Lombard Medical, Inc. announced consolidated unaudited financial results for the first quarter ended March 31, 2016. For the quarter, the company reported revenue was $2,922,000 against $3,409,000 a year ago. Operating loss was $7,320,000 against $9,757,000 a year ago. Loss before taxation was $7,811,000 against $9,732,000 a year ago. Loss for the period was $7,606,000 against $9,543,000 a year ago. Basic and diluted loss per ordinary share was $0.38 against $0.59 a year ago. Net cash outflow from operating activities was $8,554,000 against $6,998,000 for the same period a year ago. Purchase of property, plant and equipment was $223,000 against $423,000 for the same period a year ago. The year-over-year reduction in revenue is attributable to the redeployment of commercial resources from the US to Europe to support the launch of Altura coupled with delayed stocking orders from the Company's distribution partner in Japan as it prepares for the IntelliFlex approval.

The Company expects to achieve year-over-year revenue growth in 2016 of approximately 20%.