Medical device maker China Medical Technologies Inc posted a quarterly loss, hurt by lower revenue from its immunodiagnostic segment, knocking its shares down 19 percent.
The China-based company also forecast third-quarter earnings from continuing operations above $5.6 million, on revenue of $24.9 million to $26.4 million.
For the second quarter ended Sept. 30, the company reported a loss from continuing operations of $6.9 million, or 26 cents per American Depositary share.
Excluding items, it earned 10 cents per ADS.
Revenue fell 14 percent to $24.3 million as customers lowered their inventory levels in anticipation of a selling price reduction on its reagent kits.
Second-quarter revenue from its immunodiagnostic segment fell 37 percent to $11.3 million.
Shares of the company were down $2.9 to $12.25 in pre-market trade. They closed at $15.15 Wednesday on Nasdaq.
(Reporting by Anand Basu in Bangalore; Editing by Anil D'Silva)