Preliminary Results for the twelve months ended 31 January 2014

29 April 2014

LiDCO (AIM:LID), the hemodynamic monitoring company, announces its audited Final Results for the year ended 31 January 2014, a year characterised by strong growth in UK sales as more NHS hospitals adopt fluid and level of consciousness monitoring and a move into profitability. Download Results PDF
Financial Highlights
  • Total revenue up 20% to £8.63m (2012/13: £7.21m)
  • LiDCO product revenue (excluding third party products) up 25% to £6.87m (2012/13: £5.49m)
  • LiDCO disposables revenue up 33% to £5.15m (2012/13: £3.88m) - now 75% of LiDCO product revenues
  • UK revenue (excluding third party sales) up 37% to £4.40m (2012/13: £3.20m)
  • Gross profit up £1.08m to £5.90m (2012/13: £4.82m)
  • Maiden profit before tax* £0.28m (2012/13: £0.34m loss)
  • EBITDA* of £1,151,000 (2012/13: £515,000)
  • Earnings per share 0.15p (2012/13: 0.07p loss)
  • Cashflow positive with cash of £2.37m at period end (2012/13: £2.06m)

*before share based payments

Operational Highlights
  • 303 monitors installed (2012/13: 276); 120 surgical monitors (2012/13: 77) installed in the UK
  • Disposable unit sales up 23% to 60,857 (2012/13: 49,413), with surgical disposables up 39%
  • UK surgical disposables unit sales up 59% to 23,570 (2012/13: 14,855)
  • EU and US approvals for LiDCOrapidv2 with Unity Software including continuous non-invasive blood pressure monitoring
  • Grant of patent in US and Japan for LiDCOrapid graphical user interface
  • Growing body of evidence supports increasing clinical use of hemodynamic monitoring technology

Commenting on the results Terry O'Brien, Chief Executive Officer, said: "We start the new financial year with a solid platform to deliver further growth. The business is now profitable and cash generative and we hold a strong market position with our clinically proven, cost effective and patented core technology. This has been most clearly demonstrated in the strong take up of LiDCO monitors by the NHS over the last year. This bodes well for future performance as we see the benefit of increasing disposable usage from a growing base of installed monitors.

"We believe that LiDCO monitors have the potential to become the 21st century standard for the fluid and hemodynamic monitoring of high-risk patient populations in hospitals and we expect 2014 to be another strong year of growth for the Company."

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LiDCO Group Plc
Terry O'Brien (CEO)
Paul Clifford (Finance Director) 		Tel: +44 (0)20 7749 1500

www.lidco.com

FinnCap
Geoff Nash / Henrik Persson (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 (Media Relations)
Paul Cornelius (Investor Relations) 		Mob: 07980 541 893
Mob: 07827 879 496

The Company presentation will be available from today on the LiDCO website: www.lidco.com

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