LONDON (Alliance News) - LiDCO Group PLC said Monday it expects to report a fall in revenue for its recently ended financial year as a result of a number of monitor purchased outright, as opposed to rented, slipping into its current year.
The cardiovascular monitoring company expects to report revenue of GBP7.6 million for the year to end-January, down from GBP8.3 million a year before. It expects to make a small profit in its second half.
LiDCO said it is confident that a contract it has won with MedAssets Inc in the US will generate orders and revenues in the first half of its current year, and it expects additional revenue streams from a royalty licence through its partnership with ICU Medical Inc.
LiDCO will announce its full-year results on April 12.
"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," said Chief Executive Officer Matt Sassone in a statement.
Shares in LiDCO were down 5.5% at 6.50 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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