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BRIEF-LifeWatch posts adj EBIT of $4 mln in 2016

March 17 LifeWatch Ag

* In 2016 revenue was $113.8 million representing an increase of 6.8 pct over prior year's adjusted revenues

* FY gross profit for period was $56.7 million, or 49.8 pct of revenue resulting in an EBITDA of $2.1 million

* After adjusting for one-time costs and write-offs, FY EBIT and EBITDA would result in approximately $4 million and $14 million, or 4 pct and 12 pct of revenue, respectively

* In 2016, on a non-adjusted basis, EBIT was a negative $7.7 million

* In 2016 company's profitability was negatively impacted by two large legal settlements

* 2017 has started well and indications are positive

* Anticipates achieving double-digit revenue growth and positive operating results Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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