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China Medical Technologies Reports Third Fiscal Quarter Financial Results
Date:2/18/2011

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Outlook for FY2010

  • Target revenues are expected to be approximately RMB846.0 million (US$128.2 million), representing a year-over-year increase of 17.0%.
  • Target non-GAAP net income is expected to be approximately RMB269.1 million (US$40.8 million), representing a year-over-year increase of 43.7%.
  • Target non-GAAP diluted earnings per ADS* is expected to be approximately RMB10.24 (US$1.55), representing a year-over-year increase of 43.6%.

  • The above targets are based on the Company's current views on the operating and market conditions, which are subject to change.

    *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 with the results of our 3Q FY2010," commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company. "The business of HPV-DNA chips started to contribute increasing revenue to our molecular diagnostic division. We expect our molecular diagnostic revenues to keep driving the growth of the Company."

    3Q FY2010 Unaudited Financial ResultsThe Company reported revenues of RMB223.9 million (US$33.9 million) for 3Q FY2010, representing a 30.0% increase from the corresponding period of FY2009.

    The Company's revenues are currently generated from two segments, molecular diagnostic systems and immunodiagnostic systems. The molecular diagnostic system segment includes FISH products and SPR products while the immunodiagnostic system segment consists of ECLIA products. The customers of the molecular diagnostic system segment, that is, Tier 1 hospitals in China, are being served by the Company's direct sales personnel.

    Molecular diagnostic system sales for 3Q FY2010 were RMB135.1 million (US$20.5 million), representing a 40.5% increase from the corresponding period of FY2009. The year-over-year increase was primarily du
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    SOURCE China Medical Technologies, Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

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