28 Feb 2008 07:00
For immediate release 28th February 2008 LiDCO Group Plc ("LiDCO" or the "Company") Trading Update
LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, today announces a trading update for the year ended 31 January 2008, ahead of its Preliminary results which the Company will release on Thursday 24 April 2008.
The Board is pleased to report that LiDCO has met expectations formed in January 2007. Revenue growth is expected to be in excess of ‚£4.0 million - up by 18% and losses (after tax) reduced by an even larger percentage (22%) - from ‚£2.3 million to approximately ‚£1.8 million.
In November 2007, the Company raised approximately ‚£2 million via a cash Placing. Cash at the year end was ‚£2.3 million, which is sufficient in the opinion of the Directors to fund Company plans regarding the marketing, sales and distribution of its growing product range.
Dr Terry O'Brien, CEO LiDCO Group commented:
"There is a growing feeling of momentum at LiDCO. The LiDCOplus intensive care offering has been well received and we have continued to build our core installed base of monitors. In the next financial year we expect to see an increasing contribution to sales revenue from both the expansion of our product offering and enlargement of our distributor network."
- ENDS -
For more information please contact:
LiDCO Group Plc Tel: +44 (0)20 7749 1500
Terry O'Brien - Chief Executive
Theresa Wallis - Chairman
John Rowland - Company Secretary
Buchanan Communications Tel: +44 (0)20 7466 5000
Tim Anderson, James StrongNotes for EditorsAbout 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 (PPV% and SVV%).
* LiDCO disposables: used in conjunction with the LiDCOplus Monitor to accurately determine cardiac output in a minimally-invasive manner.
* LiDCOview is designed as a graphical display of historical LiDCOplus hemodynamic data. LiDCOview provides both the clinical researcher and the routine user with easy to view beat-to-beat hemodynamic data that was collected with the LiDCOplus.. LiDCOviewSE is the standard version of this tool and is available for free, allowing anyone to download and access data from the LiDCOplus. LiDCOviewPRO is the Professional version, allowing users to analyse, export and report the LiDCOplus data. A free trial of LiDCOviewPRO is available for evaluation purposes prior to purchase.
* 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 speciality critical care and anesthesia distributors.
LIDCO GROUP PLC