China Medical (fka CMEDQ)

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News: China Medical to Announce Second Quarter Unaudited Financial Results for the Fiscal Year Ending March 31, 2007 on November 13, 2006


2006-10-25 06:00 ET - News Release


Company Website: http://www.chinameditech.com
BEIJING -- (Business Wire)

China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a leading China-based medical device company that develops, manufactures and markets high intensity focused ultrasound tumor therapy systems and advanced in-vitro diagnostic systems, announced that it will release its unaudited financial results for the September quarter of the fiscal year ending March 31, 2007 (“2Q FY 2006”) after the U.S. market closes on Monday, November 13, 2006. The Company will host a conference call that day at 6:00 p.m. Eastern Time (7:00 a.m. Beijing/Hong Kong time on November 14, 2006), to discuss the results.

For the conference call, Mr. Sam Tsang, Chief Financial Officer, Mr. Charles Zhu, Vice President, and Ms. Winnie Fan, Senior Manager of Finance and Investor Relations will discuss the results and take questions.

OUTLOOK FOR FY2006

The Company maintains the outlook for FY2006. The estimated annual net revenues for FY2006 remains to be between RMB521 million (US$65.2 million) and RMB533 million (US$66.7 million) and annual net income for FY2006 remains to be between RMB263 million (US$32.9 million) and RMB271 million (US$33.9 million). Given the current outstanding shares of 27.36 million equivalent ADS, the estimated earnings per ADS is between RMB 9.61 (US$1.20) and RMB9.90 (US$1.24). For the convenience of readers, RMB amounts have been translated into U.S. dollars at the rate of RMB7.9943 to US$1.00.

CONFERENCE CALL

The dial-in details for the live conference call are as follows:

U.S. Toll Free Number +1.866.383.8108
International dial-in number +1.617.597.5343
Passcode CMEDCALL.

A live webcast of the conference call will be available on the investor relations section of the Company’s website at: www.chinameditech.com.

A replay of the webcast will be available for one month on this website.

A telephone replay of the call will be available after the conclusion of the conference call through 6:00 p.m. Eastern Time, November 14, 2006.

The dial-in details for the replay are as follows:

U.S. Toll Free Number +1.888.286.8010
International dial-in number +1.617.801.6888
Passcode 17516986.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the Company's expectations of projected annual results in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in China Medical's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. China Medical does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About China Medical Technologies, Inc.

China Medical Technologies, Inc. is a China-based medical device company that develops, manufactures and markets products in China using HIFU, for the treatment of solid cancers and benign tumors. China Medical believes that it is a leader in the design and development of HIFU tumor therapy devices in China. In addition, China Medical believes that it is the first China-based company to offer an advanced in-vitro diagnostics system, or IVD system, using enhanced chemiluminescence, or ECLIA, technology to detect and monitor various diseases and disorders through laboratory evaluation and analysis of blood, urine or other body fluids.

Contacts:

China Medical Technologies, Inc.
Winnie Fan, 86 10 6530 8833
[e-mail]
or
Christensen
Tip Fleming, 1-917-412-3333
[e-mail]

Source: China Medical Technologies, Inc.