IKang Announces Unaudited Financial Results For The Second Quarter Ended September 30, 2016

BEIJING, Dec. 01, 2016 (GLOBE NEWSWIRE) -- iKang Healthcare Group, Inc. ("iKang" or the "Company") (Nasdaq:KANG), the largest provider in China's fast growing private preventive healthcare services market with a market share of 13.6% in terms of revenue in calendar year 2014, today announced its unaudited financial results for the second quarter ended September 30, 2016.

Fiscal Second Quarter Ended September 30, 2016 Financial Highlights
  • Net revenues were US$119.7 million, an increase of 21.4% year-over-year (an increase of 28.3% on RMB basis) ( 1 ) 
  • Gross profit was US$54.1 million, an increase of 19.0% year-over-year (an increase of 25.8% on RMB basis) ( 1 ) 
  • Net income attributable to the Company was US$5.9 million, a decrease of 49.1% year-over-year (a decrease of 46.1% on RMB basis) ( 1 ) 
  • Non-GAAP net income attributable to the Company (2) was US$6.4 million, a decrease of 47.1%  year-over-year (a decrease of 44.1% on RMB basis) ( 1 ) 
  • Basic and diluted income per ADS attributable to common shareholders were US$0.09 and US$0.09, respectively, as compared to US$0.17 and US$0.17, respectively, in the fiscal second quarter of 2015
  • Non-GAAP basic and diluted income per ADS (3) attributable to common shareholders were US$0.09 and US$0.09, respectively, as compared to US$0.18 and US$0.17, respectively, in the fiscal second quarter of 2015

First Fiscal Six Months ended September 30, 2016 Financial Highlights
  • Net revenues were US$221.0 million, an increase of 19.5% year-over-year (an increase of 26.1% on RMB basis) ( 1 ) 
  • Gross profit was US$98.9 million, an increase of 12.8% year-over-year (an increase of 19.1% on RMB basis) ( 1 )
  • Net income attributable to the Company was US$8.0 million, a decrease of 64.2% year-over-year (a decrease of 62.0% on RMB basis) ( 1 ) 
  • Non-GAAP net income attributable to the Company (2) was US$9.0 million, a decline of 61.5% year-over-year (a decrease of 59.2% on RMB basis) ( 1 )
  • Basic and diluted income per ADS attributable to common shareholders were US$0.12 and US$0.12, respectively, as compared to US$0.32 and US$0.32, respectively, in the first fiscal six months of 2015
  • Non-GAAP basic and diluted income per ADS (3) attributable to common shareholders were US$0.13 and US$0.13, respectively, as compared to US$0.34 and US$0.33, respectively, in the first fiscal six months of 2015

(1) RMB basis refers to the year on year comparison made on local currency - Chinese Renminbi basis.(2) Non-GAAP net income attributable to the Company is defined as net income attributable to the Company excluding share-based compensation expenses. For more information on these non-GAAP financial measures, please see the section captioned under "Non-GAAP Financial Measures" and the tables captioned "Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this release.(3) Non-GAAP basic and diluted earnings per ADS is defined as non-GAAP net income divided by the weighted average number of basic and diluted ADS.

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