Information  X 
Enter a valid email address

Lifeline Scientific (LSI)

  Print      Mail a friend

Monday 17 January, 2011

Lifeline Scientific

Trading Statement

RNS Number : 5446Z
Lifeline Scientific, Inc
17 January 2011
 



Monday 17 January 2011

 

Lifeline Scientific, Inc

("Lifeline" or "the Company")

 

Trading Update

 

- Full year PBT expected to be significantly ahead of expectations -

 

 

Lifeline Scientific, the medical technology company focused on the worldwide commercialisation of its proprietary LifePort Kidney Transporter and other products designed to address the global challenge of human donor organ shortages, issues the following trading update for the year ended 31 December 2010.

 

As reported in September, 2010 at the time of its interim results, revenues had increased, gross margin was up and PBT was ahead of management expectations and this performance has strengthened in the second half of the year. As a result, Lifeline is expecting to report revenues for the period in excess of market expectation at approximately US$23 million (2009: US$18.3  million), which due to the Company's operational leverage is expected to result in adjusted PBT being significantly ahead of market expectations.*

 

This strong performance is principally driven by the higher than expected volume of LifePort usage and related disposable sales driven by the growing body of strong scientific and clinical transplant evidence in support of LifePort versus the conventional box of ice method of kidney preservation.

 

 

*  Does not include adjustments for share based payments, GAAP adjustments for changes in the fair value of the warrants (which have now expired) and intangible amortisation. 

 

 

Enquiries:

 

Lifeline Scientific, Inc.

+ 1 847 824 2420

David Kravitz, CEO


Seymour Pierce

+44 (0)20 7107 8000

Sarah Jacobs - Corporate Finance

David Banks - Corporate Broking


Financial Dynamics

+44 (0)20 7831 3113

Ben Brewerton / Jonathan Birt / John Dineen

 


 

 

Notes to Editor

 

About the LifePort Kidney Transporter

Created with the challenges of organ recovery and transport in mind, LifePort Kidney Transporter is designed to provide improved kidney preservation, evaluation and transport prior to transplantation.  LifePort provides a sealed, sterile, protected environment where a solution is gently pumped through the kidney at cold temperatures to minimize damage while the organ is outside the body.  LifePort is lightweight and portable, allowing organs to be perfused from the time of recovery until transplant.  It is designed to travel unaccompanied by land or air, safely transporting the kidneys across town or between countries.  While the kidney is being perfused, the LifePort records data on temperature, flow rate, vascular resistance and pressure every 10 seconds providing surgeons with additional data prior to transplant. LifePort is the global market leading technology for machine preservation of kidneys and the only system with published clinical data produced from large scale, independent, prospective, randomized, multi-center clinical trials that demonstrates reduction in the incidence and duration of delayed graft function and increased 1 year graft survival in kidney transplantation.   

 

About Lifeline Scientific Inc. 

Lifeline Scientific, Inc. is a Chicago-based global medical technology company with European headquarters located in Brussels.  Its primary focus is to commercialise its FDA approved, CE marked, and clinically validated LifePort Kidney Transporter and related organ preservation products. Devices for preservation of the liver, pancreas, heart, and lung are in late stage pre-clinical development.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTDDGDBGGBBGBL