Chindex International, Inc. reported net income of $538,000 or $0.03 per share, in its second fiscal quarter of 2010. This was down sharply from the $862,000 or $0.05, reported in the same quarter last year. Revenues for the quarter were $38.1 million, approximately equal to last year’s second fiscal quarter.
Roberta Lipson, the CEO of Chindex International, Inc., said, “Our second quarter reflects continued growth in the Healthcare Services division, offset by disruption related to construction at our Beijing facility…As we enter the back half of the fiscal year, we remain extremely well-positioned to capitalize on China’s premium-quality healthcare services market, continued economic vibrancy and opportunities created by healthcare reform.”
The company saw particular strength in its Healthcare Services division where revenue increased 10% from last year due to strong growth in patient volume during the quarter. Chindex International, Inc. reported operating income of $2.3 million in this division in the quarter.
The Medical Products division was weak and saw its revenues drop 10% on a year over year basis. Chindex International, Inc. blamed a delay in the medical equipment order cycle due to a review of import approvals by the government of China. The division reported an operating loss in the quarter.