Shares of Chindex International Inc. (CHDX) have surged more than 16% after fiscal first-quarter results topped expectations.
The company reported adjusted earnings of 25 cents per share, beating the Zacks Consensus Estimate by more than 257%.
Sales recorded a strong 41% growth to $45.3 million, primarily driven by the performance of the Medical Products division, which grew 86%.
The Zacks Consensus Estimate for the fiscal year ending March 2010 is currently pegged at 34 cents per share.
Meanwhile, the company also stated that it has entered into an exclusive multi-year distribution agreement with Cutera Inc. (CUTR) and Germany-based Biotest AG, without disclosing the terms of the deal.
CHDX, a Zacks #3 Rank (“Hold”) stock, is trading on extraordinarily heavy volume of about 892,000, against the average daily volume of about 175,000.
“CHDX” Free Stock Analysis: Buy? Sell? Hold?
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