BEIJING, Oct. 27 /Xinhua-PRNewswire-FirstCall/ -- China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a leading China-based medical device company that develops, manufactures and markets advanced in- vitro diagnostic products today announced that it will report selected unaudited financial numbers including consolidated revenues, net income and earnings per ADS for the second fiscal quarter ended September 30, 2008 ("2Q FY2008") on November 18, 2008 and full unaudited financial results for 2Q FY2008 together with the preliminary purchase price allocation of the acquisition of HPV-DNA Chip and SPR-based Analysis System (the "Acquisition") on December 18, 2008. The Company's 2008 fiscal year ends on March 31, 2009 ("FY2008").
The Company is working on the valuation of the tangible and intangible assets to be acquired in the Acquisition as required by United States Generally Accepted Accounting Principles and expects to complete the preliminary purchase price allocation in mid-December. The Company has engaged independent valuers to perform a valuation on the assets for the purpose of purchase price allocation. The Company will also provide an estimated annual amortization of the intangible assets together with the preliminary purchase price allocation on December 18, 2008.
The Company has received a number of investor inquiries about its
indebtedness and existence of any investment in financial derivatives. As
of today, the Company did not have any bank borrowings. The Company's
outstanding debts are long term and consist of its US$150 million 3.5%
convertible notes due November 15, 2011 and US$276 million 4% convertible
notes due August 15, 2013. The convertible note holders do not have right
to require early red
|SOURCE China Medical Technologies, Inc.|
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