Polar Heart Rate Module - RMCM01

Hi,

Am looking at using the above receiver with the Polar T34 wireless transmitter.

This is the unit's data sheet.

Quick question:

Will i be able to obtain the actual BPM values of the heart rate from this receiver or does this just simply output high and lows every time a heart beats? Was comparing this with the sparkfun Polar Heart Rate Monitor Interface (https://www.sparkfun.com/products/8661).

Thanks in advance!