Chindex International Inc. (CHDX, Financial) filed Quarterly Report for the period ended 2012-03-31.
Chindex Intl has a market cap of $148.9 million; its shares were traded at around $9.3 with a P/E ratio of 41.4 and P/S ratio of 1.3. Chindex Intl had an annual average earning growth of 6.1% over the past 5 years.
Salaries, wages and benefits increased 26% in the recent period compared to the comparable prior year period primarily due to the increased headcount of 33.8% associated with the revenue increases and development activities. The increase in headcount was due to both increased activities in our existing facilities as well as for hiring new personnel to staff our expanded Beijing and new Tianjin facilities.
Bad debt expense increased by $333,000, and, as a percentage of net revenue, bad debt expense was 2.4% in 2012, compared to 1.8% in the prior year period, both of which are in line with our historic averages.
Our revenue is dependent on seasonal fluctuations related to epidemiology factors and the life styles of the expatriate community. For example, many expatriate families traditionally take annual home leave outside of China during the summer months. As a result of these factors impacting the timing of revenues, our operating results have varied and are expected to continue to vary from period to period and year to year.
Because we receive 100% of our revenue and generate approximately 96% of our expenses within China, we have foreign currency exchange risk. The Chinese currency (RMB) is not freely traded and is closely controlled by the Chinese Government. The U.S. dollar (USD) has experienced volatility in world markets recently. During the three months ended March 31, 2012, the RMB appreciated approximately 0.1% against the USD, resulting in an exchange loss of $214,000.
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Chindex Intl has a market cap of $148.9 million; its shares were traded at around $9.3 with a P/E ratio of 41.4 and P/S ratio of 1.3. Chindex Intl had an annual average earning growth of 6.1% over the past 5 years.
Highlight of Business Operations:
Our healthcare services revenue for the three months ended March 31, 2012 was $32,512,000, a 34% increase from the three months ended March 31, 2011 revenue of $24,185,000. The increase in net revenue is attributable to growth in both inpatient and outpatient services.Salaries, wages and benefits increased 26% in the recent period compared to the comparable prior year period primarily due to the increased headcount of 33.8% associated with the revenue increases and development activities. The increase in headcount was due to both increased activities in our existing facilities as well as for hiring new personnel to staff our expanded Beijing and new Tianjin facilities.
Bad debt expense increased by $333,000, and, as a percentage of net revenue, bad debt expense was 2.4% in 2012, compared to 1.8% in the prior year period, both of which are in line with our historic averages.
Our revenue is dependent on seasonal fluctuations related to epidemiology factors and the life styles of the expatriate community. For example, many expatriate families traditionally take annual home leave outside of China during the summer months. As a result of these factors impacting the timing of revenues, our operating results have varied and are expected to continue to vary from period to period and year to year.
Because we receive 100% of our revenue and generate approximately 96% of our expenses within China, we have foreign currency exchange risk. The Chinese currency (RMB) is not freely traded and is closely controlled by the Chinese Government. The U.S. dollar (USD) has experienced volatility in world markets recently. During the three months ended March 31, 2012, the RMB appreciated approximately 0.1% against the USD, resulting in an exchange loss of $214,000.
Read the The complete Report
