Exhibit 99.1

The following unaudited pro forma condensed consolidated financial statements present the historical financial statements of Comarco, Inc., (the “Company”) with adjustments relating to the sale, pursuant to the Asset Purchase Agreement, of the Company’s call box business which was completed on July 10, 2008. The unaudited pro forma condensed consolidated balance sheet as of April 30, 2008 is presented as if the sale had been completed on April 30, 2008. The unaudited pro forma condensed consolidated statements of operations for the three month period ended April 30, 2008 and the year ended January 31, 2008 are presented as though the sale had been completed on February 1, 2007.

These unaudited pro forma condensed consolidated financial statements should be read in conjunction with our historical consolidated financial statements and accompanying notes previously filed in our Form 10-K for the year ended January 31, 2008 and Form 10-Q for the three month period ended April 30, 2008. The unaudited pro forma consolidated financial statements are not necessarily indicative of the results of operations or financial position of the Company that would have been reported had the sale been completed as of the dates presented, and are not necessarily representative of the future consolidated results of operations or financial position of the Company.

Pursuant to the terms of the Asset Purchase Agreement, the Company sold the net assets of the call box division on July 10, 2008 for total cash of $2.7 million which was received on July 10, 2008. The purchase price was determined based upon the net assets of the call box division as of June 30, 2008 and therefore, an adjustment will be made to the purchase price for call box operations from July 1, 2008 through July 10, 2008. The Company expects to record a gain on the sale of net assets of approximately $0.4 million and expects to incur transaction costs consisting primarily of legal and accounting fees of approximately $0.1 million.

Commencing with its second quarter filing, the Company will account for the operations of its call box business as a discontinued operation in accordance with Statement of Financial Accounting Standards No. 144, Accounting for the Impairment or Disposal of Long-lived Assets.

COMARCO, Inc.

Unaudited Pro Forma Condensed Consolidated Balance Sheet

As of April 30, 2008

(In thousands)

	Comarco Historical		Less: Adjusted Call Box Historical		Comarco Pro Forma
Current Assets:
Cash and cash equivalents	$	10,068	$	—	$	10,068
Short-term investments		146		—		146
Accounts receivable, net		15,636		973		14,663
Inventory, net		4,619		1,504		3,115
Other current assets		965		15		950
Total current assets		31,434		2,492		28,942
Property and equipment, net		2,472		14		2,458
Software development costs, net		153		—		153
Acquired intangible assets, net		546		—		546
Goodwill		1,898		—		1,898
Restricted cash		250		—		250
Other assets		17		13		4
Total assets	$	36,770	$	2,519	$	34,251
Current Liabilities:
Accounts payable	$	985	$	43	$	942
Deferred revenue		4,797		562		4,235
Deferred compensation		146		—		146
Accrued liabilities		9,620		543		9,077
Total current liabilities		15,548		1,148		14,400
Fin 48 tax liability		86		—		86
Deferred rent		522		—		522
Deferred revenue		1,354		15		1,339
Total liabilities		17,510		1,163		16,347
Stockholders’ Equity:
Common stock		733		—		733
Paid-in capital		14,536		—		14,536
Retained earnings		3,991		1,356		2,635
Total stockholders’ equity		19,260		1,356		17,904
Total liabilities and stockholders’ equity	$	36,770	$	2,519	$	34,251

Note: The call box historical amounts disclosed above exclude certain allocations made for business segment reporting as disclosed in the Company’s Form 10-Q for the quarter ended April 30, 2008.

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COMARCO, Inc.

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For the Three Months Ended April 30, 2008

(In thousands, except per share amounts)

	Comarco Historical			Less: Adjusted Call Box Historical		Comarco Pro Forma
Revenue	$	12,333		$	2,421	$	9,912
Cost of revenue		7,653			1,464		6,189
Gross profit		4,680			957		3,723
Selling, general and administrative expenses		4,312			83		4,229
Engineering and support costs		2,078			100		1,978
Operating income (loss)		(1,710	)		774		(2,484	)
Other income, net		53			—		53
Income (loss) before income taxes		(1,657	)		774		(2,431	)
Income tax expense		—			—		—
Net income (loss)	$	(1,657	)	$	774	$	(2,431	)
Basic and Diluted:
Net loss per share	$	(0.23	)			$	(0.33	)
Weighted average shares outstanding		7,327					7,327

Note: The call box historical amounts disclosed above exclude certain allocations made for business segment reporting as disclosed in the Company’s Form 10-Q for the quarter ended April 30, 2008.

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COMARCO, Inc.

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For the Year Ended January 31, 2008

(In thousands, except per share amounts)

	Comarco Historical			Less: Adjusted Call Box Historical		Comarco Pro Forma
Revenue	$	23,200		$	11,109	$	12,091
Cost of revenue		17,374			6,311		11,063
Gross profit		5,826			4,798		1,028
Selling, general and administrative expenses		10,244			356		9,888
Asset impairment charge		496			496		—
Engineering and support costs		8,799			387		8,412
Operating income (loss)		(13,713	)		3,559		(17,272	)
Other income, net		842			—		842
Gain on sale of investment in SwissQual		1,976			—		1,976
Gain on sale of equipment, net		321			—		321
Income (loss) before income taxes		(10,574	)		3,559		(14,133	)
Income tax expense (benefit)		(590	)		—		(590	)
Net income (loss)	$	(9,984	)	$	3,559	$	(13,543	)
Basic and Diluted:
Net loss per share	$	(1.36	)			$	(1.85	)
Weighted average shares outstanding		7,338					7,338

Note: The call box historical amounts disclosed above exclude certain allocations made for business segment reporting as disclosed in the Company’s Form 10-K for the year ended January 31, 2008.

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