Procera Networks Releases Form 10-K for the Year Ended December 31, 2007

LOS GATOS, CA , a pioneering developer of carrier-grade network traffic and service management infrastructure equipment, announced today that it has filed its Form 10-K for the fiscal year ended December 31, 2007. The Company was unable to timely complete and finalize the financial information, narratives and disclosures necessary to prepare and support the financial statements required to be included in the Form 10-K.

The Company expects to report revenues of $6.673 million in fiscal 2007, as compared with $1.914 million in fiscal 2006, an increase of 249%. The Company's gross margin in 2007 was $4.27 million or 64% compared with $1.283 or 67% for 2006. Operating expenses in 2007 were $17.876 million, compared to $9.047 million in 2006. This is an $8.830 million increase, or a 96% increase over the prior fiscal year. The Company's net loss for fiscal 2007 was $12.84 million, compared to $7.50 million in 2006. The Company's net loss per basic and diluted share for fiscal 2007 was $.17, compared to $.15 in 2006. The shares used in computing the basic and diluted earnings per share were 71.442 million in 2007 compared with 50.444 million in 2006. Net cash flow for the year was $0.654 million. Cash, receivables, inventory and payables and accruals were $5.868 million, $1.819 million, $1.32 million and $2.240 million, respectively, on December 31, 2007 as compared to $5.214 million, $1.161 million, $0.259 million, and $0.943 million, respectively, on December 31, 2006. The summary of financial information was previously publicly disclosed at the Company's conference call on March 31, 2008.

About Procera Networks

Founded in 2002, Procera Networks, Inc. (AMEX: PKT) is a global provider of intelligent network traffic identification, control and service management infrastructure equipment. Procera's core product suite, the PacketLogic? line of appliances, provides the most accurate application identification available today by using the industry leading connection identification engine DRDL? (Datastream Recognition Definition Language). PacketLogic is deployed at more than 400 broadband service providers (xSPs), telcos, colleges and universities worldwide. For more information, visit http://www.proceranetworks.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in this press release, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, the ability of Procera to commercialize the applicable technology and introduce products and the acceptance of those products by the market, the ability of resellers to sell the Procera products, market conditions, the general acceptance of the Company's products and technologies, competitive factors, timing, and other risks described in the Company's reports and filings with the SEC (Securities and Exchange Commission) from time to time.

Procera Networks is a registered trademark, and PacketLogic and DRDL are trademarks of Procera Networks, Inc. All rights reserved. All other products or brands mentioned are trademarks and/or service marks of their respective owners.

Procera Networks, Inc. (AMEX:PKT)
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