MONTREAL, Aug. 9 /CNW Telbec/ - 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 www.sedar.com, in the
United States at www.sec.gov and at www.lmsmedical.com.
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.
For further information:
For further information: about LMS Medical Systems please contact: Yves
Grou, Chief Financial Officer, LMS Medical Systems Inc., (514) 488-3461 Ext.
238, Fax: (514) 488-1880, email@example.com, www.lmsmedical.com; Jeff
Walker, Grant Howard, The Howard Group Inc., Toll Free: 1-888-221-0915,