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Apr 1, 03 - CHINDEX INTERNATIONAL, INC. ANNOUNCES 2002 YEAR END AND FOURTH QUARTER RESULTS;. REVENUES UP 26%, $0.30 EARNINGS PER SHARE. Continuing Growth In All Business Units.
Apr 16, 03 - CHINDEX INTERNATIONAL ANNOUNCES. DISTRIBUTION AGREEMENT WITH BRAINLAB.
     
   
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CHINDEX INTERNATIONAL, INC.
Announces 2nd Quarter and Six Months Results

BETHESDA, MARYLAND (August 14, 2002) . . . . Chindex International, Inc. (NASDAQ: CHDX), the leading independent American company providing Western healthcare products distribution and medical services in the People's Republic of China, today announced its second quarter and six month results.

Revenue for this year's second quarter was $15.0 million with a net loss of $207,000 or a loss per share of $0.24. This compares to revenue of $13.2 million with a net loss of $225,000 or a loss per share of $0.26 for the second quarter of 2001.

Revenue for this year’s six-month period was $30.5 million with a net loss of $399,000 or a loss per share of $0.47. This compares to revenue of $23.8 million with a net loss of $200,000 or a loss per share of $0.23 for the same period last year.

The Company noted that for the past twenty years its business has operated on an annualized basis. Historical operating results have varied significantly from period to period. These fluctuations are expected to continue due to the nature of the Capital Medical Equipment segment of the Company’s business.

Roberta Lipson, Chindex President and CEO commented on the Company’s results and growth trends:

“Chindex continues to be a leader in healthcare in China. We expect to experience period to period fluctuations as we have in the past. We have historically seen strong growth trends in our businesses over time and we believe we are well positioned for the future.

“Our results through six months in our Healthcare Products Distribution and Healthcare Services segments show significant growth over the prior year. Healthcare Products revenue increased 43% and Healthcare Services revenue increased 54%. Operating results in both segments improved significantly. In the Capital Medical Equipment segment revenue increased 6%. Operating results decreased significantly due to the impact of the timing and composition of major tenders as well as the ongoing competitive pricing pressures due to the Chinese tendering regulations. We are now finalizing the next phase of our loan program contracts which we expect will be valued at approximately $7 million and additional supply contracts awarded as a result of a major equipment tender which appointed us the sole supplier of echocardiography. Both of these programs should begin shipping in the third quarter,” Lipson concluded.

Chindex is a leading American company in healthcare in the Greater Chinese marketplace including Hong Kong. It provides representative and distribution services to a number of major multinational companies including Siemens AG (diagnostic color ultrasound scanners under the Acuson and Siemens brand names), Becton-Dickinson (including vascular access, infusion and critical care systems), Johnson & Johnson (clinical chemistry analyzers), and Guidant (interventional cardiology products including stents, balloon catheters, and guide wires). It also provides healthcare services through the operations of its private hospital corporation in China. With more than twenty years of experience, over 500 employees, and operations in the United States, 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 and www.beijingunited.com.

The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining 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. 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 after the date hereof or to reflect the occurrence of unanticipated events.

CHINDEX INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 
  Three Months Ended   Year Ended
  June 30,   June 30,
  2002   2001   2002   2001
Total sales and service revenue     $ 14,968,000       $ 13,201,000       $ 30,546,000       $ 23,807,000  
Cost and Expenses                                        
  Cost of goods sold       9,995,000         8,986,000         20,917,000         15,935,000  
  Salaries and payroll taxes       3,455,000         2,502,000         6,498,000         4,678,000  
  Travel and entertainment       540,000         533,000         977,000         874,000  
  Other       1,575,000         1,449,000         3,044,000         2,596,000  
Loss from operations   (   597,000 )   (   269,000 )   (   890,000 )   (   276,000 )
Minority Interest   (   23,000 )   (   4,000 )   (   23,000 )   (   9,000 )
Other income and (expenses)                                        
  Interest expense   (   7,000 )   (   2,000 )   (   11,000 )   (   4,000 )
  Interest income       12,000         36,000         27,000         80,000  
  Miscellaneous income - net       3,000         99,000     (   20,000 )       198,000  
Loss before income taxes   (   612,000 )   (   140,000 )   (   917,000 )   (   11,000 )
Benefit from (provision for) income taxes       405,000     (   85,000 )       518,000     (   189,000 )
Net loss   (   207,000 )   (   225,000 )   (   399,000 )   (   200,000 )
Net loss per common share undefined basic and diluted   (   0.24 )   (   0.26 )   (   0.47 )   (   0.23 )
Weighted average shares outstanding undefined basic and diluted       859,861         851,069         856,062         851,069  

Copyright © 2002 Chindex International, Inc. All Rights Reserved