Vancouver, British Columbia - July 8, 2015 -
LED Medical Diagnostics Inc. ("LED Medical" or the "Company") is pleased to announce today that preliminary revenue numbers for the quarter ending June 30, 2015 are expected to be in the range of $3.0- $3.3 million, as measured in US$, representing an approximate 100% increase over the prior year period of $1.6 million. The Company had expected that its year to date revenue for the six month period ended June 30, 2015 to be in the range of $5.4 million to $5.6 million, representing a significant increase of 115% over the prior year period of $2.6 million. These revenue results are preliminary only and subject to finalization by the Company.
"Our experienced team is executing according to plan," stated Dr. David Gane, Chief Executive Officer of LED Medical. "We continue to experience growth as a result of our growing portfolio of best of breed imaging solutions and services combined with industry leading customer service. More than ever, before digital imaging technologies are foundational and mission critical to the modern dental practice and LED is carving out a niche as a premium provider in this space. The future prospects of the Company continue to build along with our growing customer base. We anticipate leveraging our sales momentum into the balance of the year and do reaffirm our previously provided revenue guidance of $15.0 million to $16.0 million for our fiscal 2015 year ended December 31, 2015."
This guidance is intended solely to give investors an understanding of management's expectations for the full fiscal year 2015. The guidance does not take into account, or give effect for, any events that are beyond the Company's reasonable control.
A quarterly conference call to review Q2 results will be held when results are announced.
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Burnaby, British Columbia, Canada, LED Medical Diagnostics Inc., through its wholly-owned subsidiaries LED Dental Inc. and LED Dental Ltd, provide dentists and oral health specialists with advanced diagnostic imaging products and software, in addition to the award-winning VELscope® Vx tissue fluorescence visualization technology. Backed by an experienced leadership team and dedicated to a higher level of service and support, LED Dental is committed to providing dental practitioners with the best technology available by identifying and adding leading products to its growing portfolio.
The Company is currently listed on the TSX Venture Exchange (TSX-V) under the symbol LMD, the OTCQX under the symbol "LEDIF", as well as the Frankfurt Stock Exchange under the symbol "LME". For more information, call 844.952.7327 or visit www.leddental.com/investor-relations
LED Medical Diagnostics
David Gane, CEO
Phone: 604-434-4614 x227
Forward Looking Statement
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking statements or information include statements regarding, but not limited to the Company's future growth strategy, its distribution strategy and product offerings, potential expansion of the Company's technology to other medical applications or markets, or the potential introduction of new technologies by the Company. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Corporation's actual future results or performance may be materially different. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to competition risks, distributor risks, product development risks such as regulatory, design, intellectual property and other factors described in the Corporation's reports filed on SEDAR including its Annual Information Form and financial report for the year ended December 31, 2013. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.