2009 First Quarter Financial Results

BURNABY, B.C. May 12, 2009 – Icron Technologies Corporation (TSX Venture: IT), the developers of ExtremeUSB®, today released financial results for the first quarter ended March 31, 2009.

Posted a record increase in product margins to 56.3% from 48.4% in Q1 2008 and 48.8% in the fourth quarter of 2008;

The Company incurred an adjusted net loss of $280,403, excluding restructuring expenses of $357,489 and expensing of $154,330 in non-recurring engineering charges related to the delivery of the Company’s ASIC;

Under Canadian GAAP the Company posted a net loss for Q1 2009 of $792,222 compared to a net loss of $105,744 for Q1 2008;

Announced a partnership with InFocus to enhance USB Connectivity of InFocus’ digital projectors;

The Company showcased its innovative PC to TV Connectivity solutions at CES 2009;

Ray & Berndston were retained to lead the search for Icron’s permanent CEO.

“Given the difficult economic climate, we’re satisfied with Icron’s first quarter financial results. Although lower than our strong Q4 2008, Q1 revenues came in at expectations. We are pleased that gross margins remain strong, and that expenses remained in line with plan, net of one-time restructuring and ASIC development charges. We exited Q1 with a solid backlog, good cash position, and remain cautiously positive for the balance of 2009,” said Julian Elliott, Interim President & CEO.

Mr. Elliott continued, “We continue to invest in future growth through enhanced R&D and marketing expenditures, which we believe will pay off in the future. Going forward, it is imperative that we continue to execute well in order to achieve this outcome.”

Financials:

Revenue amounted to $2,214,979 for the three months ended March 31, 2009, compared to $2,201,017 in the same period of 2008, an increase of 0.6%.

Customers are continuing to transition over to new USB 2.0 Ranger 2101 and 2104 product lines which provide the customer with twice the distance of legacy USB 2.0 products at USB 1.1 prices. The Ranger 2101 and 2104 products generated combined sales of $582,303 during the first quarter.

Gross margin amounted to $1,247,521 in the first quarter of 2009, compared to $1,065,607 in the first quarter of 2008. Our gross margin percentage increased to 56.3% for the three months ended March 31, 2009, compared to 48.4% in the same period of 2008. The increase in margin is attributable to higher average sale prices for legacy products and a favourable sales mix of higher margin products manufactured in Asia. In addition, the Company has successfully repaid the maximum funding to the National Research Council (NRC) at the end of 2008 and is no longer required to pay 2% of gross revenue which had a positive impact on margins equivalent to 2% of gross revenue.

Our net loss amounted to $792,222 or ($0.04) per share, in the three months ended March 31, 2009, compared to a net loss of $105,744, or $0.00, in the same period of 2008. This includes restructuring expenses of $357,489 and expensing of $154,330 in non-recurring engineering charges related to the delivery of the Company’s ASIC. Excluding these one-time charges, the Company incurred a net loss of $280,403, or ($0.01).

Icron Technologies will host a conference call to discuss the company's quarterly financial results on Tuesday, May 12, 2009, 4:30 PM EST, 1:30 PM PST. Participants are asked to call (800) 591 7531 or (416) 644 3429 (Toronto).

About Icron Technologies Corporation
Icron Technologies is a visionary leader in high performance USB bridging and extension solutions for commercial and industrial markets worldwide. Icron's USB extension and bridging products are deployed in a wide range of applications including: digital home connectivity, industrial automation, medical imaging, aerospace, and KVM extension. Icron's patented ExtremeUSB® technology extends the range of USB 1.1 / 2.0 over Cat 5, Wireless, Fiber, Powerline, Coax and Phone lines, at distances of up to 40km. ExtremeUSB technology is available in a variety of formats including formats including branded and private-label products, and OEM embedded hardware and developer kits.

Icron is a publicly traded corporation and trades under the symbol "IT" on the TSX Venture Exchange. For more information on the company and its products, please visit www.icron.com.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding financial estimates and future plans and objectives of Icron -- are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Press Release

Icron Reports First Quarter Results