LED Medical Diagnostics Reports First Quarter Results and Provides 2015 Guidance

LED Medical Diagnostics Inc. (TSXV:LMD) announced its financial results for the first quarter of 2015, which showed a revenue of $2.4 million.

As quoted in the press release:

• The Company reported revenue of $2.4 million during the three months ended March 31, 2015 which represents an increase of 131% over the same period in the prior year of $1.1 million. The increase in revenue was due primarily to the Company’s expanded imaging product offering that complements its VELscope product offering.
• Gross margin1 was 30% during the three months ended March 31, 2015 which was lower than 50% gross margins in the same period in the prior year. The decline in gross margin was attributable to the change in revenue mix attributable to the Company’s imaging product offering.
• EBITDA2 was negative $1.3 million during the three months ended March 31, 2015 representing an increase from negative EBITDA of $1 million in the same period in the prior year.
• The Company had a net loss of $1.4 million during the three months ended March 31, 2015 compared to a net loss of $2.9 in the same period in the prior year.

Financial guidance for 2015 fiscal year:

The Company is reaffirming guidance for the full fiscal year ending December 31, 2015 (“fiscal year 2015”). This guidance is intended solely to give investors an understanding of management’s expectations for the full fiscal year in light of recent industry sales trends, seasonality of the business and recognition that much of the sales generated in the dental industry occur in the fourth quarter. The guidance does not take into account, or give effect for, any events that are beyond the Company’s reasonable control.

Fiscal Year Ending December 31, 2015	Quantitative Guidance
Revenue	$15 Million – $16 Million