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China Medical Technologies Reports Second Fiscal Quarter Financial Results
Date:11/19/2009

BEIJING, Nov. 19 /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 second fiscal quarter ended September 30, 2009 ("2Q FY2009"). The Company's 2009 fiscal year ends on March 31, 2010 ("FY2009").

    2Q FY2009 Highlights

    -- Revenues decreased by 14.4% year-over-year to RMB166.1 million (US$24.3
       million).
    -- Loss from continuing operations was RMB47.1 million (US$6.9 million).
    -- Net loss was RMB47.1 million (US$6.9 million).
    -- Non-GAAP income from continuing operations, as defined below, decreased
       by 82.7% year-over-year to RMB17.7 million (US$2.6 million).
    -- Diluted loss from continuing operations per ADS* was RMB1.78 (US$0.26).
    -- Non-GAAP diluted earnings from continuing operations per ADS*, as
       defined below, decreased by 82.6% year-over-year to RMB0.67 (US$0.10).
    -- Net cash generated from operating activities was RMB45.5 million
       (US$6.7 million).

    3Q FY2009 Targets

    -- Target revenues are in the range of RMB170.0 million (US$24.9 million)
       and RMB180.0 million (US$26.4 million).
    -- Target non-GAAP income from continuing operations is not less than
       RMB38.0 million (US$5.6 million).

    *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.

"Despite recent challenges, we have seen several positive signs," commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company. "In the past quarter, we received SFDA approvals for both our FISH probes in hematolog
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SOURCE China Medical Technologies, Inc.
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