Concord Medical Services Holdings Limited announced its unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2014.
Article continues below
Q4 otal net revenues from the network business were RMB160.3 million ($25.8 million) in the fourth quarter of 2014, an 8.3% decrease from RMB174.8 million in the fourth quarter of 2013.
Gross profit was RMB86.9 million ($14 million), representing a 26.6% decrease from RMB118.4 million in the fourth quarter of 2013.
Net income attributable to ordinary shareholders for the fourth quarter of 2014 increased 154.1% to RMB28.1 million ($4.5 million), compared to RMB11.1 million for the fourth quarter of 2013. Both basic and diluted earnings per American Depositary Share ("ADS")[2] for the fourth quarter of 2014 were RMB0.64($0.10).
Non-GAAP net income for the fourth quarter of 2014 increased 133.0% to RMB33.1 million ($5.3 million), compared to RMB14.2 million for the fourth quarter of 2013. Both non-GAAP basic and diluted earnings per ADS in the fourth quarter of 2014 were RMB0.74($0.12)
Adjusted EBITDA[3] (non-GAAP) was RMB101.7 million ($16.4 million) for the fourth quarter of 2014, representing a 14.0% increase from the fourth quarter of 2013.
Full year 2014
Total net revenues for the full year 2014 were RMB606.9 million ($97.8million), a 7.8% increase from 2013.
Gross profit for the full year 2014 was RMB332.3 million ($53.6 million), a 3.8% decrease from 2013.
Net income attributable to ordinary shareholders for the full year 2014 increased 44.5% to RMB124.7 million ($20.1 million) compared to RMB86.3 million for the full year 2013. Basic and diluted earnings per ADS for the full year 2014 were RMB2.77($0.45) and RMB2.76($0.45), respectively.
Non-GAAP net income for the full year of 2014 increased 18.6% to RMB114.0 million ($18.4 million), compared to RMB95.3 million for the full year of 2013. Non-GAAP basic and diluted earnings per ADS in 2014 were RMB2.54($0.41) and RMB2.53($0.41), respectively.
Adjusted EBITDA(non-GAAP) was RMB348.6 million($56.2) in 2014, representing a 9.3% increase from 2013.
The number of treatment and diagnostic patient cases was 29,791 and 323,757 for the full year 2014, respectively, representing a 6.5% decrease and 2% increase from 2013, respectively. ■