LED Medical Diagnostics Inc. Reports 2015 Third Quarter Results - Seite 2

Three Month Comparative Results

The Company reported revenue of US$1.8 million for the three months ended September 30, 2015, representing an increase of 10% over the same period in the prior year of US$1.6 million and a decrease of 46% over the prior quarter ended June 30, 2015 of US$3.3 million. The increase in revenue over the prior year period was due primarily to increased sales in the Company's imaging product offering launched in fiscal 2014.

Gross margin was 19% in the three months ended September 30, 2015 compared to 31% gross margin in the three months ended June 30, 2015 and 37% gross margin in the same period in the prior year. The Company's gross margin was lower in the third quarter of fiscal 2015 compared to the other prior periods due to a onetime cost adjustment and also due to increased revenue contribution from the Company's new imaging product offering. We anticipate that future gross margin will be more comparable to the Company's historical gross margin.

Adjusted EBITDA¹ was (US$1.3 million) for the three months ended September 30, 2015 compared to Adjusted EBITDA of (US$1.1 million) for the three months ended June 30, 2015 and to Adjusted EBITDA of (US$1.6 million) in the same period in the prior year.

The Company had a net loss of US$1.4 million for the three months ended September 30, 2015 compared to a net loss of US$1.2 million for the three months ended June 30, 2015 and to a net loss of US$2.7 million in the same period in the prior year.

Nine-Month Comparative Results

The Company reported revenue growth of 75% with US$7.5 million during the first nine months of fiscal 2015 compared to US$4.3 million for the nine months ended September 30, 2014.

Gross margin was 26% for the nine months ended September 30, 2015 compared to gross margin of 47% for the nine months ended September 30, 2014. Gross margin decreased over the prior year due to increased revenue contribution attributable to the Company's imaging product offering launched in fiscal 2014.

Adjusted EBITDA for the nine months ended September 30, 2015 was (US$3.9 million) compared to (US$4.1 million) for the nine months ended September 30, 2014.

The Company had a net loss of US$4.0 million during the nine months ended September 30, 2015 compared to a net loss of US$5.5 million during the nine months ended September 30, 2014.