News blog
LiDCO Group
- BY: Andrew Hore |
- POSTED: 23/04/2009 |
LiDCO Group increased the installed base of its monitors by 28% to 1,510.
LiDCO develops and manufactures minimally invasive monitoring technology, which monitors the amount of blood flowing round the body. The company launched the LiDCOrapid monitor during 2008 and it accounted for 298 of the 310 monitors sold in 2008. The LiDCOrapid is cheaper than the original monitors so monitor revenues were flat.
Revenues grew 12% to £4.53m in the year to January 2009, with nearly all of the improvement coming in the second half. The growth mainly came in the consummables sales. The loss fell slightly from £1.99m to £1.77m.
The UK and Europe were the main growth areas in 2008 but the US should be an important source of growth this year.
There is cash in the bank of £487,000 and net debt of £131,000. There is an overdraft facility of £250,000 and a £1m invoice discounting facility. Management believes it has enough cash to get it through to profitability.
Analysts expect LiDCO to sell 500 monitors this year. This will also help to increase consummables sales.
At 10.75p a share, LiDCO is valued at £15.3m.
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