BEIJING, Nov. 17, 2010 /PRNewswire-Asia-FirstCall/ — China
Medical Technologies, Inc. (the “Company”) (Nasdaq:
CMED), a leading China-based advanced in-vitro diagnostic
(“IVD”) company, today announced its unaudited financial results
for the second fiscal quarter ended September 30, 2010 (“2Q
FY2010”).
2Q FY2010 Highlights
Revenues increased by 21.5% year-over-year to RMB201.8 million
(US$30.2 million). Non-GAAP net income, as defined below, increased
270.1% year-over-year to RMB65.4 million (US$9.8 million). Non-GAAP
diluted earnings per ADS*, as defined below, increased 273.1%
year-over-year to RMB2.50 (US$0.37). Adjusted EBITDA, as defined
below, increased 62.6% year-over-year to RMB116.3 million (US$17.4
million). Net cash generated from operations was RMB67.3 million
(US$10.1 million).
Outlook for 3Q FY2010
Target revenues are expected to be not less than RMB220.0 million
(US$32.9 million), representing a year-over-year increase of not
less than 27.7%. Target non-GAAP net income is expected to be not
less than RMB74.0 million (US$11.1 million), representing a
year-over-year increase of not less than 62.2%. Target non-GAAP
diluted earnings per ADS* is expected to be not less than RMB2.82
(US$0.42), representing a year-over-year increase of not less than
62.1%.
Outlook for FY2010
Target revenues are expected to be not less than RMB846.0 million
(US$126.4 million), representing a year-over-year increase of not
less than 17.0%. The year-over-year increase of annual revenues for
FY2010 is lower than that of 3Q FY2010 because of the 10.9%
year-over-year decrease in quarterly revenues of 1Q FY2010. Target
non-GAAP net income is expected to be not less than RMB280.0
million (US$41.9 million), representing a
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