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Lidco warns on profit

Mon, 18th Aug 2014 13:17

Cardiovascular monitoring group Lidco disappointed with its trading update on Monday after revealing that annual growth in both revenues and profits is expected to be below its previous expectations. Group revenues in the first half are expected to total £3.7m against £4.2m a year earlier, which the AIM-listed company blamed on the slowdown of recent destocking in the UK and a lack of sales to its distributor in Japan. Although the company's installed base grew by 33 surgery monitors in the first half, revenues in the UK are now expected to be £2.6m, compared to £3.1m in the comparative period. Lidco explained that the UK market has seen a "noticeable shift" from capital sales to placement of monitors, together with a level of overstocking of disposables in the prior period, when the company experienced 59% growth in surgical disposables. UK surgical disposables sales were on par with last year at 11,000 units. In the US, revenue jumped more than 40%, while sales to the distributor in Japan are expected to restart in the second half. The group explained that the fall in revenues has been partly mitigated by improved disposable pricing and tight control in overheads. The company still expects to show growth in profitability year-on-year. Chief executive officer Terry O'Brien said: "Whilst we are disappointed with the lack of growth in UK surgical disposables and the shift from capital sales of monitors to placements, the fact that we have increased the installed user base by 33 units bodes well for the return to growth of our higher margin disposable product. The over 40% uplift in US sales demonstrates the effectiveness of our strategy in that key market and we hope to build on this further."We still expect this to be a year of progress, showing growth in both revenues and profitability over the previous year, and coupled with this we expect to be debt free by the year end."Shares had declined 17.22% to 14.28p by 12:08.NR
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12 Feb 2014 10:53

LiDCO Expects To Swing To Pretax Profit In Full Year, As Expected

LONDON (Alliance News) - LiDCO Group PLC Wednesday said it expects pretax profit for the year ended January 31 to be in line with expectations, compared with a loss of GBP260,000 a year earlier. In a trading update ahead of its full-year results, the cardiovascular monitoring company said r

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12 Feb 2014 08:25

UK MORNING BRIEFING: Telecity Drops 13% As Market Awaits BOE

LONDON (Alliance News) - Shares have opened mostly flat Wednesday, as the market awaits the Bank of England's Quarterly Inflation Report at 1030 GMT.

Telecity is holding back the FTSE 250. The data-centre provider is down 13% after announcing higher 2013 profit and

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1 Oct 2013 08:47

LiDCO cash-flow positive as losses come down in first half

Surgical blood monitoring group LiDCO said it expected to be cash generative and profitable in the full year after slashing losses in the first half. Chief Executive Officer Terry O'Brien said the company had seen significant sales growth in the UK and export markets in the six months to end-July

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26 Sep 2013 08:18

LiDCO Granted Graphical User Interface Patent By US Patent Office

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4 Sep 2013 10:35

LiDCO receives approval from FDA

LiDCO, a cardiovascular monitoring company, said Wednesday that the US Food and Drug Administration (FDA) has cleared its CNSystems' continuous non-invasive blood pressure monitoring module for sale. The software enables the connection of modules to the LiDCOrapid cardiac output monitor allowing i

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4 Sep 2013 09:13

LiDCo Says Blood Pressure System Using Its Montior Gets FDA Clearance

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4 Sep 2013 08:18

STOCKS NEWS EUROPE-UK small caps outperform wider market

UK small caps and junior-listed AIM shares trade flat and up 0.1 percent respectively, outperforming the wider market where the mid-caps shed 0.6 percent and the blue chips trade 0.2 percent weaker. AIM-listed cardiovascular monitoring firm LiDCO Group advances almost 5 percent after the c

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5 Jun 2013 16:09

STOCKS NEWS EUROPE-UK small caps fall less than broader market

The FTSE small-cap index and the junior FTSE Alternative Investment Market (AIM) all-share index both end 1.3 percent lower, outperforming a 1.8 percent fall for the mid caps and a 2.1 percent drop on the blue chips. Shares in VPhase fall 44 percent to 0.26 pence as the AIM-listed energy ef

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5 Jun 2013 12:30

LiDCO surges on positive clinical trials

AIM-listed cardiovascular monitoring company LiDCO Group, has revealed that its LiDCOrapid blood monitoring system has been used successfully to monitor patients having major liver surgery. The hemodynamic system monitored cardiac output and guided intravenous fluid therapy in a randomised clinica

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17 Dec 2012 07:45

LiDCO drives US expansion

Cardiovascular monitoring company LiDCO confirmed that it has acquired the existing LiDCOrapid customer base from Covidien, its previous US distribution partner, as it beefs up commercial opportunities in the US. After an initial integration and switch-over period the group expects associated rev

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23 Aug 2012 16:00

Small caps round-up: Infrastructure India, SkyePharma, LiDCO Group

Infrastructure India, an AIM-listed investment group, pleased its investors with a 50.2 per cent leap in its net asset value (NAV) to 207.3m pounds over the year ended March. The value of the company's investments rose 94.9 per cent to 216.7m pounds, while the NAV per share climbed from 92p to 95p.

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24 Apr 2012 15:52

LiDCO posts maiden profit

LiDCO, the blood movement monitoring company, announced its maiden post-tax profit although phasing issues with a major customer meant the numbers were not as impressive as the market had been expecting. The company made a loss of £45,000 before tax in the year to January 31st, versus a loss of £49

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27 Oct 2011 06:54

Thursday tips round-up: BATs, CSR, Lidco...

British American Tobacco, the world's second-biggest maker of cigarettes, yesterday delivered a smoking set of results for the first nine months of this year, writes the Investment Column in the Independent. The volume of cigarettes sold by the group slipped by 0.4 per cent but BAT's ability to push

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23 Aug 2011 13:58

LiDCO's sales to grow 18%

Cardiovascular monitoring company LiDCO expects revenue in the six months ended 31 July to be 18% ahead of the first half of 2010. The firm predicts sales to be at least £3.1m, compared to the £2.66m reported the year before, while losses are said to have been "significantly reduced". Pre-tax losse

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20 Jul 2011 17:04

Premier Farnell director buys after shares wither

Premier Farnell non-executive director Paul Withers has taken advantage of a recent weak spell in the electrical components and industrial products supplier's share price, spending nearly £55,000. He took 30,000 shares at 183p a go, and now has 70,000. Shares in Premier Farnell took a dive earlier

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