Market Report -- In Play (CMED)
November 19, 2009 5:22 AM ET
China Medical Tech misses by $0.49, misses on revs; guides Q3 revs below consensus Reports Q2 (Sep) earnings of $0.10 per share, excluding non-recurring items,
$0.49 worse than the First Call consensus of $0.59; revenues fell 14.8% year/year to $24.3 mln vs the $24.6 mln consensus. Gross margin decreased to 65.4% for 2Q FY2009 as compared to 70.5% for the corresponding period of FY2008. The decrease in gross margin was primarily due to the price reduction on ECLIA reagent kits starting from September 2009. Co issues
downside guidance for Q3, sees Q3 revs of $24.9-26.4 mln vs. $27.10 mln consensus. Co estimates non-GAAP income from continuing operations for 3Q09 to be not less than $5.6 mln.
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