21 Jun 2007 07:00
For Immediate Release 21 June 2007 LiDCO Group Plc ('the Company') AGM Trading Update Revenue Growth - Driven by Monitor Placements
LiDCO, the UK based, AIM-quoted cardiovascular monitoring company, will today hold its Annual General Meeting at 11am. At the meeting Dr. Terry O'Brien, Chief Executive of LiDCO, will provide the following update on trading:
"The Company stated in its preliminary results in April that it had already seen a healthy increase in revenues. I am pleased to be able to report encouraging results for the first four months of trading to the 31st of May with sales up 61% over the equivalent period last year. Increased revenues have been achieved in all territories - with particularly marked growth seen in Europe. Sales have been driven by a shortening of the monitor sales cycle during the period. The installed base is now standing at 1098 units representing an increase of 189, 21%, over the last 12 months. Margins (excluding our leasing arrangements) have been maintained and administration expenses continue to be well controlled and within managements' budgets.
The Directors of the Company believe that the competitive activity remains strong and that LiDCO remains on track to achieving expectations."
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For more information please contact:
LiDCO Group Plc Tel: +44 (0)20 7749 1500 Terry O'Brien - Chief Executive
Buchanan Communications Tel: +44 (0)20 7466 5000 Tim Anderson, James Strong Notes for Editors
About LiDCO Group Plc LiDCO is a UK-based AIM-traded developer, manufacturer and leading supplier of minimally invasive, computer-based hemodynamic monitoring equipment and disposables used primarily for the management of critical care and cardiovascular risk hospital patients. Use of LiDCO's technology has been shown to significantly reduce the complications (particularly infections) and costs associated with major surgery. The technology was invented in the Department of Applied Physiology based at St Thomas' Hospital, London. For more information please see www.lidco.com.
The Company's manufacturing facility is in Hoxton, London and its current products are:
* LiDCOplus and PulseCO monitors: computer-based platforms for displaying a range of real-time, continuous hemodynamic parameters including cardiac output, oxygen delivery and fluid volume;
* LiDCO disposables: used in conjunction with the LiDCOplus Monitor to accurately determine cardiac output in a minimally-invasive manner.
* LiDCOview - software product for use on a PC: designed to aide clinical audit, teaching and research activities.
* LiDCOlive - software product in development for the remote display of hemodynamic monitoring parameters derived through use of the LiDCOplus monitor.
Distribution Network:
The Company has now achieved registration of its products in 14 markets in Europe, the USA, Brazil, South Korea and Japan. It sells direct in the UK and USA, and elsewhere through a worldwide network of specialty critical care distributors.
LIDCO GROUP PLC