LMS announces second quarter 2007 revenues - Total realized and signed Q2 contracts reach $1 million - Contract backlog increase
October 30 2006 - 4:52PM
PR Newswire (US)
MONTREAL, Oct. 30 /PRNewswire-FirstCall/ -- LMS Medical Systems
(TSX: LMZ, AMEX: LMZ), a healthcare technology company and
developer of the CALM(TM) clinical information system and risk
management software tools for obstetrics, today reported revenues
for the second quarter of fiscal 2007 ended September 30, 2006. All
amounts are in Canadian dollars. Revenues in Q2 2007 were $276,000
compared to $551,000 in Q2 2006 while contracts signed though not
completed due to client availability or timely recognition of
revenue, represented an additional $750,000. The backlog of signed
and recurring contracts increased 37.5% to $2.75 million from $2.0
million reported in Q1 2007. Further, identified sales
opportunities increased 12% to $28 million up from $25 million
reported in Q1 2007. Year to date revenues increased by 11% to
$907,000 and recurring maintenance and technical revenues continue
to grow from our installed client base. Business Outlook and
Guidance LMS projects that revenue for the third and fourth quarter
will grow substantially compared to last year, with sustained
increases in the backlog of signed and recurring contracts, due to
following factors: - LMS' growing presence in the marketplace has
supported extensive sales efforts with several groups of hospitals,
which should drive additional revenue and backlog opportunities in
the next two quarters. - Newly signed contracts for CALM Shoulder
Screen with two organizations providing medical malpractice
insurance to physicians, University of Minnesota Physicians and
Tristate Medical Insurance Company, have an immediate impact on
LMS' backlog and quarterly revenues, starting in the third quarter
of 2007. In addition, both contracts continue to build LMS' profile
as a company providing leading proprietary software solutions
leveraging innovative approaches for obstetrical risk prevention
and reduction for insurers. - CALM Shoulder Screen continues to
gain momentum within the hospital environment as LMS, has received
orders from the University of Maryland Medical Center and the
OB/GYN Practice Group of the Montreal Jewish General Hospital. -
CALM Curve received Health Canada clearance as a standalone product
and became available as a seamless web offering similar to CALM
Shoulder Screen. This new standalone product will enable customers
to use this tool with no investment in infrastructure, which should
substantially reduce the sales cycle and bring forward additional
revenue opportunities. - Significant increases in revenues related
to CALM Clinical Information Systems and associated risk management
tools are anticipated pending the release of interoperability
components with our distributor. - As a result of increased system
sales and our growing client base, revenues from maintenance and
technical support service agreements are also expected to increase
commensurate with the growth of our installed base. Complete
results for the second quarter along with Management's Discussion
and Analysis will be released in normal course on or about November
14th 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: Contact: Yves Grou,
Chief Financial Officer, (514) 488-3461, ext.238, Fax: (514)
488-1880, ; http://www.lmsmedical.com/
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