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Chindex International, Inc. Reports Fourth Quarter and Full Year Fiscal 2009 Financial Results
Date:6/11/2009

our KfW and U.S. Export-Import Bank contracts, and enhanced our revenue performance in hospital services, although patient volumes were slightly less than anticipated. Healthcare reform continues to be a key focus of ours and we continue to believe that the reform plan which includes significant investment from the PRC and emphasizes private sector investment for premium services. This should drive further market opportunity for UFH. In addition, we believe the recently announced stimulus package will augment the medical product market size over time. We continue to believe that Chindex is well positioned to benefit from these efforts over the long term."

The Company recorded a $615,000 provision for taxes, or an effective tax rate of 15.3%, in the three months ended March 31, 2009 as compared to a provision for taxes of $714,000, or an effective tax rate of 36.2%, for the three months ended March 31, 2008. The prior period tax expense includes the negative effect of losses in entities for which Chindex cannot recognize a benefit in accordance with SFAS 109, "Accounting for Income Taxes."

Net income for the quarter ended March 31, 2009 was $3.4 million, or $0.22 per diluted share. This compares to net loss of $2.7 million, or $(0.20) per diluted share, for the quarter ended March 31, 2008.

Full Year 2009 Financial Results

During the fiscal year 2009, revenue increased 32% to $171.4 million from $130.1 million for the prior year. Revenue from the Medical Products division increased 43% to $92.1 million from $64.2 million in the prior year, and revenue from the Healthcare Services division increased 21% to $79.4 million from $65.8 million in fiscal year 2008.

During the year, the Company recorded income from operations of $8.2 million, a decrease of 1.2% from $8.3 million in the 2008 fiscal year. Total operating costs and expenses for fiscal year 2009 increased 34% to $163.2
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SOURCE Chindex International, Inc.
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