LMS First Quarter 2008 Financial Results - Realized and signed contracts total $1.2 million for Q1 2008 Q1 revenue increases 52%
August 09 2007 - 9:45AM
PR Newswire (US)
MONTREAL, Aug. 9 /PRNewswire-FirstCall/ -- LMS Medical Systems
(TSX: LMZ, AMEX: LMZ), a healthcare technology company and
developer of the CALM(R) clinical information system and risk
management software tools for obstetrics, today reported its
unaudited financial results for the quarter ended June 30, 2007.
All amounts are in Canadian dollars. On the strength of new
installations and growing recurring maintenance and technical
service revenues, our comparative quarterly revenues for Q1 2008
grew 52% to $962,000 from $631,000. The revenue increases during
the quarter were the result of new contracts. The backlog of signed
and recurring contracts increased to $4.6 million from $4.4 million
in Q4 2007. Total realized and signed contracts during the quarter
reached $1.2 million. We expect our revenue and backlog to grow
over the course of the year. The net loss for the quarter was in
line with expectations at $2.08 million ($0.10 per share) compared
to $2.55 million ($0.15 per share) in 2006. Revenue growth of
$331,000 and lower overall expenditures of $220,000 contributed to
a lower loss. Cash, cash equivalents and short-term investments
held to maturity, as at June 30, 2007 totaled $3.15 million
compared to $3.38 as at March 31, 2007. FIRST QUARTER HIGHLIGHTS: -
Revenues increased by 52% or $331,000 to $962,000; - Backlog of
signed contracts grew from $4.4 million in Q4 2007 to $4.6 in Q1
2008; - Identified sales opportunities maintained at $25 million; -
Pilot implementation for the private label OB solution developed
with McKesson is now completed. LMS complete results for the
quarter ended June 30, 2007 along with Management's Discussion and
Analysis will be released in normal course on or about August 10th
and will be available in Canada at http://www.sedar.com/, in the
United States at http://www.sec.gov/ and at
http://www.lmsmedical.com/. ABOUT LMS LMS is a leader in the
application of advanced mathematical modeling and neural networks
for medical use. The LMS CALM(TM) Suite provides physicians,
nursing staff, risk managers and hospital administrators with
clinical information systems and risk management tools designed to
improve outcomes and patient care for mothers and their infants
during childbirth. Except for historical information contained
herein, the matters discussed in this news release are
forward-looking statements. Because these forward-looking
statements involve risks and uncertainties, there are important
factors that could cause actual results to differ materially from
those expressed implied by the forward-looking statements
including, but without limitation, economic conditions in general
and in the healthcare market, the demand for and market for our
products in domestic and international markets, our current
dependence on the CALM product suite, the challenges associated
with developing new products and obtaining regulatory approvals if
necessary, research and development activities, the uncertainty of
acceptance of our products by the medical community, the lengthy
sales cycle for our products, third party reimbursement,
competition in our markets, including the potential introduction of
competitive products by others, our dependence on our distributors,
physician training, enforceability and the costs of enforcement of
our patents, potential infringements of our patents and the other
factors set forth from time to time in the Company's filings with
the United States Securities and Exchange Commission and with the
Canadian Securities Commissions. The Company has no intention of or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
DATASOURCE: LMS MEDICAL SYSTEMS INC. CONTACT: about LMS Medical
Systems please contact: Yves Grou, Chief Financial Officer, LMS
Medical Systems Inc., (514) 488-3461 Ext. 238, Fax: (514) 488-1880,
, http://www.lmsmedical.com/; Jeff Walker, Grant Howard, The Howard
Group Inc., Toll Free: 1-888-221-0915, ;
http://www.howardgroupinc.com/
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