For the three months ended March 31, 2008, the Company's net income amounted to $773,670, a decrease of approximately $1.40 million compared to roughly $2.18 million for the prior year. This decrease was attributable to no revenues from product sales being recognized over the period.
For the three months ended March 31, 2008, the Company's comprehensive income, which reflects the change in currency translations on the net income, amounted to approximately $1.37 million, a decrease by $839,038 compared to approximately $2.21 million for the prior year.
As of March 31, 2008, the Company had total assets of $19.71 million, of which cash amounted to $625,027, accounts receivable amounted to $8.67 million, prepayment and other receivables amounted to $4.54 million, inventories amounted to $1.24 million, and amounts due from related parties totaled $775,528. Working capital was approximately $13.21 million. The quick ratio was approximately 5.52:1.
About Huiheng Medical, Inc.
Huiheng is a leader in the development, sales and support of advanced radiation oncology equipment in China. The Company maintains strong research and development capabilities and has developed partnerships with a number of China's leading universities, including Beijing University and China Science & Technology University.
Cautionary Statement Regarding Forward Looking Information
The foregoing compilation relates to Huiheng Medical, Inc. (HHGM) and
contains forward-looking statements, which are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995
which involve risks and uncertainties that could cause actual results to
differ materially from the forward-looking statements. Words like
|SOURCE Huiheng Medical, Inc.|
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