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LiDCO Group

  • BY: Andrew Hore |
  • POSTED: 31/10/2011 |

Heart monitoring equipment developer LiDCO is on course to move into profit in the second half. 

LiDCO lost £242,000 in the six months to July 2011, down from a £577,000 in the first half of the previous year. Revenues grew from £2.66m to £3.22m. The timing of US orders meant that the revenue growth was achieved even though US sales were slightly lower at £836,000. There should still be growth in US revenues for the year as a whole.

Net cash was £1.01m at the end of July 2011. There was a small cash outflow from operations in the six month period.

There was an initial contribution of £294,000 from sales of third party Argon equipment and LiDCO has signed an agreement to become UK distributor for ICU Medical’s equipment. ICU was also granted access to certain LiDCO intellectual property. LiDCO does not hold stocks of third party products.

Recurring income from disposables is becoming increasingly important and it is 83% of UK revenues.

The shares rose by 15% over the past week. At 15p a share, LiDCO is valued at £26.1m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2011_25.pdf

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