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China Medical Technologies Reports FY2009 First Fiscal Quarter Unaudited Financial Results
Date:9/1/2009

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 first fiscal quarter ended June 30, 2009 ("1Q FY2009"). The Company's 2009 fiscal year ends on March 31, 2010 ("FY2009").

    1Q FY2009 Highlights

    -- Revenues from continuing operations increased by 28.9% year-over-year
       to RMB209.0 million (US$30.6 million).
    -- Income from continuing operations decreased by 92.8% year-over-year to
       RMB2.9 million (US$0.4 million).
    -- Net income decreased by 96.0% year-over-year to RMB2.9 million (US$0.4
       million).
    -- Non-GAAP income from continuing operations, as defined below, decreased
       by 7.7% year-over-year to RMB72.5 million (US$10.6 million).
    -- Diluted earnings from continuing operations per ADS* was RMB0.11
       (US$0.02).
    -- Non-GAAP diluted earnings from continuing operations per ADS*, as
       defined below, decreased by 7.7% year-over-year to RMB2.74 (US$0.40).

    *One American Depositary Share ("ADS") = 10 ordinary shares

See "Non-GAAP Measure Disclosures" below, where the impact of certain items on reported results is discussed.

"While we remain confident in the fundamentals of the Company and its prospects in the longer term, we were recently affected on several fronts," commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company. "Our ECLIA customers, mainly distributors, have reduced their inventory level during the past months in anticipation of a price reduction on our ECLIA reagent kits due to increasing market competition. We have reduced the s
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SOURCE China Medical Technologies, Inc.
Copyright©2009 PR Newswire.
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