China Medical Technologies Reports FY2008 Fourth Fiscal Quarter and Full Year Unaudited Financi...( BEIJING Sept. 1 Asia-FirstCall/ -...),Health

BEIJING, Sept. 1 /PRNewswire-Asia-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 its unaudited financial results for the fourth fiscal quarter ("4Q FY2008") and the full fiscal year ended March 31, 2009 ("FY2008").

    4Q FY2008 Highlights
    -- Revenues from continuing operations increased by 37.3% year-over-year
       to RMB248.6 million (US$36.4 million).
    -- Income from continuing operations increased by 8.6% year-over-year to
       RMB56.3 million (US$8.2 million).
    -- Net income decreased by 46.5% year-over-year to RMB56.3 million (US$8.2
       million).
    -- Non-GAAP income from continuing operations, as defined below, increased
       by 48.5% year-over-year to RMB120.0 million (US$17.6 million).
    -- Diluted earnings from continuing operations per ADS* was RMB2.14
       (US$0.31).
    -- Non-GAAP diluted earnings from continuing operations per ADS*, as
       defined below, increased by 49.0% year-over-year to RMB4.56 (US$0.67).

    FY2008 Highlights
    -- Revenues from continuing operations increased by 51.6% year-over-year
       to RMB830.0 million (US$121.5 million) which was within our targeted
       range of RMB825.0 million to RMB838.0 million.
    -- Loss from continuing operations was RMB2.1 million (US$0.3 million)
       including a charge of RMB244.9 million (US$35.8 million) for acquired
       in-process research and development ("IPR&D").
    -- Net income decreased by 21.2% year-over-year to RMB256.2 million
       (US$37.5 million).
    -- Non-GAAP income from continuing operations, as defined below,
       increased by 80.9% year-over-year to RMB419.6 million (US$61.4 millio
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SOURCE  China Medical Technologies, Inc.
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