China Med Tech Earnings Score (CMED)
China Medical Technologies Inc. (NASDAQ: CMED) is surging in pre-market trading this Thursday morning. The company’s Q4 net income rose 26% to RMB105.2M or about $15 million, which translates to $0.53 EPS. Before options and other items the company posted $0.66 EPS. Its revenue jumped about 74% to RMB$284.2 million or $40.5 million. There is a tiny group of analysts that follow the company, but First Call has estimates at $0.63 EPS on $36.95 million in revenues.
The company also said that its reagent businesses will continue to drive fiscal-year growth, despite declines in equipment sales.
Shares closed yesterday at $33.44, and with 45 minutes to the open we have already seen about 82,000 shares trade hands with the last trades north of $39.00. The 52-week trading range is $26.12 to $57.50.
Jon Ogg
June 12, 2008