VANCOUVER, BC--(Marketwired - January 14, 2016) - LED Medical Diagnostics Inc. (TSX VENTURE: LMD) (LEDIF) (LME.F) ("LED" or the "Company") announced today preliminary unaudited revenue for its fiscal year ended December 31, 2015 of approximately US$12.5 million which represents approximately 40% revenue growth over the prior fiscal year. In addition, the Company had US$2.5 million in customer backlogged orders as of December 31, 2015, due to strong sales volume experienced in late fiscal 2015. These orders are expected to be delivered and installed in early fiscal 2016. Final recognized revenue is subject to completion of the Company's annual audit and will be released with the Company's audited financial statements and related annual report in due course.
"Demand for our products and services gained strength in Q4 2015 resulting in the Company's largest sales quarter to date," commented LED CEO Dr. David Gane. Gane continued, "We generated significant orders in Q4 2015 totaling approximately US$7.5 million, including early contributions from our newly launched CAD CAM product line, of which we will recognize around US$5.0 million with the balance of US$2.5 million backlogged for delivery and installation post year end. This resulted in our not meeting previously stated revenue guidance by approximately this order backlog which will carry over into fiscal 2016 and contribute to our anticipated revenue growth."
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Vancouver, 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-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 884.952.7327 or visit www.leddental.com/investor-relations.
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.
"Demand for our products and services gained strength in Q4 2015 resulting in the Company's largest sales quarter to date," commented LED CEO Dr. David Gane. Gane continued, "We generated significant orders in Q4 2015 totaling approximately US$7.5 million, including early contributions from our newly launched CAD CAM product line, of which we will recognize around US$5.0 million with the balance of US$2.5 million backlogged for delivery and installation post year end. This resulted in our not meeting previously stated revenue guidance by approximately this order backlog which will carry over into fiscal 2016 and contribute to our anticipated revenue growth."
About LED Medical Diagnostics Inc.
Founded in 2003 and headquartered in Vancouver, 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-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 884.952.7327 or visit www.leddental.com/investor-relations.
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.
