China Medical Technologies, Inc. (CMED) F4Q2010 Earnings Call June 2, 2011 8:00 am ET Executives Winnie Yam – IR Xiaodong Wu – CEO Sam Tsang – CFO Charles Zhu – SVP, Operations Analysts Jack Hu – Deutsche Bank Chris Li – Morgan Stanley PresentationOperator
Good day, ladies and gentlemen. And welcome to the Fourth Quarter 2010 China Medical Technologies Incorporated Earnings Conference Call. My name is Isha [ph] and I will be your operator for today. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes. I would now like to turn the conference over to your host for today, Winnie Yam. Please proceed. Winnie Yam Thank you. Good day, ladies and gentlemen. I’m pleased to welcome you to China Medical earnings conference call. China Medical already announced its fourth fiscal quarter and full year results ended March 31, 2011. A copy of the press release is also available on the company’s website at www.chinameditech.com. Today your speakers will be Mr. Xiaodong Wu, CEO; Mr. Sam Tsang, CFO; and Mr. Charles Zhu, Senior VP of Operations. After they’ve finished with their remarks, they will be available to answer your questions. Before we continue, please bear with me as I take you through the company’s Safe Harbor policy. The discussion today will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Legislation Reform Act of 1995. Forward-looking statements involve inherent risk and uncertainties. As such, the results may be materially different from the views expressed today. A number of potential risks and uncertainties are outlined in the company’s public filings with the U.S. Securities and Exchange Commission. China Medical does not undertake any obligation to update any forward-looking statement except as required by applicable law.
Shares of China Medical Technologies (Nasdaq:CMED) were gapping down Tuesday morning with an open price 65.9% lower than Monday's closing price. The stock closed at $1.82 yesterday and opened today's trading at 62 cents.
Shares of China Medical Technologies (Nasdaq:CMED) were gapping down Friday morning with an open price 30.2% lower than Thursday's closing price. The stock closed at $3.67 yesterday and opened today's trading at $2.56.
Shares of China Medical Technologies (Nasdaq:CMED) have taken a tremendous swing upward. The stock is trading at $3.12 as of 11 a.m. ET, 21.4% above Tuesday's closing price of $2.57. Volume is at 1.4 million, 3.6 times the daily average of 375,600.