China Medical Technologies, Inc. (CMED), a medical device company, announced Friday preliminary results for the fourth quarter and said its non-GAAP adjusted earnings from continuing operation per ADS increased by nearly 44% and revenues grew by about 37% year-over-year.
The Beijing, China-based company stated that its non-GAAP adjusted income from continuing operation increased by about 43% year-over-year to approximately RMB 116 million or US$17 million and non-GAAP adjusted earnings from continuing operation per ADS increased by nearly 44% to about RMB 4.4 or US$0.6.
Revenues from continuing operations increased by about 37% over last year to nearly RMB 248 million or US$36 million.
For fiscal year 2009, China Medical said its non-GAAP adjusted income from continuing operation increased by nearly 79% to about RMB 416 million or US$61 million and non-GAAP adjusted earnings from continuing operation per ADS grew by about 80% over the prior year to approximately RMB 15.8 or US$2.3.
Revenues for the year from continuing operation improved by about 51% over last year to nearly RMB 829 million or US$121 million, the company noted.
China Medical said the adjusted results exclude the impact of stock compensation expense, amortization of acquired intangible assets and acquired in-process research and development charge.
The company expects to report its fourth-quarter and full-year results in late July 2009.
CMED closed Thursday's regular trading at $22.9 on the Nasdaq.
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