Psychemedics Corporation Declares 34th Consecutive Quarterly Dividend

Psychemedics Corporation Declares 34th Consecutive Quarterly Dividend

ACTON, Mass., Feb. 2 /PRNewswire-FirstCall/ -- Psychemedics Corporation (AMEX:PMD) today announced a quarterly dividend of $.08 per share, which will be paid on March 25, 2005 to shareholders of record on March 11, 2005, the 34th consecutive quarterly dividend since 1997.

Raymond C. Kubacki, Chairman and Chief Executive Officer, said, "By declaring this quarterly dividend, our Directors have again demonstrated their confidence in the Company's future growth. We remain committed to rewarding shareholders as our Company grows."

The Company also announced that it plans on releasing fourth quarter and year-end financial results for the period ended December 31, 2004 during the week of March 7, 2005. The audit of the Company's financial statements by BDO Seidman, LLP has been scheduled later than last year's audit due primarily to general staffing constraints at BDO Seidman as a result of the increased workload due in part to the Sarbanes-Oxley Act.

Psychemedics is the world's largest provider of hair testing for drugs of abuse with thousands of corporations relying on the patented Psychemedics drug testing services. Psychemedics' clients include over 10% of the Fortune 500, some of the largest police departments in America and six Federal Reserve Banks. Psychemedics is the only company that has received FDA clearance for a five-drug panel test of hair samples for drugs of abuse.

The Psychemedics web site is http://www.drugtestwithhair.com/

Cautionary Statement for purposes of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995: From time to time, information provided by Psychemedics may contain forward-looking information that involves risks and uncertainties. In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning growth, earnings, profit margins, earnings per share, earnings release dates, revenues, dividends, future business, new accounts, customer base, market share, test volume and sales and marketing strategies) may be "forward looking" statements. Actual results may differ from those stated in any forward-looking statements. Factors that may cause such differences include but are not limited to risks associated with the expansion of the Company's sales and marketing network, development of markets for new products and services offered, the economic health of principal customers of the Company, government regulation, including but not limited to FDA regulations, competition and general economic conditions and other factors disclosed in the Company's filings with the Securities and Exchange Commission.


Source: Psychemedics Corporation

CONTACT: Peter Monson, Chief Financial Officer of Psychemedics,
+1-978-206-8220, Peterm@psychemedics.com

Web site: http://www.psychemedics.com/


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