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Business Services Industry

TVI Corporation Reports First Quarter 2008 Financial Results

Business Wire, May 7, 2008

GLENN DALE, Md. -- TVI Corporation (NASDAQ: TVIN), an international supplier of military and civilian emergency first responder and first receiver products, personal protection products, quick-erect shelter systems and event shelter and equipment rentals, today announced its financial results for the first quarter ended March 31, 2008.

First Quarter 2008 Results

* Revenue was $6.5 million, compared with $14.3 million for the first quarter of 2007.

* Gross profit margin was 17.4%, compared with 17.8% for the first quarter of 2007.

* Operating loss was $3.6 million, compared with operating loss of $3.8 million for the first quarter of 2007.

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* Net loss was $3.1 million, or ($0.09) per share, compared with net loss of $2.6 million, or ($0.08) per share, for the first quarter of 2007.

* Cash and short-term investments totaled $481,000 as of March 31, 2008, compared with $328,000 as of December 31, 2007.

Comments on the First Quarter 2008

"TVI's first-quarter 2008 financial results show that we are still a company in turnaround," said Lt. General Harley A. Hughes, TVI's President and Chief Executive Officer. "While first-quarter revenue was lower than anticipated, we believe that our turnaround effort remains on track. Operating margins improved; we continued to manage costs within our business; and we secured a number of significant contracts that will generate revenue in the coming months."

"The recently awarded contracts with the U.S. Army and the National Guard illustrate the success of our strategic initiatives to target customers within the diverse, well-funded government sector," Hughes said. "Following the initial $2.5 million C2A1 order from the U.S. Army, we received a $5.1 million follow-on order for our filter canisters, bringing the Army's total C2A1 order to more than $7.5 million. This relationship with the Army exemplifies the type of higher-quality revenue we are seeking. Similarly, the National Guard order comes with an opportunity for significant follow-on orders if we perform to expectations."

"In addition, I want to commend our engineering team for finding ways to develop new products and add customer focused features and functions notwithstanding very limited resources," said Hughes. "This strategy led to the sale of two newly developed mortuary affairs systems to the Army. We continue to show how nimble and flexible our Company can be by bringing product enhancements to our target markets even as needs evolve."

"Our relationship with Branch Banking & Trust (BB&T) continues to be integral to our success," Hughes said. "The restructuring of our credit facility earlier in the quarter enables us to manage our business for the short-term, while we focus our longer-term efforts toward achieving operating profitability. BB&T continues to provide TVI with the financial flexibility we need to successfully implement our turnaround."

Business Outlook

"TVI's turnaround strategy is well underway and we are confident that our progress will be visible in the coming quarters," Hughes said. "We anticipate additional contract wins from our target customers in various segments of the military market. We expect TVI's top-line results to improve in the second quarter over the first quarter of 2008. We also continue to expect to report operating profit in the third quarter of 2008."

Conference Call Information

TVI's management will host a conference call today at 10:00 a.m. (ET). To participate in the call please dial (877) 407-5790 or (201) 689-8328. To listen to the live webcast, visit the Company's website at www.tvicorp.com prior to the event's broadcast. Interested parties unable to listen to the live call may access an archived version of the webcast on TVI's website.

About TVI Corporation

TVI Corporation, headquartered in Glenn Dale, Maryland, is an international supplier of military and civilian emergency first responder and first receiver products, personal protection products and quick-erect shelter systems. These products include powered air-purifying respirators, respiratory filters and quick-erect shelter systems used for decontamination, hospital surge systems and command and control. The users of these products include military and homeland defense/homeland security customers. Through its Signature Special Event Services business, TVI is a leading full-service shelter and equipment rental company serving the government and defense, corporate, sporting and hospitality industries.

The TVI designation is a registered trademark of TVI Corporation. All other company and product names mentioned above are trade names and/or trademarks of their respective owners. For more information concerning TVI, please visit the Company at: www.tvicorp.com. This reference to the TVI website is an active textual reference and the contents of the site are not part of this press release.

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Business Services Industry

TVI Corporation Reports First Quarter 2008 Financial Results

Business Wire, May 7, 2008

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