ATF Artaflex

Artaflex Inc. (TSX VENTURE:ATF) ("Artaflex" or the "Company), a specialist at
delivering integrated product solutions and support to the global technology and
electronics industry, today reports unaudited first quarter financial results
for the three-month period ended October 31, 2012.


Artaflex reports in U.S. dollars and all numbers below are expressed in
thousands of U.S. dollars, except per share information and gross margin
percentages.


The financial statements for the first quarter ended October 31, 2012, including
required comparative information, have been prepared in accordance with
International Financial Reporting Standards ("IFRS") as issued by the
International Accounting Standards Board ("IASB").


Further information is available on the Company's website at www.artaflex.com
and the System for Electronic Document Analysis and Retrieval ("SEDAR) at
www.sedar.com.


Q1 2013 Financial Highlights:

Sales increased 79.2% to $6,510 in the first quarter of 2013 compared to $3,632
in 2012, primarily due to the acquisition of Adeptron in March 2012. For the
quarter, sales to the Company's four largest customers represented an aggregate
of 54% (2012 - 72%) of the Company's total sales.


Gross profit decreased $195, to $881 compared to $1,076 in the same period of
2012. Gross profit as a percentage of sales was 13.5% compared to 29.6% for the
same period in 2012. The decrease in gross profit and percentage in the quarter
is largely due to the acquisition of Adeptron which historically had a lower
gross profit.


Selling, general and administrative ("SG&A) expense increased 86.0% to $1,408
compared to $757 for the same quarter in 2012. The increase was primarily due to
one-time legal and professional costs associated with the terminated acquisition
of MTI International, Inc. SG&A expense as a percentage of sales was 21.6%,
comparable to 20.8% in 2012.


The net loss and comprehensive loss was $906 compared to a net income of $467 in
the first quarter of 2012.


Adjusted EBITDA loss was $312 compared to an adjusted EBITDA income of $467 in
the same period last year.


EBITDA means earnings before interest, taxes, depreciation and amortization.
Adjusted EBITDA means earnings before interest, taxes, depreciation,
amortization, stock-based compensation and restructuring costs. EBITDA and
Adjusted EBITDA are not recognized measures under IFRS. However, management
believes that EBITDA and Adjusted EBITDA as herein defined are useful
supplemental measures to net income (loss), as it provides investors with an
indication of cash earnings prior to debt service, capital expenditures, income
taxes and other non-recurring and non-cash items. Readers should be cautioned,
however, that EBITDA and Adjusted EBITDA should not be construed as an
alternative to net income (loss) determined in accordance with generally
accepted accounting principles as an indicator of the Company's performance or
to cash flows from operating, investing and financing activities as a measure of
liquidity and cash flows. The Company's method of calculating EBITDA and
Adjusted EBITDA may differ from the methods by which other companies calculate
EBITDA and Adjusted EBITDA and, accordingly, the EBITDA and Adjusted EBITDA used
herein may not be comparable to measures used by other companies.


About Artaflex:

Artaflex is a specialist at delivering integrated product solutions and support
to the global technology and electronics industry. As a leading global provider
of complete Electronics Manufacturing Services (EMS), Artaflex offers world
class manufacturing facilities and global partners throughout Canada, the United
States, Israel and China, allowing Artaflex to provide its customers the
flexibility and scalability to competitively achieve total solutions to their
present and future electronics outsourcing needs. Visit Artaflex at:
www.artaflex.com.


This news release may contain forward-looking statements and information
relating to such matters as expected financial performance, business prospects,
technological developments, development activities and like matters. These
statements involve risk and uncertainties, including but not limited to risk
factors described in documents filed with regulatory authorities, such as the
company's most recently filed annual and quarterly MD&A's. Actual results could
differ materially from those projected as a result of these risks and should not
be relied upon as a prediction of future events. Artaflex Inc. undertakes no
obligation to update any forward-looking statements to reflect events or
circumstances after the date on which such statement is made, or to reflect the
occurrence of unanticipated events, unless required to do so under applicable
law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Artaflex Inc.
Paul Walker
Chief Executive Officer
905-754-1033
paul-walker@artaflex.com


Artaflex Inc.
Frank Skerlj
Chief Financial Officer
905-754-1036
frank-skerlj@artaflex.com
www.artaflex.com

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