China Medical Technologies, Inc. (CMED) F1Q 2011 Earnings Call August 16, 2011 8:00 AM ET Executives Winnie Yam – IR Charles Zhu – SVP, Operations Takyung Sam Tsang – CFO Analysts Jack Hu – Deutsche Bank Bin Li – Morgan Stanley PresentationOperator
Good day ladies and gentlemen and welcome to the First Quarter 2011 China Medical Technologies, Inc. Earnings Conference Call. My name is Dian 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 remainder today’s conference is being recorded for replay purposes. I would now like to turn the call over to your host, Winnie Yam. Please proceed. Winnie Yam Thank you. Good day ladies and gentlemen. I am pleased to welcome you to China Medical’s earnings conference call. China Medical already announced its first fiscal quarter financial results ended June 30, 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 finish 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 Litigation Reform Act of 1995. Forward-looking statements involve inherent risk and uncertainties. As such, the result 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.
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.