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China Medical Technologies (NASDAQ: CMED): Good Medicine for Your Portfolio
China Medical Technologies (NASDAQ: CMED): Good Medicine for Your Portfolio
China Medical Technologies (NASDAQ: CMED) engages in the development, manufacture, and commercialization of high-tech medical devices in China. The Company's three main product lines are: advanced in-vitro diagnosis (IVD) products using Enhanced Chemiluminescence (ECLIA) technology, Fluorescent in situ Hybridization (FISH) technology, to detect and monitor a number of diseases and disorders, and High Intensity Focused Ultrasound (HIFU) for treatment of cancers and benign tumors.
China Medical Technologies reported first quarter 2008 revenues increased 49.7% to $33.1 million from $22.5 million in the first quarter 2007. Non-GAAP net income for the first quarter 2008 increased 61.2% to $16.1 million from $10.0 million in 2007. Revenues for the year ended March 31, 2008 were up 67% to $130.6 million from $78.0 million for the year ended March 31, 2007. Operating income for the year ended March 31, 2008 increased 46% to $60.5 million from $41.4 million in 2007.
In April of this year China Medical completed the development of the Prostate Cancer FISH Kit. This kit is a prostate cancer diagnosis test which is based on their FISH (Fluorescent in situ Hybridization) technology. Prostate cancer is one of the most frequent occurring cancers among men in China as well as in most countries around the world.
Earlier in the year China Medical acquired Beijing Bio-Ekon Biotechnology Co., Ltd, a fast growing company in Enhanced Chemiluminescence (ECLIA) technology. Beijing Bio-Ekon sells its products to over 800 hospitals in China.
China Medical Technologies closed on August 22, 2008 at $44.63, down 22% from its fifty-two week high of $57.50. The current stock price appears to offer an excellent opportunity to invest in one of China's fast growing companies. At a price earnings multiple of 25 and revenues and earnings growing in excess of 50%, one can purchase a tremendous growth company at less than half its growth rate. China's market and population is immense and so are China Medicals future growth prospects. China Medical Technologies looks like the right medicine for a growth stock portfolio.
References:
http://phx.corporate-ir.net/phoenix.zhtml?c=192852&p=irol-IRHome
Company First Quarter 2008 Results
Company 2007 Annual Report
http://phx.corporate-ir.net/phoenix.zhtml?c=192852&p=irol-news&nyo=0
Company 2008 Press Releases
Hotstocked.com articles, 25 August 2008, 05:10
China Medical Technologies (NASDAQ: CMED) engages in the development, manufacture, and commercialization of high-tech medical devices in China. The Company's three main product lines are: advanced in-vitro diagnosis (IVD) products using Enhanced Chemiluminescence (ECLIA) technology, Fluorescent in situ Hybridization (FISH) technology, to detect and monitor a number of diseases and disorders, and High Intensity Focused Ultrasound (HIFU) for treatment of cancers and benign tumors.
China Medical Technologies reported first quarter 2008 revenues increased 49.7% to $33.1 million from $22.5 million in the first quarter 2007. Non-GAAP net income for the first quarter 2008 increased 61.2% to $16.1 million from $10.0 million in 2007. Revenues for the year ended March 31, 2008 were up 67% to $130.6 million from $78.0 million for the year ended March 31, 2007. Operating income for the year ended March 31, 2008 increased 46% to $60.5 million from $41.4 million in 2007.
In April of this year China Medical completed the development of the Prostate Cancer FISH Kit. This kit is a prostate cancer diagnosis test which is based on their FISH (Fluorescent in situ Hybridization) technology. Prostate cancer is one of the most frequent occurring cancers among men in China as well as in most countries around the world.
Earlier in the year China Medical acquired Beijing Bio-Ekon Biotechnology Co., Ltd, a fast growing company in Enhanced Chemiluminescence (ECLIA) technology. Beijing Bio-Ekon sells its products to over 800 hospitals in China.
China Medical Technologies closed on August 22, 2008 at $44.63, down 22% from its fifty-two week high of $57.50. The current stock price appears to offer an excellent opportunity to invest in one of China's fast growing companies. At a price earnings multiple of 25 and revenues and earnings growing in excess of 50%, one can purchase a tremendous growth company at less than half its growth rate. China's market and population is immense and so are China Medicals future growth prospects. China Medical Technologies looks like the right medicine for a growth stock portfolio.
References:
http://phx.corporate-ir.net/phoenix.zhtml?c=192852&p=irol-IRHome
Company First Quarter 2008 Results
Company 2007 Annual Report
http://phx.corporate-ir.net/phoenix.zhtml?c=192852&p=irol-news&nyo=0
Company 2008 Press Releases
Hotstocked.com articles, 25 August 2008, 05:10
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