The Board of Directors has appointed Dr. Yuedong Li to the Board effective October 1, 2007. Dr. Li is currently the Chief Secretary of the China Hospital Association and the Deputy Director of Center of Organ Transplant at Beijing University. Dr. Li also holds various positions in a number of medical associations. He has over 30 years of experience in medical profession, clinical research and management of a number of healthcare organizations in the PRC. Mr. Wu stated, "We welcome Dr. Li to join our board. Dr. Li is an outstanding surgeon and a successful leader in healthcare organizations. His expertise will be invaluable to the rapid development of the Company."
Outlook for FY2007
The Company is reassessing the current targets for FY2007 based on better than expected ECLIA reagent business and smooth progress of FISH business. The current targeted net revenues for FY2007 range from RMB830 million to RMB870 million. The current targeted adjusted net income excluding stock compensation expense and amortization of acquired intangible assets (non-GAAP) for FY2007 ranges from RMB390 million to RMB410 million. The current targeted adjusted diluted earnings per ADS excluding stock compensation expense and amortization of acquired intangible assets (non-GAAP) for FY2007 ranges from RMB14.15 to RMB14.80 assuming a diluted number of ADS of 31,000,000 and excluding interest for convertible notes and amortization of convertible notes issuance cost.
These targets are based on the Company's current views on the operating and market conditions which are subject to change.
The assessment and revision on these targets will be completed when the Company reports its 2Q FY2007 financial results in November 2007.
Non-GAAP Measure Disclosures
To supplement its consolidated financial statements presented in
accordance with United States Generally Accepted Accounting Principles
("GAAP"), the Company uses non-G
|SOURCE China Medical Technologies, Inc.|
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