Chindex International Inc., which sells medical products in China, said Monday its profit jumped in its fiscal third quarter due to a tax refund and greater sales of surgical robots and ultrasound systems.
In the quarter ended Dec. 31, Chindex's profit rose to $3.9 million, or 24 cents per share, from $846,000, or 5 cents per share, in the year-ago period. The latest quarter included a tax refund of $3.3 million, or 15 cents per share, related to the company's health care services business.
Revenue rose 12 percent to $46.5 million from $41.6 million.
Chindex said product sales during the quarter grew 18 percent to $24.9 million from $21.1 million. Its best selling products included da Vinci robotic surgical systems — which are made by Intuitive Surgical — and the S/SC 2000 ultrasound platform.
Health care service revenue gained 5 percent to $21.6 million from $20.5 million.
In afternoon trading, Chindex shares lost 86 cents, or 6.8 percent, to $11.71. The stock has ranged from $3.50 to $16.46 over the past year.