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Thursday, November 19, 2009
China Medical Technologies Down on 2Q Loss
By Darryl R. Isherwood
FOXBusiness
China Medical Technologies Inc. (CMED) shares fell Thursday after the company posted a quarterly loss.
The company was hurt by lower revenue in its immunodiagnostic segment. For the second quarter ended Sept. 30, the company reported a loss form continuing operations of $6.9 million, or 24 cents per American Depository Share.
Revenue was off 14% to $24.3 million.
The company forecast third quarter earnings above $5.6 million on revenue of $24.9 to $26.4 million.
The stock fell 14% to $12.98.
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