LiDCO, the UK-based, AIM-traded cardiovascular monitoring company, announces continuing progress in its second year of commercialization of its products.
Highlights:
Turnover increased by 70% to £1.7m (2002: £1.0m), and loss per share cut by 30% to 2.59p (2002: 3.69p);
Continued commercial validation of products evidenced by:
Sensor sales up 82% in period to 4,315 (2002: 2,375);
100 PulseCO and 69 combined LiDCOplus monitors sold (2002: 101 PulseCO Systems and 56 LiDCO Systems);
Successful launch of the combined LiDCOplus monitor (which replaces both the LiDCO and PulseCO monitors) with improved ease of use and higher margins;
Registration by Nipro Corporation of the PulseCO System in Japan in August 2003, with market launch expected in Q4 of 2003;
Marketing authorizations for lithium chloride received for: Belgium, Holland, Germany and Spain, enabling the first European sensor sales to commence;
Cash burn reduced by 48%; and
Discussions concerning a US distribution partner are progressing well. William Blair International Limited, the London subsidiary of Chicago-based investment bank William Blair & Company, has been appointed by the Company to facilitate and assist in these discussions.
LiDCO Ltd Sales and Marketing, Unit M South Cambridge Business Park, Babraham Road, Sawston, Cambridge CB22 3JH, UK Telephone: +44 (0) 1223 830666 Fax: +44 (0) 1223 837241 VAT number 672 4757 08
