BETHESDA, Md., June 11 /PRNewswire-Asia/ -- Chindex International, Inc. (Nasdaq: CHDX), a leading independent American provider of Western healthcare products and services in the People's Republic of China, today announced results for its fourth quarter and fiscal year, ended March 31, 2009.
Fourth Quarter 2009 Financial Results
Revenue for the fourth quarter, which ended March 31, 2009, increased 72% to $60.0 million from $34.6 million in the fourth quarter of fiscal year 2008. Revenue from the Medical Products division increased 130% to $39.5 million from $17.2 million in the prior year period, and revenue from the Healthcare Services division increased 16% to $20.2 million from $17.5 million in the fourth quarter of fiscal year 2008. Revenue performance reflects the recognition of revenue for certain government-backed loan programs, as well as increased medical products sales such as daVinci units, and growth in inpatient and outpatient revenues in the hospital division.
During the quarter, the Company recorded income from operations of $3.9 million, an increase of 806% from $426,000 in the same quarter of last year. Total operating costs and expenses increased 63% during the quarter to $55.8 million from $34.2 million in the prior year period.
Increased operating costs include $536,000 of development and startup expenses for new clinics, as well as non-cash stock compensation expense of $848,000, multi-year physician contracts renewed at higher rates in calendar 2008, additional medical personnel in Beijing and Shanghai hospitals, increased direct patient care costs and increased medical products selling activities.
Roberta Lipson, President and CEO of Chindex, commented, "During the
fourth quarter and full year, we achieved our goals to make substantial
|SOURCE Chindex International, Inc.|
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