LMS Q-4 revenue increases 575% to $1.5 million
May 15 2007 - 9:00AM
PR Newswire (US)
REVENUES FOR THE FISCAL YEAR INCREASE 81% TO $2.9 MILLION CONTRACT
BACKLOG INCREASES 26% IN 4TH QUARTER TO $4.4 MILLION MONTREAL, May
15 /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 its preliminary unaudited revenues for
the fourth quarter of fiscal 2007 ended March 31, 2007. All amounts
are in Canadian dollars. Comparative quarterly revenue for Q4 2007
increased 575% to $1.5 million from $262,000 in addition to which
orders signed though not completed due to client availability or
timely recognition of revenue represented an additional $900,000 or
total realized contracts of $2.4 million for the quarter. Annual
comparative revenues increased 81% to $2.9 million from $1.6
million in 2006. The backlog of signed and recurring contracts
increased by 26% to $4.4 million from $3.5 million reported the
previous quarter and by 120% or $2.4 million from the $2.0 million
reported in Q1 2007. The continued increase in revenues is a
reflection of new hospital installations completed during the last
quarter as well as related recurring maintenance and technical
revenues, which continue to grow as a result of an increasing
client base. Business Outlook and Guidance LMS anticipates that the
revenue and backlog growth will continue due to following factors:
- LMS' growing presence in the marketplace is the result of sales
efforts with several hospital groups, the continued success of
which should drive further additional revenue opportunities. -
Significant increases in revenues related to CALM Clinical
Information Systems and our risk management tools are anticipated
pending the release of interoperability components for a private
branded product developed in conjunction with McKesson. Commercial
availability of this product is scheduled for this summer. -
Additional revenues expected from the commercial release of CALM
Patterns this year. - Expanding pipeline of additional new products
and business alliances, are being pursued to open additional market
opportunities and extend the reach of LMS existing line of software
and risk management tools. - 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
audited results for the fiscal year ended March 31, 2007 along with
Management's Discussion and Analysis will be released in normal
course on or about June 13th 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: Yves Grou, Chief Financial Officer, LMS Medical Systems
Inc., (514) 488-3461 Ext. 238, Fax: (514) 488-1880, ;
http://www.lmsmedical.com/; David Gordon or Grant Howard, The
Howard Group Inc., Toll Free: 1-888-221-0915, ;
http://www.howardgroupinc.com/
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