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LifeWatch Is Back to Profitability

Switzerland March 1, 2011

  • USD 22 m
  • USD 1.9 m USD 2.5 m
  • USD 3.3 m
  • USD 0.8 m

International conference call and audio web cast about LifeWatch AG r e sults in 2010

LifeWatch AG (SIX Swiss Exchange: LIFE), the leading provider of wireless telemedicine, today announces the r e sults for the fourth quarter 2010 and full fiscal year 2010 and provides an outlook for 2011. Lif e Watch marked the end of a challenging year with a return to growth and profitability in the fourth quarter of 2010. Rev e nues and ACT enrollments increased in Q4 compared to the prior quarter and both EBIT and EBITDA returned to positive levels. The Company continues to make i m provements in all areas of its business.

You will find a PDF version of this press release at the end of this message.

Fourth Quarter 2010 Financial Highlights:

  • USD 21.9 million
  • USD 1.9 million USD 2.5 million
  • USD 2.6 million USD 3.2 million
  • USD 3.3 million
  • USD 1.5 million
  • USD 37.9 million December 31, 2010
  • ACT enrollments of 18,598, a 2.3% increase from the prior quarter and 7.4% decrease year-on-year
  • NiteWatch Home Sleep Test enrollments of 423, a 22.5% decrease from the prior quarter

Full Fiscal Year 2010 Financial Highlights:

  • USD 87.1 million USD 123.0 million
  • USD 4.9 million USD 0.4 million USD 26.6 million USD 32.9 million
  • USD 4.3 million USD 0.9 million
  • USD 0.8 million USD 29.2 million
  • USD 8.4 million
  • USD 37.9 million December 31, 2010
  • ACT enrollments of 77,388, a 4.1% increase from FFY 2009
  • NiteWatch Home Sleep Test enrollments of 1,887

Service Enrollments

January 1, 2011

Enrollments for our ACT service were down 7.4% to 18,598 during Q4 2010 compared with 20,081 enrollments in Q4 2009. The decline in enrollments was primarily due to the impact of Reimbursement Denials. ACT enrollments in Q4 2010 grew 2.3% from the prior quarter, the first sequential increase in three quarters. NiteWatch enrollments declined 22.5% sequentially to 423 enrollments in Q4 2010 from 546 enrollments in the prior quarter. Enrollments have been affected by changes to the NiteWatch organization during the quarter. Total enrollments for ACT, NiteWatch, Event and Holter services grew at a 5.6% rate to 59,662 enrollments in Q4 2010 from 56,509 enrollments in Q4 2009. ACT enrollments for FFY 2010 were up 4.1% to 77,388 compared to 74,369 in FFY 2009. Total enrollments for ACT, NiteWatch, Event and Holter services grew at a 3.0% rate to 239,253 enrollments in FFY 2010 from 232,358 enrollments in FFY 2009.

New software version

LifeWatch recently released a new version of its ACT software. The new release includes several improvements to the previous version including:

  • Enhanced and more descriptive ACT cell phone messaging
  • Simplified customer activation process
  • Support of current generation mobile phones with battery life improvement of 25 – 30%
  • New format for daily summary reports and end of session reports

New iPhone application

The Company also recently released an iPhone application, a complementary product to the previously released iPad application. Similar to the iPad application in scope and function, the iPhone application provides yet another value-added feature to physicians and cardiologists.  

NiteWatch

Rafi Heumann Amy Halstead

Sales Force

January 2011

USA

February 2011 San Francisco, CA.

Revenues

USD 21.9 million USD 27.0 million USD 87.1 million USD 123.0 million

Gross Profit

USD 13.3 million USD 15.7 million USD 43.7 million USD 75.2 million

Net Income

USD 3.3 million USD 5.9 million USD 0.25 USD 0.45 USD 0.8 million USD 29.2 million USD 0.06 USD 2.22

Outlook 2011

USD 100  

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About LifeWatch AG:

Switzerland the United States the Netherlands Japan United Kingdom Switzerland Israel www.lifewatch.com www.nitewatchservices.com

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.

http://www.irlifewatch.com/

THE UNITED STATES THE UNITED STATES THE UNITED STATES

SOURCE LifeWatch AG

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