IN THE NEWS

February 27, 2007


BOTHELL, WA, — Cardiac Science Corporation, a global leader in external cardiac monitoring and defibrillation products, today announced financial results for the fourth quarter and full year ended December 31, 2006. Revenue for the fourth quarter increased 9% to $39.0 million from revenue for the fourth quarter of 2005 of $35.9 million. The growth reflected a 41% increase in defibrillation sales, partially offset by an 11% decline in cardiac monitoring revenue. Domestic AED sales rose 50% from the prior year’s fourth quarter and international AED sales increased 31%, despite a temporary decline in sales in Japan due to the transition to a recentlyintroduced AED product. The Company reported a small net loss of $35,000, or $0.00 per share, in the fourth quarter of 2006, compared with a net loss of $2.5 million, or $0.11 per share, in the fourth quarter of 2005.

“Revenue growth in the fourth quarter was driven by strong sales of our defibrillation products, resulting from increasing adoption of AEDs in commercial and public venues in the U.S. and overseas,” said John Hinson, president and chief executive officer. For the full year 2006, revenue totaled $155.4 million, an increase of 46% compared with revenue reported on a GAAP basis for 2005 of $106.7 million. Revenue was up approximately 10% compared with pro forma 2005 revenue, giving full effect to the results of the two predecessor companies, Quinton Cardiology Systems, Inc. (Quinton) and Cardiac Science, Inc. (CSI), as if the merger of the two had been completed on January 1, 2005. The Company reported net income of $49,000, or $0.00 per share, for 2006, compared with a net loss of $1.2 million, or $(0.08) per share, in 2005, as reported on a GAAP basis.

Commenting on the year just completed, Mr. Hinson stated, “We clearly made progress in 2006, integrating our operations post-merger, growing our AED operations, introducing new products with improved functionality, increasing revenue overseas, decreasing our cost structure and strengthening our intellectual property portfolio. While we encountered several challenges during the past year, we significantly improved year over year results, with Adjusted EBITDA increasing to $8.2 million for 2006 from negative $9.0 million for 2005 on a pro forma basis, an improvement of over $17 million.”

Fourth Quarter Results

Fourth quarter 2006 revenue of $39.0 million increased 9% from the $35.9 million in revenue reported in the fourth quarter of 2005. Fourth quarter gross margin was 46.7%. The fourth quarter gross margin was below the 47.4% margin achieved in the third quarter of 2006, primarily due to a trade-in promotion offered to customers with the introduction of our new Powerheart® G-3 Plus AED during the quarter. Gross margin was also negatively impacted by changes in the mix of cardiac monitoring products and by a decline in service revenue in our AED business. The Company believes that the decline in gross margin from quarter to quarter is within the range of normal fluctuations in gross margins that investors should expect.

Operating expense in the fourth quarter of 2006 was $19.1 million, compared with $18.6 million in the fourth quarter of the prior year. Included in this was $625,000 in litigation related expense, primarily related to a patent infringement lawsuit with Philips Medical Systems and two other cases relating to the business of the former CSI. All three of these cases are currently scheduled to go to trial in the second quarter of 2007. The Company expects that litigation expenses should decline significantly once these cases are resolved. The Company reported a net loss of $35,000 for the fourth quarter of 2006, which included a tax benefit of $614,000 that was mostly due to increased research and development tax credits resulting from the reinstatement of these credits by Congress prior to year end.

The Company used $137,000 in cash for operating activities during the quarter, primarily due to an increase in working capital relating to significant sales near quarter end. Cash at the end of the year totaled $10.4 million and there was no outstanding long-term debt.

Fiscal 2006 Results

For 2006, the Company generated revenue of $155.4 million, compared with $106.7 million in reported revenue for 2005, an increase of 46%. Fiscal year 2006 revenue increased by approximately 10% over pro forma revenue for 2005, which would have been $141.9 million had Quinton and CSI been combined during that period. Comparing current year revenue to prior year pro forma combined revenue, 2006 defibrillation revenue was up 32%, cardiac monitoring revenue was down 4% and service revenue increased 1%.

Gross margin for 2006 was 47.1% compared with 43.9% for the comparable period a year ago. The Company posted net income of $49,000, or $0.00 per share, in 2006. This compares with a net loss of $1.2 million, or $(0.08) per share, in 2005. Net income for 2006 included a tax benefit of $615,000, mostly due to the previously mentioned research and development credits.

The Company generated $8.6 million in cash from operations in 2006, despite $3.9 million in litigation expenses. This compares to a use of cash of $850,000 in 2005.

Outlook

“This year we will focus our efforts on several key areas that we believe will increase shareholder value,” said Mr. Hinson. “These include continuing our worldwide doubledigit AED growth, reinvigorating our cardiac monitoring sales based on a restructured U.S. organization, increasing service revenue and profitability, and releasing our hospital “crash cart” defibrillator. We believe that we are poised for a very successful 2007.” The Company continues to expect revenue growth for 2007 to be approximately 10%, with double-digit growth in defibrillation revenues and more modest growth in cardiac monitoring and service revenues.

For 2007, gross margin is expected to be in a range between 46% and 48%, depending on several factors, including product pricing, the mix of sales through our different distribution channels, and the timing of the impact of planned productivity increases and cost reductions.

While operating expenses may fluctuate from quarter to quarter, we continue to expect operating expenses, excluding litigation, to grow over the course of the year at about onehalf of the rate of our revenue growth.

The company expects reported net income, inclusive of an income tax rate of 37%, to be in a range between $3 and $4 million, or between $0.13 and $0.17 per share. Adjusted EBITDA is expected to be in a range between 7% and 9% of revenue. “Given the momentum we are currently seeing in AED sales and the inability of one of our largest competitors to ship product domestically, we see upside opportunity in defibrillation,” said Mike Matysik, chief financial officer. “Despite the recent contraction in our cardiac monitoring business, we expect to see some growth in 2007. Our optimism is based on a new strategy which enables cross-channel sales of all of our Quinton and Burdick products within our domestic distribution network. We still have some uncertainty with respect to litigation, which creates some profitability risk. However, we expect growth in revenue and increasing profit and cash flow over the course of the year,” Matysik concluded.

Non-GAAP and Pro Forma Financial Information

This news release contains a discussion of Adjusted EBITDA, which is a non-GAAP financial measure provided as a complement to results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The term “Adjusted EBITDA” refers to a financial measure defined as earnings before net interest, income taxes, depreciation, amortization, stock-based compensation and merger related expenses. Adjusted EBITDA is not a substitute for measures determined in accordance with GAAP, and may not be comparable to Adjusted EBITDA as reported by other companies. Adjusted EBITDA is an integral part of the internal management reporting and planning process and is the primary measure used by management to evaluate the operating performance of the Company’s operations. The components of Adjusted EBITDA include the key revenue and expense items for which operating managers are responsible and upon which their performance is evaluated. The Company also uses Adjusted EBITDA for planning purposes and in presentations to its board of directors. Reconciliations of net income, the most comparable GAAP measure, to Adjusted EBITDA are contained in this press release.

In addition, the Company believes that comparisons of the full year 2006 results with 2005 may not be meaningful because results for the fiscal 2005 include the performance of Quinton for the full period, but include the results of CSI for only the four-month period after the merger date of September 1, 2005. Accordingly, the Company believes that pro forma results, giving effect to the combination of Quinton and CSI as if the two companies had been combined for the full period in 2005, may be helpful to investors’ comparison of the Company’s 2006 results. Summaries of pro forma results, as determined in accordance with GAAP, and reconciliations of those GAAP pro forma results to Adjusted EBITDA are also contained in this press release.

Conference Call Information

Cardiac Science has scheduled a conference call for 4:30 p.m. Eastern Standard Time today to discuss the Company’s financial results for the fourth quarter. The call will be hosted by John Hinson, chief executive officer, and Mike Matysik, chief financial officer. To access the conference call, please dial (800) 218-8862. International participants can call (303) 262-2130. The call will also be webcast live on the web at www.cardiacscience.com. An audio replay of the call will be available for 7 days following the call at (800) 405-2236 for U.S. callers or (303) 590-3000 for those calling outside the U.S. The password required to access the replay is 11082862#. An audio archive will be available at www.cardiacscience.com for one month following the call.

About Cardiac Science

Cardiac Science, a wholly owned subsidiary of Opto Circuits (India) Ltd., develops, manufactures, and markets a family of advanced diagnostic and therapeutic cardiology devices and systems, including automated external defibrillators (AED), electrocardiograph devices (ECG/EKG), cardiac stress treadmill and systems, PC-based diagnostic workstations, Holter monitoring systems, hospital defibrillators, vital signs monitors, cardiac rehabilitation telemetry systems, and cardiology data management systems (informatics) that connect with hospital information (HIS), electronic medical record (EMR), and other information systems. The company sells a variety of related products and consumables and provides a portfolio of training, maintenance, and support services. Cardiac Science, the successor to the cardiac businesses that established the trusted Burdick^®, HeartCentrix^®, Powerheart^®, and Quinton^® brands, is headquartered in Bothell, Washington. With customers in almost 100 countries worldwide, the company has operations in North America, Europe, and Asia. For information, call 425.402.2000 or visit http://www.cardiacscience.com.

Forward-Looking Statements

This press release contains forward-looking statements. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Forward-looking statements in this press release include, but are not limited to, those relating to Cardiac Science Corporation's future AED sales in Japan, expected shipments of backordered products in the fourth quarter of 2010, and expectations regarding the closing of the transaction with Opto Circuits. These are forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results and performance may vary significantly from those expressed or implied in such statements. Factors that could cause or contribute to such varying results and other risks include those more fully described in the Annual Report on Form 10-K filed by Cardiac Science Corporation for the year ended December 31, 2009, as updated by subsequent quarterly reports on Form 10-Q. Cardiac Science Corporation undertakes no duty or obligation to update the information provided herein.

For updates and information on worldwide defibrillation and cardiac monitoring, find us on Facebook at http://facebook.com/cardiacscience, the Cardiac Science blog at http://www.cardiacscience.com/blog, Twitter at http://twitter.com/cardiacscience, and YouTube at http://budurl.com/CSonYT

For information, contact (media) Anastasia Mironova amironova@cardiacscience.com+1.425.402.2092 | (investors) ir@optoindia.com | +91.80.2852.8088 LOGO: http://www.cardiacscience.com/images/main_logo.gif