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China Medical Technologies Reports Third Quarter Financial Results
Date:2/28/2008

FISH Becomes a Growth Driver

BEIJING, Feb. 28 /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 and high intensity focused ultrasound tumor therapy system, today announced its unaudited financial results for the third quarter ended December 31, 2007 ("3Q FY2007"). The Company's 2007 fiscal year ends on March 31, 2008.

3Q FY2007 Highlights

-- Net revenues increased by 64.2% year-over-year to RMB265.1 million

(US$36.3 million).

-- Non-GAAP adjusted net income, as defined below, increased by 34.9%

year-over-year to RMB124.8 million (US$17.1 million).

-- Non-GAAP adjusted diluted earnings per ADS*, as defined below,

increased by 29.9% year-over-year to RMB4.39 (US$0.60).

*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.

"We are pleased to report another strong quarter," commented Mr. Xiaodong Wu, Chairman and CEO of the Company. "Our FISH equipment sold to leading Chinese hospitals has generated recurring reagent revenue rapidly and we expect the FISH business to be another strong growth driver of the Company in addition to our ECLIA business. We completed the BBE acquisition in January 2008 and expect the new acquisition to be accretive starting from 4Q FY2007."

3Q FY2007 Financial Results

The Company reported net revenues of RMB265.1 million (US$36.3 million) for 3Q FY2007, representing a 64.2% increase from the correspon
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SOURCE China Medical Technologies, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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