13 October 2015
LiDCO (AIM: LID), the hemodynamic monitoring Company, announces its unaudited Interim Results for the six months ended 31 July 2015
Download PDF Results
Financial Highlights
- Total revenue of £3.60m (2014: £3.71m) in line with trading update of 2 September 2015
- Surgery disposables (excluding 3rd party products) revenue up 2% to £1.48m (2014: £1.45m)
- EU & ROW distributor revenues up 8% to £550,000 (2014: £509,000)
- Loss before tax* £525,000 (2014: £190,000) after planned increase in sales infrastructure costs
- Loss per share 0.36p (2014: 0.13p)
- Cash at period end £1.39m (31 Jan 2015: £1.51m). Company remains debt free and well-funded
* before share based payments and exceptional item
Operational Highlights
- 5 year agreement signed with US group purchasing organisation MedAssets working on behalf of a large US healthcare group comprising 38 hospitals across 8 states
- 65 monitors sold/placed in the period (2014: 128); 29 surgical monitors (2014: 33) installed in the UK
- Disposable unit sales of 24,970 (2014: 25,721) with key surgical disposables units up 1%
- Battery powered monitor stand launched enabling portable continuous hemodynamic monitoring across the clinical pathway
- Development of LiDCOrapidv3 Unity product on track with registration expected later this year
- Reimbursement approval in Japan for LiDCOrapidv2 disposables
- Further evidence supporting clinical use of hemodynamic monitoring technology to improve patient outcomes and improve clinical care
- Change of CEO, Matt Sassone taking over the role from Terry O'Brien in mid-August 2015
Commenting on the results Matt Sassone, Chief Executive Officer, said:
'This is a year of transition and whilst the results of the first six months were below internal expectations, I am encouraged by the outlook for the business. I am extremely grateful to former CEO Terry O'Brien for creating a business where the technology has such a significant impact on patient outcomes and the fundamentals of the business model are so compelling. We are focused on realising the strategic levers to drive greater sales growth and I am pleased to announce that we have successfully concluded negotiations with a large US hospital care provider and will now commence the rollout of LiDCO products in the 38 hospitals covered by this agreement.'
For further information, please contact:
LiDCO Group Plc | www.lidco.com |
Matt Sassone (CEO) Paul Clifford (Finance Director) | Tel: +44 (0)20 7749 1500 |
FinnCap | |
Geoff Nash / Emily Watts (Corporate Finance) Stephen Norcross (Corporate Broking) | Tel: +44 (0)20 7600 1658 |
Walbrook PR Ltd | Tel: 020 7933 8780 or lidco@walbrookpr.com |
Paul McManus Lianne Cawthorne |
Mob: 07980 541 893 Mob: 07584 391 303 |
Back to News Releases
distributed by |