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Concord Medical Reports Third Quarter 2013 Financial Results and Reiterates Financial Year Guidance Forecast
Date:11/12/2013

BEIJING, Nov. 12, 2013 /PRNewswire/ -- Concord Medical Services Holdings Limited ("Concord Medical" or the "Company") (NYSE: CCM), a leading specialty hospital management solution provider and operator of the largest network of radiotherapy and diagnostic imaging centers in China and the parent of Chang'an Hospital, today reported its unaudited consolidated financial results for the third quarter ended September 30, 2013[1].

Third Quarter 2013 Highlights

  • Total net revenue, which consists of net revenues generated from the network business and hospital business, was RMB234.0 million ($38.2 million) in the third quarter of 2013, a 13.5% increase from RMB206.1 million in the third quarter of 2012.
  • Gross profit in the third quarter of 2013 was RMB87.9 million ($14.4 million), a 3.8% increase from RMB84.7 million in the third quarter of 2012.
  • Net income attributable to ordinary shareholders in the third quarter of 2013 was RMB26.5 million ($4.3 million), a 29.7% decrease from RMB37.6 million in the third quarter of 2012.
  • Basic and diluted earnings per American depositary share ("ADS")[2] in the third quarter of 2013 were both RMB0.59 ($0.10).
  • Adjusted EBITDA[3] (non-GAAP) in the third quarter of 2013 was RMB101.8 million ($16.6 million), a 0.7% increase from RMB101.1 million in the third quarter of 2012.
  • Dr. Jianyu Yang, Chairman and Chief Executive Officer of Concord Medical, stated, "We are pleased with our overall operating and financial results for the third quarter of 2013. The 15% revenue growth rate in our network business exceeded the 7% growth rate in the second quarter, while the gross margin remained at a favorable level. Concord Medical remains to be the leading operator of radiotherapy and diagnostic imagin
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    SOURCE Concord Medical Services Holdings Limited
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