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Concord Medical 2Q profit climbs 11 percent

Tue, 08/16/2011 - 6:45am
The Associated Press

Concord Medical Services Holdings Ltd., which operates radiation treatment and medical imaging centers in China, said Tuesday its second-quarter earnings climbed 11 percent, as patient volumes grew, and it saw a gain from a new cancer center.

The Chinese company earned 35.9 million yuan ($5.6 million) in the three months that ended June 30. That compares with net income of 32.2 million yuan ($5.1 million) in last year's quarter. Earnings per American Depositary Share climbed to 0.79 yuan from 0.66 yuan.

Adjusted earnings were 0.13 yuan per ADS.

Revenue climbed more than 24 percent to 123.8 million yuan ($19.4 million).

Concord Medical added four radiotherapy and imaging centers in the quarter and operated 125 in 46 Chinese cities as of June 30. The company said it handled more than 42,000 patient diagnostic cases in the quarter, a 17 percent increase from last year's second quarter.

Results also included a contribution from the new Chang'an CMS International Cancer Center.

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