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LifeWatch AG

EANS-Adhoc: LifeWatch to announce positive results for first quarter 2012 (with document)

2 Dokumente

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
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3-month report/LifeWatch AG

10.05.2012

+ EBIT of USD 1.62 million and EBITDA of USD 2.85 million;

+ More than 70 million new covered lives and 41 additional contracts;

+ Home sleep test revenues rose by 100% in the first quarter 2012;

International analyst and media conference call and audio web cast on LifeWatch
Q1 2012 financial results:

+ Thursday, May 10, 2012 at 10.00 a.m. CEST;

+ Dial-in number: + 41 (0)91 610 56 00 (Europe), + 44 (0)203 059 58 62 (UK), +1
(1)866 291 41 66 (USA - Toll-free);

+ Audio web cast http://services.choruscall.eu/links/lifewatch120510.html; 


Neuhausen am Rheinfall/Switzerland - LifeWatch AG (SIX Swiss Exchange: LIFE),
the leading provider of wireless telemedicine, today announces the results for
the first quarter 2012. The Company continues to improve operating profit on
EBIT and EBITDA level. All service lines of LifeWatch were able to attract new
major contracts.

First Quarter 2012 Financial Highlights:


    - Revenues of USD 21.13 million, compared with USD 21.08 million in Q1 2011.

    - Gross margin was 58.0% compared with 58.5% in Q1 2011.



    - Total departmental expenses were 50.4% of revenues compared with 58.1% in
Q1 2011:


      - R&D expenses rose by approximately USD 0.30 million.


      - S&M expenses decreased by USD 1.69 million compared with Q1 2011



      - G&A expenses decreased by USD 0.32 million from Q1 2011.


    - EBIT of USD 1.62 million compared with EBIT of USD 0.08 million in Q1
      2011.


    - EBITDA of USD 2.85 million compared with EBITDA of USD 1.40 million in Q1
2011.


    - Net income of USD 0.60 million compared with a net loss of USD 0.95

      million in Q1 2011.



Monitoring Services Updates: 

In March 2012 LifeWatch announced a joint development with U.S. medical
technology developer Ansar on a break-through Parasympathetic & Sympathetic
technology for diagnosing cardiogenic, neurogenic and vasovagal syncope. For
the first time in the wireless cardiac monitoring industry, a treating physician
will be able to measure individual parasympathetic and sympathetic
responses of their patient. This information will be significant in providing
additional clinical data for patients with Atrial Fibrillation, Syncope,
Congestive Heart Failure, Cardiac Autonomic Neuropathy and Hypertension. These
conditions together affect an estimated 99 million Americans. Millions of
patients currently prescribed Beta blockers will also benefit from this test.
The Company has made considerable progress with the deployment of the Ansar
technology on the ACT wireless cardiac monitoring platform.

The Company launched the Elite outpatient cardiac monitoring service and
technology during Q1 2012. The Elite service is a software-defined wireless
cardiac monitoring platform designed with a programmable feature that allows a
switch from the advanced ACT III ambulatory ECG telemetry system to a
sophisticated Auto-Detect/Auto-Send 3-channel ECG cardiac monitoring system.
This state-of-the-art technology enables a streamlined enrolment process, easier
onsite inventory control and further efficiencies provided by a multi-functional
solution which can replace the confusing array of monitoring technologies and
services. The Elite service also benefits patients who do not have a dedicated
landline and would not be able to transmit their ECGs using traditional cardiac
monitors. The Elite service is arguably the most sophisticated outpatient
cardiac monitoring service and technology in the market today.

Managed Care Updates:

During the first quarter 2012 LifeWatch achieved 20 new contracts for ACT
Services and 21 new contracts for NiteWatch services. Collectively, these new
agreements represent over 71 million covered lives. Of note, UnitedHealthCare
and all of its affiliates completed a major new follow-on national agreement as
an In-Network Preferred Provider providing coverage of our standard cardiac
event monitoring and home sleep testing services to about 70 million members.
Prime/NAMM of California contracted for cardiac monitoring services to their
205,000 members. Dimension Health PPO of South Florida contracted for Home Sleep
Test services covering approximately 400,000 lives, and Fidelis Care of New York
contracted for all LifeWatch service lines for more than 725,000 covered lives.
LifeWatch continues to prove to providers the value of our cost effective health
monitoring services. These new contracts corroborate our momentum in obtaining
important coverage and payment contracts.

Revenues:

Total revenues reached USD 21.13 million, an increase over Q1 2011. Revenues
were slightly impacted by the discontinuation of Pacemaker services in Q2 2011,
which are only offered to a few select accounts in Q1 2012. Our main sales and
marketing efforts continue to focus primarily on the U.S. monitoring services
market.

Gross Profit, EBITDA and EBIT:

Gross profit was USD 12.26 million, reflecting a margin of 58.0%, compared with
gross profit of USD 12.33 million with a margin of 58.5% in Q1 2011. EBITDA was
USD 2.85 million in Q1 2012 compared with EBITDA of USD 1.40 million in Q1 2011.
EBIT reached USD 1.62 million compared with EBIT of USD 0.08 million in Q1 2011.

Net Income:

LifeWatch reported a net income of USD 0.60 million compared to a net loss of
USD 0.95 million in Q1 2011. Earnings per share were USD 0.05 (fully diluted),
compared to a loss per share of USD 0.08 (fully diluted) in the first quarter of
2011.

Outlook 2012:

LifeWatch is committed to increasing revenues and improving profitability in
2012. The Company is investing in new service and technology offerings and
expanding into new geographies and disease states.


About LifeWatch AG:

LifeWatch AG, headquartered in Neuhausen am Rheinfall and listed on SIX  wiss
Exchange (LIFE), Switzerland, is the leading healthcare technology and solution
company, specializing in advanced telehealth systems and wireless remote patient
monitoring services. LifeWatch services cater to individuals, ranging from
high-risk and chronically ill patients, to consumers of health and wellness
products. LifeWatch has subsidiaries in the United States, the Netherlands,
Japan, the United Kingdom, Switzerland and Israel. LifeWatch AG is the parent
company of LifeWatch Services Inc., a leading US-based cardiac monitoring
service provider, and manufacturer of telecardiology products. LifeWatch is also
introducing a new program for Home Sleep Testing of Obstructive Sleep Apnea
(OSA) patients under the brand name NiteWatch. For additional information,
please visit www.lifewatch.com.

Sign-up for customized E-mail alerts and documentation requests is available at
http://production.investis.com/lifewatch/alert-service/

This press release includes forward-looking statements. All statements other
than statements of historical facts contained in this press release, including
statements regarding future results of operations and financial position,
business strategy and plans and objectives for future operations, are
forward-looking statements. The words "believe," "may," "will," "estimate,"
"continue,""anticipate," "intend," "expect" and similar expressions are intended
to identify forward-looking statements. LifeWatch AG has based these
forward-looking statements largely on current expectations and projections about
future events and financial trends that it believes may affect the financial
condition, results of operations, business strategy, short term and long term
business operations and objectives, and financial needs. These forward-looking
statements are subject to a number of risks, uncertainties and assumptions. In
light of these risks, uncertainties and assumptions, the forward-looking events
and circumstances described may not occur and actual results could differ
materially and adversely from those anticipated or implied in the
forward-looking statements. All forward-looking statements are based only on
data available to LifeWatch AG at the time of the issue of this press release.
LifeWatch AG does not undertake any obligation to update any forward-looking
statements contained in this press release as a result of new information,
future events or otherwise.

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND
SHOULD NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A
GENERAL CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT
CONSTITUTE AN OFFER OF SECURITIES OF LIFEWATCH AG OR ANY OF ITS SUBSIDIARIES
FOR SALE IN THE UNITED STATES OR AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY
SECURITIES OF LIFEWATCH AG OR ITS SUBSIDIARIES IN THE UNITED STATES. IN
ADDITION, THE SECURITIES OF LIFEWATCH AG AND ITS SUBSIDIARIES HAVE NOT BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD
OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION
UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
UNITED STATES SECURITIES LAWS.  ANY PUBLIC OFFERING OF SECURITIES TO BE MADE IN
THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED
FROM LIFEWATCH AG OR ITS SUBSIDIARIES, AS APPLICABLE, AND WILL CONTAIN DETAILED
INFORMATION ABOUT THE ISSUER AND ITS MANAGEMENT AS WELL AS FINANCIAL STATEMENTS
OF THE ISSUER.

Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/xB7woU7B
http://resources.euroadhoc.com/us/3qJFtaGQ

Further inquiry note:
Sensus Investor and Public Relations, Zürich:
Tel +41 43 366 55 11 | Fax +41 43 366 55 12 | Email  lifewatch@sensus.ch

end of announcement                               euro adhoc 
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Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/xB7woU7B
http://resources.euroadhoc.com/us/3qJFtaGQ


issuer:      LifeWatch AG
             Rundbuckstrasse 6
             CH-8212 Neuhausen am Rheinfall
phone:       +41 52 632 00 50
FAX:         +41 52 632 00 51
mail:         users@lifewatch.com
WWW:      www.lifewatch.com
sector:      Healthcare Providers
ISIN:        CH0012815459
indexes:     SPI, SPIEX
stockmarkets: free trade: Berlin, Open Market / XETRA: Frankfurt, Main Standard:
             SIX Swiss Exchange 
language:   English

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