Lipson added, "In the second quarter, we witnessed strong demand for our imaging products, despite systemic headwinds relating to temporary regulatory uncertainty, which we believe could be alleviated in the coming months. Strict attention to optimizing our purchase behavior helped drive profitability this quarter, in tandem with our revenue performance. We continue to take a long-term view that the medical device market in China is extremely compelling."
First Half Fiscal 2011 Financial ResultsDuring the first half of fiscal 2011, revenue increased 3.8% year over year to $86.7 million, compared to $83.5 million in the prior year. Revenue from the Healthcare Services division increased 11.9% to $48.1 million from $43.0 million in the first half of fiscal 2010. Revenue from the Medical Products division was $38.6 million, down 4.5% from $40.4 million in the prior year.
Income from operations remained flat at $6.6 million for the first half of fiscal 2011 as compared to the prior year period. Total operating costs and expenses for the fiscal year 2010 increased 4.0% to $79.9 million from $76.8 million in the prior year. This reflects $1.0 million of non-cash stock compensation expense compared to $1.5 million in the prior year period. Development, startup, and post-opening expenses in the Healthcare Services division were $1.1 million in the period compared to $642,000 in the prior year.
The Company recorded a $2.5 million provision for taxes, or an effective tax rate of 38.1%, in the first half of fiscal 2011, comp
|SOURCE Chindex International, Inc.|
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