BETHESDA, Md., June 12 /Xinhua-PRNewswire/ -- Chindex International, Inc. (Nasdaq: CHDX), an independent American provider of international healthcare services and Western healthcare products in the People's Republic of China, provided the following statement related to charges in the fourth quarter which will be reported in the Company's Annual Report on Form 10-K which will be filed with the Securities and Exchange Commission on Monday, June 16, 2008.
Included in the $2.7 million net loss for the quarter ended March 31, 2008 were the following adjustments: a $1.5 million charge resulting from the foreign exchange effect of a change in estimate related to the timing of the payment of intercompany payables, a $1.4 million additional tax expense related to the creation of valuation allowances on the US and China entities, a $380,000 expense related to the use of demonstration units in the medical products division, a $304,000 charge representing the interest and penalties assessed in the final settlement of a legal case in our healthcare services division, net of tax, and a $283,000 valuation adjustment related to aging merchandise inventory in the medical products division. Unless otherwise noted, there was no income tax effect on these adjustments.
About Chindex International, Inc.
Chindex is an American healthcare company that provides healthcare
services and supplies medical capital equipment, instrumentation and
products to the Chinese marketplace, including Hong Kong. It provides
healthcare services through the operations of its United Family Hospitals
and Clinics, a network of private primary care hospitals and affiliated
ambulatory clinics in China. The Company's hospital network currently
operates in the Beiji
|SOURCE Chindex International, Inc.|
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