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Lidco's recurring revenues soar as HUP offering picks up steam

Wed, 20th Feb 2019 08:11

(Sharecast News) - Hemodynamic monitoring outfit Lidco saw recurring revenues soar in its last trading year after the group made continued progress with its high usage programme (HUP) business model in the first 18 months since its launch.Lidco said its HUP offering saw revenues more than double to £1.5m per year as contracts shot up from the 96 it had inked at the end of its last financial year to 191 as of 31 January.On the other hand, product revenues slumped 10% to £6.19m as the group's attempts to transition larger UK customers to its SaaS business model deferred revenue from the current financial yearThird party sales also fell 19% to £1.13m after Lidco terminated its distribution contract with Argon during the year.However, Lidco noted that although total revenues were "marginally below market expectations", the group said the effect on its bottom line would be mitigated by a "favourable LiDCO product mix generating higher gross margins and overheads."Chief executive Matt Sassone said: "Whilst the transition to the HUP business model has a short-term effect of deferring sales, we are encouraged by the progress made having built a recurring revenue base of over £1.5m in just 18 months from the launch of the HUP business model."The fundamentals of our business remain strong and we believe that this is reiterated by our new customer wins this financial year. With continued focus on LiDCO's HUP model, we are well-placed to grow the business in line with our objectives over the short to medium term."As of 1030 GMT, Lidco shares were up 1.15% to 4.40p.
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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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