iFabric Corp. Announces Record Second Quarter 2013 Results

iFabric Corp. (TSX VENTURE:IFA), hereinafter referred to as "iFabric" or the
"Company", today announced its financial results for the second quarter ended
31st March 2013. iFabric has a 30th September year end.


In the quarter ended 31st March 2013, revenues increased to $2,254,113 compared
to $1,067,362 in the corresponding quarter of 2012, an increase of 111%. Gross
profit in the quarter was $1,305,933 (or 58% of sales), compared to $586,750 (or
55% of sales) in the corresponding quarter of 2012, representing an increase of
$719,183, or an increase of 123% over the corresponding quarter of 2012.


Net profit after tax for the second quarter ended 31st March 2013 was $24,478
after non-recurring expenses of $473,145 comprised of $273,145 attributable to
share based compensation due to the granting of stock options to directors and
officers of the company in January 2013 as well as approximately $200,000 in
design, selling and marketing costs expensed ahead of future sales programs. Net
profit after tax in the corresponding quarter of 2012, when the company was
still private, amounted to $93,781.


The Company's Balance Sheet remains strong. With a working capital ratio of 3.7
to 1, operating debt of $452,000, cash of $144,000 and an unutilized bank line
of credit of $1,692,000, the Company is well capitalized to fund its operations.
Shareholders' Equity increased to $5,087,597 at the end of the quarter.


For the six months ended 31st March 2013, revenues increased to $3,439,864
compared to $2,171,592 in the corresponding six months of 2012, an increase of
58%. Gross profit for the six months was $1,958,181 (or 57% of sales), compared
to $1,199,973 (or 55% of sales) in the corresponding six months, representing an
increase of $758,208 (or 63%), over the corresponding six months of 2012.


Net profit after tax for the six months ended 31st March 2013 was $36,889 after
non-recurring expenses of $473,145 comprised of $273,145 attributable to share
based compensation due to the granting of stock options to directors and
officers of the company in January 2013 as well as approximately $200,000 in
design, selling and marketing costs expensed ahead of future sales programs. Net
profit after tax in the corresponding six months in 2012, when the company was
still private, was $222,477.


"I am very pleased so say that we have exceeded our expectations with regard to
the Splendid Intimates program launch. With the Ella Moss program launching in
the next quarter and sleepwear later in the year, our lingerie business is
growing at a healthy rate," stated Mr. Hylton Karon, CEO and President of
iFabric.


"We have also developed a substantial amount of momentum with regard to the
company's Cliniweave technology which, continues to attract tremendous interest
in a variety of applications with volume shipping anticipated to commence in the
fourth quarter of 2013," 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 March 31    6 months ended March 31
                               2013        2012           2013        2012
                                  $           $              $           $
                                                                          
Revenue                   2,254,113   1,067,362      3,439,864   2,171,592
                                                                          
Net Income                   24,478      93,781         36,889     222,477
                                                                          
Net Income Per Share          0.001       0.004          0.001        0.01
                                                                          
Cash Flow                 (740,617)   (435,204)      (450,294)   (766,368)



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