MOSAID Reports Results for Second Quarter Fiscal 2012

The following is a reconciliation of the numerator and denominator of the basic and diluted per share computations:

                                      Quarter ended         Six Months Ended
                                        October 31,              October 31,
Period ended                      2011         2010        2011         2010
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Net (loss) income              $(4,899)      $6,310     $(2,323)     $11,393
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Weighted average number of                                                  
 common shares outstanding  11,918,488   11,790,143  11,911,419   11,779,049
Effect of dilutive stock                                                    
 options(1)                    328,337      108,814     279,878       81,024
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Weighted average number of                                                  
 common shares outstanding                                                  
 - dilutive(2)              12,246,825   11,898,957  12,191,297   11,860,073
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Period ended                      2011         2010        2011         2010
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Basic - net (loss)                                                          
 earnings                       $(0.41)       $0.54      $(0.20)       $0.97
Diluted - net (loss)                                                        
 earnings                       $(0.40)       $0.53      $(0.19)       $0.96
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(1) For quarter ended October 31, 2011, excludes the effect of nil options  
(2010 - 222,550) as the exercise price exceeded the average fair market     
value of the common stock during the period and hence are anti-dilutive. For
six months ended October 31, 2011, excludes the effect of nil options (2010 
- 228,550).                                                                 

(2) The calculation of the weighted average number of common shares excludes
any issued DSUs as the DSUs will be settled with cash, and any unissued     
shares related to the ESPP.                                                 

10. Changes in Non-Cash Working Capital Items

                                        Quarter ended      Six Months Ended 
                                          October 31,           October 31, 
Period ended                          2011       2010       2011       2010 
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Decrease (increase) in current                                              
 assets                                                                     
  Accounts receivable                $ 225     $ (926)    $6,069    $(1,783)
  Prepaid expenses                    (318)       (13)      (325)        91 
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                                       (93)      (939)     5,744     (1,692)

Increase (decrease) in current                                              
 liabilities                                                                
  Accounts payable and accrued                                                                                       
      liabilities                                              6,136            1,130            3,802                243  
    Deferred  revenue                                              -          (1,203)                  -          (4,400)
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                                                                        $6,043        $(1,012)        $9,546        $(5,849)
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At October 31, 2011, cash and cash equivalents includes foreign denominated currency, primarily U.S. dollars, in the amount of $4.9 million (October 31, 2010 - $4.1 million).
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