iFabric Corp Announces First Quarter 2013 Results

iFabric Corp (TSX VENTURE:IFA), hereinafter referred to as "iFabric" or the
"Company", today announced its financial results for the first quarter ended
December 31, 2012. iFabric has a year end of September 30.


For the quarter ended December 31, 2012, revenues increased to $1,185,751
compared to $1,104,230 for the first quarter of 2011, representing an increase
of 7%. Gross profit for the quarter was $652,248 compared to $613,223 for the
corresponding quarter of 2011. Gross profit margins of 55% were achieved in both
the current and comparable quarter for 2011.


Net profit for the quarter was $12,411, compared to a profit of $128,696 in the
corresponding first quarter of 2011. The reduction in net profit is largely
attributable to selling, design and administrative costs of approximately
$142,000 in respect of the new "Splendid Intimates" and "Ella Moss" programs,
which have been expensed ahead of initial sales of these products which
commenced shipping subsequent to the quarter end.


 The Company's Balance Sheet remains strong. With working capital of $3,745,329
and no operating debt, the Company is well capitalized to fund its operations.
Shareholders' Equity increased to $4,784,974 during the quarter.


Positive cash flow for the current quarter amounted to $290,323 as compared to
negative cash flow of $331,164 in 2011 and is attributable to strong collections
of receivables during the quarter.


"I am pleased to say that the investment that the company has made in the past
year in the company's core business, namely intimate apparel which, includes
bras, panties, day wear and sleepwear and in particular, the launch of "Splendid
Intimates", is already showing significant results, with shipments having
commenced in early February 2013. Sales for the two months ended February 28th
2013 have already surpassed sales for the entire comparable quarter in the
previous year. Furthermore, we have received extremely encouraging reports of
initial sell through results from our major customers evidencing how well their
customers are receiving the new products", said Mr. Hylton Karon, President and
CEO.


"Our intelligent fabric technology division continues to be a key component and
focus of the company and has attracted global brands as potential customers, who
have shown keen interest in Cliniweave. Additionally, the Company has developed
several new key products and innovative applications for Cliniweave. We are
confident that the Company's investment in the intelligent fabric division will
show meaningful results in the near future", added Mr. Karon.


CLINIWEAVE is effective against a wide range of micro-organisms including mold,
mildew, fungi and odor causing bacteria. It provides long-term, effective
control of microorganisms. This efficacy and safety has been documented in
numerous peer reviewed publications, trade articles and certified tests. It is
durable to deterioration through repeated washing and is clinically proven to
kill bacteria associated with hospital acquired infections. Medical facility
uses for Cliniweave include bedding, curtaining, air filters, scrubs, masks and
surfaces amongst others.


Complete Financial Statements are available on www.sedar.com.



FINANCIAL HIGHLIGHTS                                                        
                                                 3 months ended December 31 
                                                     2012              2011 
                                                        $                 $ 
Revenue                                         1,185,751         1,104,230 
                                                                            
Net income (loss)                                  12,411           128,696 
                                                                            
Net income (loss) per share                          0.00              0.01 
                                                                            
Cash flow                                         290,323          (331,164)



ABOUT iFABRIC CORP:

iFABRIC CORP currently has 25.2 million shares issued and outstanding. iFABRIC
is a manufacturer, distributor, licensor and licensee of ladies intimate apparel
products and accessories as well proprietary chemical compounds that render
fabrics intelligent, thereby improving the safety and well-being of the wearer.


FORWARD LOOKING STATEMENTS

Forward-looking statements provide an opinion as to the effect of certain events
and trends on the business. Certain statements contained in this news release
constitute forward looking statements. The use of any words such as
"anticipate", "continue", "estimate", "expect", "may", "will", "project",
"should", "believe" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are based on
current expectations and various estimates, factors and assumptions and involve
known and unknown risks, uncertainties and other factors. Forward-looking
information includes, but is not limited to, statements with respect to the
development potential of the Company's products.


Forward-looking statements are based on the opinions and estimates of management
as of the date such statements are made. Readers are cautioned not to place
undue reliance on these statements as the Company's actual results, performance,
or achievements may differ materially from any future results, performance or
achievements expressed or implied by such forward-looking statements if known or
unknown risks, uncertainties or other factors affect the Company's business, or
if the Company's estimates or assumptions prove inaccurate. Therefore, the
Company cannot provide any assurance that forward-looking statements will
materialize. The Company assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or any other reason except as required by applicable securities laws.


Any financial outlook or future oriented financial information in this news
release, as defined by applicable securities legislation, has been approved by
management of iFabric. Such financial outlook or future oriented financial
information is provided for the purpose of providing information about
management's reasonable expectations as to the anticipated results of its
proposed business activities. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The forward-looking
statements contained in this press release are made as of the date hereof and
the Company undertakes no obligation to update publicly or revise any forward
-looking statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
iFabric Corp
Hilton Price
CFO
905 882-4513
[e-mail]
www.ifabriccorp.com