Concord Medical Services Holdings Limited (CCM: Quote) reported that its first-quarter net income attributable to ordinary shareholders was RMB 24.18 million or $3.84 million, up from RMB 22.36 million in the first quarter of 2011. Earnings per American depositary share or ADS for the first quarter of 2012 were RMB 0.52 or $0.08, compared to RMB 0.48 last year.
Non-GAAP net income in the first quarter of 2012 was RMB27.3 million or $4.3 million, a 7.9% increase from the first quarter of 2011. Non-GAAP earnings per ADS for the first quarter of 2012 were RMB0.57 or $0.09.
Total net revenues were RMB106.7 million or $16.9 million for the first quarter of 2012, up 22.1% from the first quarter of 2011, primarily due to the rise in patient cases from existing centers and the increase in number of centers in operation compared with first quarter of 2011.
The company still expects 2012 total net revenues to be in the range of RMB590 million to RMB630 million, or 30%-40% year-over-year growth.
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by RTT Staff Writer
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