Bethesda-based Chindex International, Inc. (NASDAQ: CHDX), which hit a slight bump last quarter—posting a net loss—got back on track in the second quarter ended June 30, 2011.
Chindex conducts business a little differently and generates the majority of its income by providing health care services in China through its subsidiary United Family Healthcare. The company owns a network of hospitals that give private primary care. Its Beijing UFH hospital is currently undergoing an expansion.
Chindex second quarter results show that the company has shifted from product sales which cut revenue by more than $10 Million. The company now focused solely on healthcare services, increased that portion by 19.4% in the quarter to $29.5 Million from $24.7 Million in 2010. Although 2010 second quarter full-revenue was $41.5 Million
Net income in the second quarter more than made up for the loss in the first quarter of 2011. Net income totaled $3.37 Million bringing the first half to a profit of $1.7 Million.
The company's balance sheet showed Cash and cash equivalents increasing to $38.6 Million.
Roberta Lipson, President and CEO of
Chindex International will hold their second quarter 2011 conference call 8:00 am ET on August 9, 2011.