Chindex International, Inc. Announces 2nd Quarter and Six Months Results; Revenue Growth Continues.Business Editors BETHESDA, Md.--(BUSINESS WIRE)--Aug. 14, 2001 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. Revenue for this year's second quarter was $13.2 million with a net loss of $225,000 or a loss per share of $0.26. This compares to revenue of $9.5 million with net income of $116,000 or earnings per share of $0.15 for the same period last year. Revenue for this year's six-month period was $23.8 million with a net loss of $200,000 or a loss per share of $0.23. This compares to revenue of $16.5 million with a net loss of $233,000 or a loss per share of $0.29 for the same period last year. The Company noted that for the past 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. its business has operated on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis. Historical operating results have varied significantly from period to period. These fluctuations are expected to continue due to the nature of the Healthcare Products segment of the Company's business. 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, a Siemens company (diagnostic ultrasound diagnostic ultrasound n. Use of ultrasound to obtain images for medical diagnostic purposes. scanners), Becton-Dickinson (including vascular access vascular access Clinical medicine The ability to enter the vascular system; the ease with which the vascular system can be entered for administering therapy or obtaining blood for testing , infusion and critical care systems), 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) and Tyco/Kendall Healthcare Products (including brands such as Davis & Geck, Sherwood, Kendall, and Curity). It also provides healthcare services through the operations of its private hospital corporation in China. With twenty years of experience, approximately 370 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
U.S.-CHINA INDUSTRIAL EXCHANGE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three months ended June 30, Six months ended June 30,
2001 2000 2001 2000
---- ---- ---- ----
Total sales and
service revenue $13,201,000 $ 9,462,000 $23,807,000 $16,502,000
Cost and Expenses
Cost of goods
and services
sold 8,986,000 6,217,000 15,935,000 10,821,000
Salaries and
payroll taxes 2,502,000 1,919,000 4,678,000 3,491,000
Travel and
entertainment 533,000 411,000 874,000 690,000
Other 1,449,000 1,116,000 2,596,000 2,077,000
----------- ----------- ----------- -----------
(Loss)/income
from operations (269,000) (201,000) (276,000) (577,000)
Minority Interest (4,000) (3,000) (9,000) (26,000)
Other income and
(expenses)
Interest
expense (2,000) (36,000) (4,000) (58,000)
Interest income 36,000 39,000 80,000 83,000
Miscellaneous
income - net 99,000 273,000 198,000 383,000
----------- ----------- ----------- -----------
(Loss)/income
before income
taxes (140,000) 72,000 (11,000) (195,000)
(Provision)/
benefit for
income taxes (85,000) 44,000 (189,000) (38,000)
----------- ----------- ----------- -----------
Net (loss)/income $ (225,000) $ 116,000 $ (200,000) $ (233,000)
=========== =========== =========== ===========
Net (loss)/income
per common share
- basic and
diluted $ (0.26) $ 0.15 $ (0.23) $ (0.29)
=========== =========== =========== ===========
Weighted average
shares
outstanding -
basic and
diluted 851,069 790,557 851,069 790,435
=========== =========== =========== ===========
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