LED Medical Diagnostics Inc. Reports 2015 Third Quarter Results

VANCOUVER, BC--(Marketwired - November 30, 2015) - LED Medical Diagnostics Inc. (TSX VENTURE: LMD) (OTCQX: LEDIF) (FRANKFURT: LME) ("LED Medical" or the "Company") today announced its financial results for the third quarter ended September 30, 2015, reported in United States dollars and in accordance with International Financial Reporting Standards ("IFRS"). LED Medical achieved 10% annual revenue growth to US$1.8 million in the third quarter of 2015 versus the same period in 2014. The Company's year to date revenue for the nine months ended September 30, 2015 increased by 75% to US$7.5 million over the prior year revenue of US$4.3 million.

"I am very pleased with our progress year-to-date," stated Dr. David Gane, President and CEO. "Revenue growth remains strong and our momentum continues as we execute our plans to scale the business. The significant investments we have made in our sales, marketing and support platform is starting to pay dividends in the form of greater operational leverage as we grow our revenues and customer base with anticipation to generate increasingly stronger future financial performance. We had a significant outstanding customer order backlog as of September 30, 2015 and have experienced strong sales activity for the start of the fourth quarter. While revenue in our third quarter of fiscal 2015 was lower than the prior quarter due primarily to summer seasonality, the Company anticipates achieving its fiscal 2015 revenue guidance of $15 million resulting in anticipated compound annualized growth rate since fiscal 2013 of 244% over this period."

The Company also announced the appointment of Bruce Reese, to Vice President of Finance, for LED Medical. Mr. Reese has held various senior finance leadership roles with both private and public companies over his twenty-year career.

Business Highlights

Notable developments and achievements during the quarter include:

• On July 13, 2015, the Company announced acknowledgment of the Pride Institutes "Best of Class" Technology Award for the VELscope Vx. The VELscope has received this distinction for the fifth consecutive year as the market-leading device for adjunctive oral screening.
• On August 4, 2015, the Company announced entering into a distribution agreement with EnvisionTec Inc. to distribute EnvisionTec's 3D printers to dentists, dental specialists and dental laboratories.
• On September 9, 2015, the Company announced that LED has received regulatory approval for the distribution of the VELscope Vx Enhanced Oral Assessment System in China.
• On September 17, 2015, the Company announced the intent to acquire, in an arm's length transaction, 100% of a growing and profitable technology company to complement LED's existing business and provide a platform to assist LED in achieving its strategic and long-term business objectives.

Financial Highlights