Chindex International, Inc. Announces $0.15 Per Share Earnings For 2nd Quarter And First Ever Profitable Results For Beijing United Family Hospital.Business Editors BETHESDA, Md.--(BUSINESS WIRE)--Aug. 14, 2000 Chindex International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHDX) (U.S.-China Industrial Exchange, Inc.), the leading independent American company providing Western healthcare products distribution and medical services in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, today announced its second quarter and six month results including the first profitable quarterly results for its unique private hospital venture in Beijing. Revenue for this year's second quarter was $9.5 million with net income of $116,000 or earnings per share of $0.15. This compares to revenue of $13.2 million with net income of $817,000 or earnings per share of $1.03 for the same period last year. Revenue for this year's six-month period was $16.5 million with a net loss of $233,000 or a loss per share of $0.29. This compares to revenue of $22.7 million with net income of $1.1 million or earnings per share of $1.42 for the same period last year. The Company noted that its current loan financing program guaranteed by the U.S. Export - Import Bank for the capital equipment portion of its Healthcare Products segment is nearing completion. Assuming all final approvals are received, shipments of the first traunche of the program are expected to begin later this year. The second traunche of contracts under the financing authorization will follow. The 1999 six-month results included $11.7 million in revenues from the Company's prior Ex-Im financing transaction. For the first period since its inception in 1997 the Company's Healthcare Services segment, composed of the operations of its Beijing United Family Hospital, reported an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of $155,000 in the second quarter. The Company pioneered privatized healthcare in China with the opening of its unique foreign-invested hospital which is still the only such venture operating with Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
"With our Healthcare Services segment showing profitable results this quarter we have proved that our formula for private healthcare services in China works. We are very pleased to see Beijing United growing rapidly, and moving into profitability after just over two years of operations. The results have been improving significantly every quarter. We are expanding the operations of the current hospital and are well along in development plans for our next phase of investment in this segment of our business," noted Roberta Lipson, Chindex President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our growth in distribution to the hospital, retail pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. and logistics markets is also continuing to accelerate rapidly. We have announced new agreements with major multi-national clients this year which are already contributing to our results. In addition we are preparing to begin several new product launches to the retail pharmacy markets later this year. It is a very exciting growth period for our distribution business," Lipson concluded. Chindex is a leading American company in healthcare in the Greater Chinese marketplace including Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. . It provides representative and distribution services to a number of major multinational companies including Acuson (diagnostic ultrasound diagnostic ultrasound n. Use of ultrasound to obtain images for medical diagnostic purposes. scanners), Johnson & Johnson (clinical chemistry analyzers), Guidant (interventional cardiology interventional cardiology Cardiology The subspecialty of cardiology dedicated to the diagnosis, medical and mechanical therapy, pre- and post-procedure management of adult patients with acute and chronic forms of cardiovascular disease amenable to catheter-based products including stents, balloon catheters balloon catheter n. A catheter with an inflatable balloon at its tip, used especially to expand a partially obstructed blood vessel or bodily passage and to measure blood pressure in a blood vessel. Also called balloon-tip catheter. , and guide wires), Becton Dickinson BD (NYSE: BDX), is a medical technology company that manufactures and sells medical devices, instrument systems and reagents. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs 27,000 people in nearly 50 countries. (including hypodermic needles hypodermic needle n. 1. A hollow needle used with a hypodermic syringe. 2. A hypodermic syringe including the needle. and syringes, infusion therapy systems, critical care systems, preanalytical solutions, and consumer healthcare products) and Tyco/Kendall Healthcare Products (including brands such as Davis & Geck, Sherwood, Kendall, Sheridan, and Curity). It also provides healthcare services through the operations of its private hospital corporation in China. With nearly twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. of experience, approximately 330 employees, and operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , China and Hong Kong, the Chindex strategy is to expand its cross-cultural reach by providing leading edge technologies, quality products and services to Greater China's professional communities. Further company information may be found at the Chindex website, www.chindex.com. The statements in this press release that relate to future plans, events or performance are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including risks associated with uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to the Company's (i) performance goals, including successful conclusion of efforts to secure government-backed financing, (ii) future events and earnings, including revenues from the Company's developmental businesses such as healthcare services, (iii) markets, including growth in demand in China for the Company's products and services, and (iv) proposed new operations, including expansion of its healthcare services business. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date hereof or to reflect the occurrence of unanticipated events.
Financial Summary Attached
CHINDEX INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months Ended June 30, Six Months Ended June 30,
2000 1999 2000 1999
---- ---- ---- ----
Total sales
and service
revenue $ 9,462,000 $ 13,240,000 $ 16,502,000 $ 22,645,000
Cost and
Expenses
Cost of goods
and services
sold 6,217,000 9,501,000 10,821,000 16,202,000
Salaries and
payroll taxes 1,919,000 1,815,000 3,491,000 3,255,000
Travel and
entertainment 411,000 340,000 690,000 601,000
Other 1,116,000 1,028,000 2,077,000 1,902,000
------------ ------------ ------------ ------------
(Loss)/income
from
operations (201,000) 556,000 (577,000) 685,000
Minority
Interest (3,000) (18,000) (26,000) (18,000)
Other income
and (expenses)
Interest
expense (36,000) 8,000 (58,000) 0
Interest
income 39,000 170,000 83,000 170,000
Miscellaneous
income - net 273,000 135,000 383,000 337,000
------------ ------------ ------------ ------------
Income/(loss)
before income
taxes 72,000 851,000 (195,000) 1,174,000
Benefit/
(provision) for
income taxes 44,000 (34,000) (38,000) (51,000)
------------ ------------ ------------ ------------
Net income/
(loss) $ 116,000 $ 817,000 $ (233,000) $ 1,123,000
============ ============ ============ ============
Net income/
(loss) loss
per common
share -
basic and
diluted $ 0.15 $ 1.03 $ (0.29) $ 1.42
============ ============ ============ ============
Weighted average
shares
outstanding -
basic
and diluted 790,557 790,313 790,435 790,313
============ ============ ============ ============
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