LMS announces second quarter 2006 financial results - 2nd quarter revenue increases by $475,000 to $551,000
November 07 2005 - 4:10PM
PR Newswire (US)
MONTREAL, Nov. 7 /PRNewswire-FirstCall/ -- LMS Medical Systems
(TSX: LMZ, AMEX: LMZ), a healthcare technology company and
developer of the CALM(TM) system today reported results of
operations for the second quarter ended September 30th, 2005. All
amounts are in Canadian dollars. Revenue for the second quarter
totaled $551,000 versus $76,000 for the same period last year.
Revenue for the six months ended September 30, 2005 was $819,000
compared to $308,000 for the same period in the prior year. The
increase in revenue is the result of new hospital installations
occurring subsequent to the release of CALM(TM)3.0. The loss for
the second quarter of fiscal 2006 was $2,133,000 ($0.13 per share)
versus a loss of $2,275,000 ($0.16 per share) for the same period
in fiscal 2005. The decreased loss is a function of the increase in
revenue during the period, offset by higher net research and
development expenses resulting from a decrease in the amount of
claimable investment tax credits and higher administrative costs
associated from being a public company in the U.S. and Canada.
Cash, cash equivalents and short-term investments held to maturity,
as at September 30, 2005, totaled $8,345,000 versus $11,858,000 as
at March 31, 2005. The decrease of $3,513,000 is predominantly a
function of our net loss for the six months ended September 30,
2005, offset by non cash items and net changes in non cash working
capital. An expanded Management's Discussion and Analysis for the
quarter, and previous periods, is accessible on the LMS website at
http://www.lmsmedical.com/ Highlights: - Revenue for the quarter
totaled $551,000 versus $76,000 for the same quarter in the prior
year. Revenue for the six months ended September 30, 2005 was
$819,000 compared to $308,000 for the same period in the prior
year. Sales of the Company's CALM 3.0 software, which became
available to the marketplace at the end of August 2005, accounted
for a substantial portion of the revenues. - We have completed CALM
3.0, our labor and delivery product suite for large scale health
facilities and released the final product in the second quarter.
CALM 3.0 is the newest release of our CALM suite of products, and
is currently scheduled for installation at a number of leading U.S.
based hospitals. - We unveiled CALM(TM) Shoulder Screen, a new
addition to our OB Guidance line of products. CALM Shoulder Screen
focuses on the prediction of shoulder dystocia, a key obstetrical
challenge. We expect to release a web based version of this product
in the coming weeks. - We received the CE mark for CALM(TM)
Patterns. CALM Patterns forms a suite of tools with CALM(TM) Curve
and CALM Shoulder Screen. This clearance enables LMS to extend the
full suite of CALM risk management solutions into additional
geographic territories. The release of CALM Patterns is scheduled
for the first half of 2006. - Ms. Catherine Rommal was appointed to
our Risk and Patient Safety Advisory Board. Ms. Rommal is a
consultant and principal of Perinatal Risk Consulting. To date, Dr.
Thomas J. Garite, Professor Emeritus in the Department of
Obstetrics and Gynecology at the University of California, Irvine,
Editor in Chief of the American Journal of Obstetrics and
Gynecology; Dr. Eric Knox, Professor of OB/GYN at the University of
Minnesota and Dr. Marilyn Sue Bogner, President and Chief Scientist
with the Institute for the Study of Human Error have been appointed
to the Advisory Board. Presiding as Chair is Mr. Harry G. Hohn of
New York. Mr. Hohn is the former Chairman and Chief Executive
Officer of New York Life. ABOUT LMS: LMS is a leader in the
application of advanced mathematical modeling and neural networks
for medical use. The LMS CALM(TM) Decision Support Suite provides
physicians, nursing staff, risk managers and hospital
administrators with clinical information systems and decision
support tools designed to improve outcomes and patient care for
mothers and their infants during labor and delivery. 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 or 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: please contact:
Andrea Miller, Communications, LMS Medical Systems Inc., (514)
488-3461 Ext. 222, Fax: (514) 488-1880, ; Web :
http://www.lmsmedical.com/
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