China Medical Technologies Inc. (CMED) reported that its second-quarter net loss was RMB47.1 million or US$6.9 million, compared to net income of RMB 110.85 million in the year ago quarter. Loss from continuing operations per ADS for the quarter was RMB 1.78 or US$0.26, compared to profit of RMB 2.20 per ADS last year.
Non-GAAP income from continuing operations decreased by 82.7% year-over-year to RMB17.7 million or US$2.6 million. Non-GAAP earnings from continuing operations per ADS, decreased by 82.6% year-over-year to RMB 0.67 or US$0.10.
Revenues for the quarter were RMB 166.1 million or US$24.3 million, down from RMB 193.97 million in the year go quarter.
For the third-quarter, the company expects revenues to be in the range of US$24.9 million - US$26.4 million. The company estimates the target non-GAAP income from continuing operations to be not less than US$5.6 million.
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