China Medical Technologies Reports Fiscal Q3 2005 Results; Re-Iterates Guidance; Stock Up in Pre-Market Trading (CMED)

China Medical Technologies (ticker: CMED) reported fiscal Q3 2005 earnings results this morning. There were no analyst estimates available. Key stats from the quarter:

Fiscal Q3 2005 Results (Qtr Ending Dec 31, 2005):

Net revenue rose 61.5% y-o-y to $13.7 million, and rose 25.4% sequentially.

HIFU therapy system revenue rose 39.3% y-o-y to $9.5 million, and rose 29.2% sequentially.

ECLIA system revenue rose 17.4% sequentially to $4.2 million.

Gross margin was 70.4% up from 69.8 % for both Q3 2004 and Q2 2005.

Operating expenses rose 74.4% sequentially to $2.7 million.

Net income rose 41.8% y-o-y to $7.1 million, and rose 32.6% sequentially.

Fully diluted earnings per ADS of $0.26.

Cash flow from operating activities was $4.7 million in Q3.

As of December 31, 2005, cash of $94.8 million.

FY 2005 Guidance (FY Ending March 31, 2006):

Net revenue of $44.6 million - $49.6 million.

Net income of $21.7 million - $23.5 million.

NOTE: We will be posting a transcript of today's conference call after completion of the call.

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