NOVT Corporation (Pink Sheets: NVTP) (“NOVT” or the “Company”) today announced operating results for the third quarter ended September 30, 2012. They are summarized in the following paragraphs and in the financial tables below. Further financial information can be found on the NOVT website: www.novtcorp.net.

Third Quarter Results

NOVT reported revenues of $2.0 million for the third quarter ended September 30, 2012. The income from continuing operations was $1.5 million, as compared to a loss of $0.1 million in the 2011 third quarter. Net income for the Company in the third quarter was $1.6 million, or $58.18 per diluted common share, as compared to a net loss of $0.3 million, or $8.62 per diluted common share, for the 2011 third quarter.

Nine Month Results

For the nine month period ended September 30, 2012, NOVT reported revenues of $3.1 million. Income from continuing operations was $2.4 million, as compared to a loss of $0.3 million for the same period in 2011. Net income for the Company for the nine month period was $2.7 million, or $96.96 per diluted common share, as compared with income of $0.9 million, or $30.87 per diluted common share, for the same period in 2011.

Financial Summary

        (in thousands, except per data share)

Three months ended

Nine months ended

September 30

September 30

2012 2011 2012 2011   Revenues $ 2,008 $ - $ 3,055 $ -   Operating expenses: General and administrative   473   121     650   330   Income (Loss) from operations 1,535 (121 ) 2,405 (330 )     Interest and other income: Interest income 125 81 341 316 Realized gain (loss) on investments - (210 ) - (210 ) Unrealized loss on investments   -   -     -   1,233   Total interest and other income 125 (129 ) 341 1,339   Income (loss) before income taxes 1,660 (250 ) 2,746 1,009   Provision for income taxes   31   -     31   83     Net Income (loss) $ 1,629 $ (250 ) $ 2,715 $ 926     Basic and diluted net income (loss) per share $ 58.18 $ (8.62 ) $ 96.96 $ 30.87    

Weighted average common shares outstanding -basic and diluted

  28   29     28   30  

Balance Sheets

        (in thousands) September 30, December 31, 2012 2011 (Unaudited) ASSETS:   Current assets: Cash and cash equivalents $ 11,428 $ 4,874 Short-term investments 1,921 1,390 Interest receivable 20 20 Prepaid expenses and other current assets   29     92   Total current assets 13,398 6,376   Long-term investments   7,323     4,683     Total assets $ 20,721   $ 11,059     LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ - $ 1 Accrued expenses   474     118   Total current liabilities   474     119     Shareholders' equity: Preferred stock, $.01 par value, 10,000 shares authorized; no shares issued and outstanding - - Common stock, $.01 par value, 90,000 shares authorized; 39,201 shares issued and 28,301 shares outstanding at September 30, 2012; 39,101 shares issued and 28,473 shares outstanding at December 31, 2011 - - Additional paid-in capital 193,812 187,506 Deferred compensation - - Accumulated deficit (169,886 ) (172,602 ) Treasury stock, at cost, 10,900 shares at September 30, 2012 and 10,628 shares at December 31, 2011 (3,208 ) (3,085 ) Accumulated other comprehensive income (loss)   (471 )   (879 )   20,247     10,940     Total liabilities and shareholders' equity $ 20,721   $ 11,059  

About NOVT Corporation

On March 9, 2006, NOVT completed the sale of substantially all the assets of its vascular brachytherapy business. NOVT's strategic plan is to redeploy its existing resources to identify and acquire new business operations. This strategy may allow NOVT to realize the benefits of its net operating loss carry-forwards ("NOLs"). At this time, no candidates have been identified and no assurance can be given that NOVT will find suitable candidates, and if it does, that it will be able to utilize its existing NOLs.

NOVT's Certificate of Incorporation limits the ability of any person or group to acquire 4.75% or more of NOVT's common stock (subject to certain exceptions as provided in the Certificate of Incorporation) in order to protect NOVT's ability to utilize its NOLs and renders inapplicable to NOVT the limitations of Section 203 of the Delaware General Corporation.