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Concord Medical Reports Third Quarter 2011 Financial Results
Date:11/14/2011

BEIJING, Nov. 14, 2011 /PRNewswire-Asia-FirstCall/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), the operator of the largest network of radiotherapy and diagnostic imaging centers in China, today reported its unaudited consolidated financial results for the third quarter ended September 30, 2011.

Third Quarter 2011 Highlights

  • Total net revenues were RMB124.7 million ($19.6 million)(A) in the third quarter 2011, up 23.4% from the third quarter 2010.
  • Gross profit was RMB82.9 million ($13.0 million) in the third quarter 2011, up 24.0% from the third quarter 2010. The gross profit margin in the third quarter was 66.5% compared with 66.2% in the third quarter 2010.
  • Net income was RMB38.3 million ($6.0 million) in the third quarter 2011, up 14.7% from the third quarter 2010. The net profit margin in the third quarter was 30.7% compared with 33.1% in the third quarter 2010.
  • Basic and diluted earnings per American depositary share ("ADS") for the third quarter 2011 were RMB0.81 ($0.13), up 17.7% from the third quarter 2010. Each ADS represents 3 ordinary shares.
  • Non-GAAP net income(B) was RMB40.6 million ($6.4 million) in the third quarter 2011, up 12.9% from the third quarter 2010. Non-GAAP basic and diluted earnings per ADS were RMB0.86 ($0.13) in the third quarter 2011, up 15.8% from the third quarter 2010. Adjusted EBITDA (non-GAAP)(C) was RMB93.0 million ($14.6 million) in the third quarter 2011, up 18.2% from the third quarter 2010.
  • In the three months ended September 30, 2011, the Company added 3 radiotherapy and diagnostic imaging centers in the third quarter, bringing the total number of centers in operation to 128 in 48 cities in China as of September 30, 2011. As of September 30, 2011, the Company had entered into agreements to establish 36 additional centers.

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    SOURCE Concord Medical Services Holdings Limited
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