Chindex posts 4Q profit on medical-product sales

Chindex International Inc., which sells medical products in China, said Thursday it turned a profit in the fiscal fourth quarter as hospital revenues and sales of medical devices climbed.

Chindex said it earned $3.4 million, or 22 cents per share, in the three months ending March 31. The company had lost $2.7 million, or 20 cents per share, last year. Revenue jumped 72 percent, to $59.7 million from $34.6 million as product sales more than doubled.

The Bethesda, Md., company said medical-products revenue rose to $39.5 million from $17.5 million due to gains from government-backed loan programs, increased inpatient and outpatient revenues from its hospital unit, and greater sales of devices like the da Vinci robotic-surgery system.

Healthcare-services revenue edged up to $20.2 million from $17.5 million.

For the fiscal year, Chindex's profit grew 36 percent, to $5 million, or 31 cents per share, from $3.7 million, or 27 cents per share. Sales grew 32 percent, to $171.4 million from $130 million.