and reduce energy usage which in turn helps the environment by reducing greenhouse gas emissions. Forward-Looking Statements Statements included in this press release which are not historical in nature are forward-looking statements. These forward-looking statements regarding our future business prospects, plans, objectives, expectations and intentions are subject to certain risks, uncertainties and other factors that could cause actual results to differ materially from those projected or suggested by the forward-looking statements, including, but not limited to: our inability to raise additional capital, the possibility that sales to electric utilities or private industry will not materialize as quickly as expected or at all, competition from other companies engaged in the development and sale of products and systems which serve similar functions to our products, our dependence on key personnel, changes in governmental regulations or programs affecting the metering industry and our inability to protect our patents, trade secrets, trademarks, confidentiality and other intellectual property from infringement. About Our Financial Statements Quadlogic Controls Corporation is not subject to the reporting requirements of the Securities Exchange Act of 1934, and currently does not file periodic reports with the Securities Exchange Commission (“SEC”). The information contained in this press release does not contain all the information that would be required in periodic reports if we were an SEC reporting company. In addition, the financial statements included in this press release do not contain financial statement notes and accordingly do not comply with generally accepted accounting principles. Further, such interim results are subject to normal and recurring year-end and audit adjustments. The Company undertakes no obligation to update information contained in this press release
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