Preliminary Results for the year to 31 January 2010

26 April 2010

LiDCO (AIM:LID), the UK-based hemodynamic monitoring company, today announces its Preliminary Results for the year to 31 January 2010.

Financial Highlights

• Revenue up 18% to £5.37m (2008/9: £4.53m)
• Export sales £3.54m now 66% of income and up by 50% (2008/9: £2.36m)
• USA sales biggest contributor up by 120% to £2.28m (2008/9: £1.03m)
• Recurring revenue up 22% to £3.13m (2008/9: £2.57m)  – now 58% of revenue
• Operating loss reduced by 14% to £1.54m (2008/9: £1.80m)
• Loss per share reduced to 0.87p (2008/9: 1.16p)
• Strengthened balance sheet – cash balance £1.85m (2008/9: £0.49m),
• Borrowings repaid and £3.02m of equity raised in the year

Operational Highlights

• LiDCO products now distributed by Covidien in the USA, the Group's biggest market
• Highest single year increase in installed monitor base. LiDCOplus & LiDCOrapid monitors installed base up 37% to 2,075. 565 monitors sold or placed in the period (2008/9: 326)
• Sensors, smartcard and fees-per-use volumes up 26% to 37,918 units (2008/09: 30,125 units)
• Selected as sole technology for OPTIMISE - UK Government sponsored multi-centre clinical outcomes study
• Second generation LiDCOrapid v1.02 software launched
• Work commenced to integrate Covidien's depth of anesthesia Bispectral Index (BIS) product onto LiDCOrapid platform monitor
• LiDCOrapid Japanese registration progressing - launch expected in 2011

Commenting on the results Terry O’Brien, Chief Executive, said: “The Board is confident that LiDCO with its much strengthened balance sheet and commercial partners has the finances, products and increasingly the sales reach to compete effectively in this growing market opportunity. The Board looks to the future with increasing confidence and the Group remains on track to deliver its maiden profit this year.”

The investor presentation "LiDCO’s Preliminary Results – twelve months to 31 January 2010" will be available from today on the LiDCO website (www.lidco.com).

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About LiDCO Group Plc

LiDCO is a supplier of minimally invasive hemodynamic monitoring equipment and disposables to hospitals. These products are used primarily for the management of adult hospital patients requiring critical care or at major cardiovascular risk. LiDCO's computer-based technology can 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. LiDCO is based in the UK and its shares are traded on AIM. For more information please see www.lidco.com.

The Company's sales office is in Cambridge, its manufacturing facility / general administration base is in Hoxton, London, and its current products are:

* LiDCOplus is a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%)

* LiDCOrapid: our new cardiac output monitor designed specifically for use in the Operating Theatre for fluid and drug management. The monitor enables acute-care physicians to get accurate and immediate feedback on the patient’s fluid and hemodynamic status – a key measure of overall well-being both during and after surgery.  The benefits are:

• Early and rapid warning of hemodynamic change
• Quantification of hemodynamic response, particularly stroke volume
• Guides more effective delivery of fluids – the right amount at the right time
• Advanced hemodynamic care has been shown to contribute to:
  - Reduced morbidity and complications, length of stay & overall cost of care

* LiDCO single-patient-use disposables used in conjunction with the LiDCOplus and LiDCOrapid.

* LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.

*  LiDCO’s Distribution Network:

The Company sells via its own direct sales force to hospitals in the UK, and in export markets predominantly through a worldwide network of speciality critical care and anesthesia distributors.