LiDCO : Preliminary Results for the twelve months ended 31 January 2015

31 March 2015

LiDCO (AIM:LID), the hemodynamic monitoring company, announces its audited Final Results for the year ended 31 January 2015, a year in which the Company grew sales of its high margin surgery disposables, increased gross margins and profitability ending the year debt free.

• Second consecutive profitable year, with profit before tax* up 18% to £0.33m (2013/14: £0.28m)
• Total revenue down 4% to £8.27m (2013/14: £8.63m)
• Gross margins (excluding third party products) improved to 82% (2013/14: 81%)
• Admin expenses reduced to £5.49m (2013/14: £5.66m)
• LiDCO product revenue (excluding third party products) £6.63m (2013/14: £6.87m)
• Surgical disposables revenue up 10% to £3.39m (2013/14: £3.08m)
• Export sales up 9% to £2.67m (2013/14: £2.46m); up 22% (excluding Japan)
• EBITDA* of £1.06m (2013/14: £1.15m)
• Earnings per share up 20% to 0.18p (2013/14: 0.15p)
• Debt free with cash at year end of £1.51m (2013/14: £2.37m)

* before share-based payments

• 267 monitors installed (2013/14: 303); 210 surgical monitors (2013/14: 268)
• Surgical disposables sales up in all territories other than Japan with UK up 4% to 24,410 (2013/14: 23,570)
• Surgical disposables unit sales up 10% to 44,758 (2013/14: 40,660)

• Registration of LiDCOrapidv2 Unity software and non-invasive blood pressure module in Japan
• Study shows LiDCO detects blood loss fastest
• Grant in the UK of combined hemodynamic and depth of anaesthesia patent
• Grant of patent in Japan for improved method of deriving cardiac output

Commenting on the results Terry O'Brien, Chief Executive Officer, said:"LiDCO has now reported two consecutive years of profitable trading. We are now debt free, well-funded and expect to be cash generative in the current financial year. We have a strong position in our domestic market coupled with a growing surgery disposables business both domestically and in export territories.

"We can expect 2015/16 to be our third successive year of profits. We are well resourced and organised for further growth through our direct sales organisation in the UK and increasingly see wider opportunities for growth with distribution partners."

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