LiDCO : Trading update

LiDCO Group Plc

('LiDCO' or the 'Company')

Trading update and notice of results

LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, provides the following trading update for the full year ended 31 January 2016.

Whilst the Company had a stronger second half, total revenues for the full year were lower than expected largely due to the timing of capital monitor purchases, a number of which have slipped into the current financial year. Total revenues for the full year are expected to be £7.6m (2015: £8.3m). Total LiDCO disposable sales are expected to be £4.8m (2015: £5.0m) and monitor sales are expected to be £0.8m (2015: £1.3m). As a consequence, the Company expects to make a small profit in the second half of the year.

The Company was cash flow positive for the year with year-end cash balances of £1.59m (2015: £1.51m) and remains debt free.

The Company has developed substantial pipelines in both of its direct markets. In the UK, where overall LiDCO's surgery business was similar to last year, the Company remains confident that there are opportunities by focusing its technology on specific patient groups and by expanding its market share. In the USA there is a large pipeline in addition to the five year contract awarded by MedAssets. LiDCO remains confident that this contract will generate orders and revenues in the first half of the current financial year. Additional revenue streams are expected during the current year from a royalty licence through the partnership with ICU Medical Inc., which has now commenced pre-launch promotional activities as they await USA FDA approval.

In the distribution market during the second half of the year the Company recommenced disposable sales to Japan. The Company has commenced its new approach to distributor management implementing a master distribution company network with the appointment of Fieldman for South East Asia and Australasia as announced in November 2015 and after the year-end the appointment of LOK Corporation for Canada. Accordingly, the Company is optimistic of the year ahead.

The Company will announce its final results to 31 January 2016 on 12 April 2016.

Commenting, Matt Sassone, Chief Executive Officer of LiDCO, said:'Since taking over as CEO six months ago my key objective has been to transition the business onto a sustainable growth trajectory. We have made good progress in re-structuring and focusing our sales resource and believe there remain large opportunities for LiDCO technology globally. Our immediate focus is on closing the large capital pipeline and delivering on the strategic activities that I detailed at the interims.'

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About LiDCO Group Plc (www.lidco.com)

LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO's products facilitate the application of hemodynamic optimisation protocols for high risk patients in both critical care units and in the operating theatre.

Increasingly clinical studies are showing that the optimisation of patients' hemodynamic status in high risk patients produces better outcomes and reduced hospital stay. LiDCO's computer-based technology, developed at St Thomas' Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.

Key Products:

LiDCOplus: a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%).

LiDCOrapid: a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anaesthetists to receive accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being before, during and after surgery. The LiDCOrapidprovides:

· early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug

· quantification of hemodynamic response

· guidance on effective delivery of fluids to ensure the right amount at the right time

LiDCOview: an easy-to-use graphical display of historical LiDCOplusand LiDCOrapidhemodynamic data.

LiDCO Unity Software: software incorporated into LiDCOrapidv2 that allows the LiDCOrapidmonitor to co-display Covidien's level of consciousness parameter ('BIS)* and add the convenience of CNSystem's continuous non-invasive blood pressure monitoring ('CNAP')**. This will address a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors.

*BIS and Bispectral Index are trademarks of Covidien LP registered in the US and foreign countries.

**CNAP is a trademark of CNSystems Medizintechnik AG.

LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.

LiDCO Distribution Network:

LiDCO sells directly to hospitals in the UK and USAand through a network of specialty critical care and anaesthesia distributors in the rest of the world.

LiDCO's marketing office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM.

LIDCO Group plc issued this content on 08 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 February 2016 07:08:15 UTC

Original Document: http://www.digitallook.com/ir/security.cgi?csi=31227&action=news&story_id=23946629&rns=1