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 redemption of any of the convertible notes before their respective maturity dates.
The Company maintains its cash with reputable banks in the form of bank balances and short term bank deposits. The Company did not invest in any kind of financial derivatives.
The Company's CEO, Mr. Xiaodong Wu, CFO, Mr. Sam Tsang and CTO, Dr.
Zhong Chen will host an earnings conference call at 8:00 a.m., Eastern Time
on December 18, 2008 (9:00 p.m. Beijing/Hong Kong time).
The dial-in details for the live conference call are as follows:
-- U.S. Toll Free Number 1-800-510-0178
-- International Dial-in Number 1-617-614-3450
Passcode: CMEDCALL A live webcast of the conference call will be available on http://ir.chinameditech.com .
A replay of this webcast will be available for one month on this website.
A telephone replay of the call will be available after the conclusion
of the conference call through 10:00 a.m. Eastern Time on December 19,
2008. The dial-in details for the replay are as follows:
-- U.S. Toll Free Number 1-888-286-8010
-- International Dial-in Number 1-617-801-6888
About China Medical Technologies, Inc.
China Medical Technologies is a leading China-based medical device
company that develops, manufactures and markets advanced in-vitro
diagnostic products using Enhanced Chemiluminescence (ECLIA) technology and
Fluorescent in situ Hybridization (FISH) technology, to detect and monitor
various diseases and disorders, and system using High Intensity Focused
Ultrasound (HIFU) for the treatment of solid cancers and benign tumors. For
more information, please visit http://www.chinameditech.com .
For further information, please contact:
|SOURCE China Medical Technologies, Inc.|
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