iKang Healthcare Group, Inc. (“iKang” or the “Company”)
(Nasdaq:KANG), a major provider in China’s fast growing private
preventive healthcare services market, today announced its
unaudited financial results for the fiscal fourth quarter and
fiscal year 2017 ended March 31, 2018.
Fiscal Fourth Quarter Ended March 31,
2018 Financial Highlights
- Net revenues were US$89.5 million, an increase of 48.8%
year-over-year (an increase of 37.3% on RMB basis) (1)
- Gross profit was US$14.3 million, an increase of 803.7%
year-over-year (an increase of 733.9% on RMB basis) (1)
- Net loss attributable to the Company was US$67.5 million,
an increase of 102.7% year-over-year (an increase of 87.1% on RMB
basis) (1)
- Non-GAAP net loss attributable to the
Company(2) was US$33.8 million, an increase of 3.0%
year-over-year (an decrease of 4.9% on RMB basis) (1)
- Basic and diluted loss per ADS attributable to common
shareholders were US$0.98 and US$0.98, respectively, as
compared to a loss of US$0.49 and US$0.49, respectively,
in the fiscal fourth quarter of 2016
- Non-GAAP basic and diluted loss per ADS(3) attributable to
common shareholders were US$0.49 and US$0.49,
respectively, as compared to a loss of US$0.48
and US$0.48, respectively, in the fiscal fourth quarter of
2016
Fiscal Year 2017 Ended March 31, 2018
Financial Highlights
- Net revenues were US$563.9 million, an increase of 29.4%
year-over-year (an increase of 27.8% on RMB basis) (1)
- Gross profit was US$238.3 million, an increase of 37.3%
year-over-year (an increase of 36.5% on RMB basis) (1)
- Net loss attributable to the Company was US$17.3 million,
an increase of 53.8% year-over-year (an increase of 18.4% on RMB
basis) (1)
- Non-GAAP net income attributable to the
Company(2) was US$17.5 million, an increase of 288.1%
year-over-year (an increase of 288.5% on RMB basis) (1)
- Basic and diluted loss per ADS attributable to common
shareholders were US$0.25 and US$0.25, respectively, as
compared to a loss of US$0.17 and US$0.17, respectively, in
the fiscal year 2016
- Non-GAAP basic and diluted income per ADS(3) attributable
to common shareholders were US$0.26 and US$0.25,
respectively, as compared to a loss of US$0.14
and US$0.14, respectively, in the fiscal year 2016
(1) RMB basis refers to the year on year
comparison made on local currency – Chinese Renminbi basis.(2)
Non-GAAP net income/(loss) attributable to the Company is defined
as net income/(loss) 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/(loss) divided by the weighted
average number of basic and diluted ADS.
“iKang closed its fiscal year 2017 well positioned for a
sustained growth in the years ahead. ” said Mr. Lee Ligang Zhang,
Chairman and Chief Executive Officer of iKang. “Our strategy is to
build an ecosystem of preventive healthcare service with iKangCare+
and iKangPartners+ plans that focuses on delivering premium and
innovative services to our fast growing customer base, which is
yielding satisfactory results. Total net revenue increased by 48.8%
and 29.4% year over year for the quarter and the full fiscal year,
respectively. Each of our core and new business segments have
executed its mission and demonstrated growth as expected.”
In fiscal year 2017, the growth trend from an increasing
customer base across the board was underpinned by a 17.9% increase
in customer visits and 6.4% rise in blended average selling price
for both individual and corporate customers. Our nationwide network
has expanded to 110 from 107. While consolidating our market
leadership in tier 1 cities, we have also deepened our penetration
into tier 2 and 3 cities, resulting in revenue growth of
51.9%.”
As expected, our decision and commitment to invest in growth has
come with short-term implications for our cost lines, but we are
well prepared for fiscal year 2018 and beyond, where the benefits
of a fast growing customer base, expanding value-added service
offerings and geographical coverage, deepening market penetration
in lucrative lower tier cities and improving utilization of our
medical centers will continue to drive our business expansion and
revenue growth.
We have set out our strategy to be a leading player in China’s
private preventive healthcare industry, working in partnership with
renowned global institutions to offer value-added services to our
customers and in continued strategic investments. The
progress we have made over the course of fiscal 2017 sustained our
confidence in our strategy that builds our long-term position as
China’s leading provider of private preventive
healthcare.”
FISCAL FOURTH QUARTER ENDED MARCH 31, 2018 UNAUDITED
FINANCIAL RESULTS
Net RevenuesNet revenues for the fiscal
fourth quarter were US$89.5 million, representing a 48.8%
increase from US$60.2 million in the same period of the
last fiscal year. On an RMB basis, the revenue growth was
37.3%. As of March 31, 2018, the number of self-owned medical
centers totaled 110 compared to 107 as of March 31, 2017. In
this quarter, the Company served approximately a total of 947,000
customer visits under both corporate and individual programs,
representing an increase of 26.0% over the fiscal fourth quarter of
2016.
The table below sets forth a breakdown of net revenues:
|
|
|
|
(US$ million) |
Fiscal Fourth QuarterEnded March 31, 2018 |
Fiscal Fourth QuarterEnded March 31, 2017 |
YoY % Change |
Medical Examinations |
66.1 |
45.9 |
43.9% |
Disease Screening |
10.1 |
5.9 |
71.1% |
Dental Services |
4.0 |
1.7 |
128.0% |
Other Services |
9.3 |
6.6 |
42.1% |
Total |
89.5 |
60.2 |
48.8% |
|
|
|
|
Medical Examinations: Net revenues for the
quarter were US$66.1 million, representing a 43.9% increase
from US$45.9 million in the same period of the last fiscal
year.
Disease Screening: Net revenues for the
quarter were US$10.1 million, representing a 71.1% increase
from US$5.9 million in the same period of the last fiscal
year. Disease screening services refer to the additional services
requested by individuals under the basic corporate medical
examination programs as a result of individual needs.
Dental Services: Net revenues for the
quarter were US$4.0 million, representing a 128.0% increase
from US$1.7 million in the same period of the last fiscal
year.
Other Services: Net revenues for the
quarter were US$9.3 million, representing a 42.1% increase
from US$6.6 million in the same period of the last fiscal
year.
Cost of RevenuesCost of
revenues for the quarter was US$75.2 million, representing a
28.4% increase from US$58.6 million in the same period of
the last fiscal year.
Gross Profit and Gross
MarginGross profit for the quarter was US$14.3
million, representing an 803.7% increase from US$1.6
million in the same period of the last fiscal year. Gross
margin for the quarter was 16.0%, as compared to 2.6% in the fourth
quarter of the last fiscal year. Gross margin was improved
mainly as a result of improved utilization of existing medical
centers.
Operating ExpensesTotal
operating expenses for the quarter were US$91.0 million,
representing a 150.4% increase from US$36.3 million in
the same period of the last fiscal year.
Selling and marketing expensesSelling and
marketing expenses for the quarter were US$25.1 million,
accounting for 28.0% of total net revenues as compared to 29.7% in
the same period of the last fiscal year.
General and administrative expensesGeneral and
administrative expenses for the quarter were US$65.2 million,
accounting for 72.8% of total net revenues as compared to 29.5% in
the same period of the last fiscal year. Excluding
share-based compensation expenses of US$33.7 million for this
quarter and US$479,000 for the same quarter last year, the General
and administrative expenses for the quarter was US$31.5 million,
accounting for 35.2% as compared to 28.7% in the same period
of the last fiscal year.
Research and development expensesResearch and
development expenses for the quarter were US$0.8 million,
accounting for 0.8% of total net revenues as compared to 1.2% in
the same period of the last fiscal year.
Loss from OperationsLoss from
operations for the quarter was US$76.7 million, representing a
120.7% increase from a loss of US$34.8 million in the
same period of the last fiscal year. Excluding share-based
compensation expenses of US$33.7 million for this quarter and
US$479,000 for the same quarter last year, non-GAAP loss from
operations for the quarter was US$43.1 million as
compared to a loss of US$34.3 million, which reflected an
increase of 25.6%.
Non-GAAP EBITDA LossNon-GAAP
EBITDA loss for the quarter was US$32.0 million, representing a
31.8% increase from a loss of US$24.3million in the same period of
the last fiscal year.
Net
Loss Net loss
attributable to the Company for the quarter was US$67.5
million, representing an increase of 102.7% from a loss of
US$33.3 million in the same period of the last fiscal
year.
Non-GAAP net loss for the quarter
was US$33.8 million, representing an increase of 3.0% from a
loss of US$32.8 million in the same period of the last
fiscal year.
Basic and Diluted Earnings per
ADSBasic and diluted loss per ADS attributable to common
shareholders were US$0.98 and US$0.98, respectively, as
compared to US$0.49 and US$0.49, respectively, in the same quarter
of 2016.
Non-GAAP basic and diluted loss per ADS
attributable to common shareholders were US$0.49 and US$0.49,
respectively, as compared to US$0.48 and US$0.48, respectively, in
the same quarter of 2016.
FISCAL YEAR 2017 ENDED MARCH 31,
2018 UNAUDITED FINANCIAL RESULTS
Net RevenuesNet revenues for fiscal year
2017 were US$563.9 million, representing a 29.4% increase
from US$435.7 million in the same period of the last
fiscal year. On an RMB basis, the revenue growth was 27.8%.
Comparing to March 31, 2017, we have in total developed three new
medical centers. During this period, the Company served
approximately a total of 6.59 million customer visits under both
corporate and individual programs, representing an increase of
17.9% over the fiscal year 2016 ended March 31, 2017.
The table below sets forth a breakdown of net
revenues:
|
|
|
|
(US$ million) |
Fiscal Year 2017Ended
March 31, 2018 |
Fiscal Year 2016Ended
March 31, 2017 |
YoY % Change |
Medical Examinations |
451.0 |
360.4 |
25.2% |
Disease Screening |
55.2 |
35.0 |
58.0% |
Dental Services |
17.3 |
8.6 |
100.3% |
Other Services |
40.4 |
31.7 |
27.2% |
Total |
563.9 |
435.7 |
29.4% |
|
|
|
|
Medical Examinations: Net revenues for the
period were US$451.0 million, representing a 25.2% increase
from US$360.4 million in the same period of the last
fiscal year.
Disease Screening: Net revenues for the
period were US$55.2 million, representing a 58.0% increase
from US$35.0 million in the same period of the last
fiscal year. Disease screening services refer to the additional
services requested by individuals under the basic corporate medical
examination programs as a result of individual needs.
Dental Services: Net revenues for the
period were US$17.3 million, representing a 100.3% increase
from US$8.6 million in the same period of the last fiscal
year.
Other Services: Net revenues for the period
were US$40.4 million, representing a 27.2% increase
from US$31.7 million in the same period of the last
fiscal year.
Cost of RevenuesCost of
revenues for the period was US$325.7 million, representing a
24.2% increase from US$262.1 million in the same period
of the last fiscal year.
Gross Profit and Gross
MarginGross profit for the period was US$238.3
million, representing a 37.3% increase from US$173.6
million in the same period in the last fiscal year. Gross
margin for the period was 42.3%, as compared to 39.8% in the same
period of the last fiscal year. Gross margin was improved as
a result of improved utilization of existing medical centers.
Operating ExpensesTotal
operating expenses for the period were US$225.9 million,
representing a 40.9% increase from US$160.3 million in
the same period of the last fiscal year.
Selling and marketing expensesSelling and
marketing expenses for the period were US$96.6 million,
accounting for 17.1% of total net revenues as compared to 17.1% in
the same period of the last fiscal year.
General and administrative expensesGeneral and
administrative expenses for the period were US$126.3 million,
accounting for 22.4% of total net revenues as compared to 19.0% in
the same period of the last fiscal year. Excluding share-based
compensation expenses of US$34.8 million for this fiscal year and
US$1.94 million for the same period of last fiscal year, the
General and administrative expenses for this fiscal year was
US$91.4 million, accounting for 16.2% as compared to 18.6% in
the same period of the last fiscal year.
Research and development expensesResearch and
development expenses for the period were US$3.1 million,
accounting for 0.5% of total net revenues as compared to 0.7% in
the same period of the last fiscal year.
Income from OperationsIncome
from operations for the period was US$12.4 million,
representing a 7.0% decrease from US$13.3 million in the
same period of the last fiscal year. On an RMB Basis, the increase
was 25.1%. Excluding share-based compensation expenses
of US$34.8 million for this period and US$1.94
million for the same period of the last year, non-GAAP income
from operations for the period was US$47.2 million as compared
to US$15.2 million, which reflected an increase of 209.7%.
Non-GAAP EBITDANon-GAAP EBITDA
for the period was US$89.4 million, representing a 69.8% increase
from US$52.7 million for the same period of the last fiscal
year. Non-GAAP EBITDA margin for the period was 15.8% as
compared to 12.1% for the same period last year.
Net
Income/Loss Net
loss attributable to the Company for the period was US$17.3
million, representing an increase of 53.8% from a loss
of US$11.3 million for the same period of the last fiscal
year.
Non-GAAP net income for the period
was US$17.5 million, representing an increase of 288.1%
from a net loss of US$9.3 million for the same period of
the last fiscal year. Non-GAAP net income margin for the period was
3.1% as compared to a loss of 2.1% for the same period last
year.
Basic and Diluted Earnings per
ADSBasic and diluted loss per ADS attributable to common
shareholders were US$0.25 and US$0.25, respectively, as
compared to a loss of US$0.17 and US$0.17, respectively, in the
fiscal year 2016.
Non-GAAP basic and diluted income per ADS
attributable to common shareholders were US$0.26 and US$0.25,
respectively, as compared to loss of US$0.14 and US$0.14,
respectively, in the fiscal year 2016.
Cash and Cash
EquivalentsAs of March 31, 2018, the Company’s cash and
cash equivalents, restricted cash and term deposit totaled US$62.9
million, as compared to US$77.7 million as of December 31,
2017.
Conference CalliKang’s
management will host a conference call at 8:00 am US
Eastern Time (8:00 pm Beijing/Hong Kong Time) on June 22,
2018, to discuss its quarterly and fiscal year results and recent
business activities.
To participate in the conference call, please
dial the following number five to ten minutes prior to the
scheduled conference call time:
|
|
|
China: |
|
4006-208-038 |
Hong Kong: |
|
800-906-601 |
United States: |
|
186-6519-4004 |
International: |
|
+65
6713-5090 |
Passcode: |
|
2191797 |
|
|
|
The Company will also broadcast a live audio
webcast of the conference call. The webcast will be available at
http://ir.ikang.com/.
Following the earnings conference call, an archive of the call
will be available by dialing:
|
|
|
China: |
|
4006-322-162 |
Hong Kong: |
|
800-963-117 |
United States: |
|
185-5452-5696 |
International: |
|
+61-2-8199-0299 |
Replay Passcode: |
|
2191797 |
Replay Available
Date: |
|
11:00 ET
June 22, 2018 – 09:59 ET June 30, 2018 |
|
|
|
About iKang Healthcare
Group, Inc.iKang Healthcare Group, Inc. is one of the
largest providers in China’s fast-growing private preventive
healthcare space through its nationwide healthcare services
network.
iKang’s nationwide integrated network of
multi-brand self-owned medical centers and third-party facilities,
provides comprehensive and high-quality preventive healthcare
solutions across China, including medical examination, disease
screening, outpatient service and other value-added services.
iKang’s customer base primarily comprises corporate clients, who
contract with iKang to deliver medical examination services to
their employees and clients, and receive these services at
pre-agreed rates. iKang also directly markets its services to
individual customers. In the fiscal year 2017 ended March 31, 2018,
iKang served a total of 6.59 million customer visits under both
corporate and individual programs.
As of June 21, 2018, iKang has a nationwide
network of 112 self-owned medical centers, covering 33 of China’s
most affluent cities: Beijing, Shanghai, Guangzhou, Shenzhen,
Chongqing, Tianjin, Nanjing, Suzhou, Hangzhou, Chengdu, Fuzhou,
Jiangyin, Changzhou, Wuhan, Changsha, Yantai, Yinchuan, Weihai,
Weifang, Shenyang, Xi’an, Wuhu, Guiyang, Ningbo, Foshan, Jinan,
Bijie, Qingdao, Wuxi, Kaili, Mianyang and Zhenjiang, as well as
Hong Kong. iKang has also extended its coverage to over 200 cities
by contracting with over 400 third-party facilities, which include
select independent medical examination centers and hospitals across
all of China’s provinces, creating a nationwide network that allows
iKang to serve its customers in markets where it does not operate
its own medical centers.
Forward-looking StatementsThis
press release contains forward-looking statements. These
statements, including management quotes and business outlook, are
made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as “will,”
"estimate," "project," "predict," "believe," "expect,"
"anticipate," "intend," "potential," "plan," "goal" and similar
statements. iKang may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Such
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. These forward-looking statements
include, but are not limited to, statements about: the Company’s
goals and strategies; its future business development, financial
condition and results of operations; its ability to retain and grow
its customer base and network of medical centers; the growth of,
and trends in, the markets for its services in China; the demand
for and market acceptance of its brand and services; competition in
its industry in China; relevant government policies and regulations
relating to the corporate structure, business and industry;
fluctuations in general economic and business conditions in China.
Further information regarding these and other risks is included in
iKang’s filing with the Securities and Exchange Commission. iKang
undertakes no duty to update any forward-looking statement as a
result of new information, future events or otherwise, except as
required under applicable law.
IR Contact:
iKang Healthcare Group, Inc.Christy XieDirector
of Investor RelationsTel: +86 10 5320
8599Email: ir@ikang.comWebsite: www.ikanggroup.com
FleishmanHillardEmail: ikang@fleishman.com
IKANG HEALTHCARE GROUP,
INC.CONDENSED CONSOLIDATED BALANCE
SHEETS(In thousands of US dollars, except share
data and per share data)(Unaudited)
|
As of |
As of |
|
March 31, |
March 31, |
|
2017 |
2018 |
|
|
|
|
|
ASSETS |
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash
equivalents |
$ |
64,898 |
$ |
62,901 |
Restricted cash |
|
392 |
|
- |
Term deposits |
|
4,359 |
|
- |
Accounts receivable,
net of allowance for doubtful accounts of $14,261 and $23,142
as of |
|
|
|
|
March 31,
2017 and March 31, 2018, respectively |
|
79,576 |
|
149,259 |
Inventories |
|
6,781 |
|
9,261 |
Deferred tax
assets-current |
|
9,635 |
|
13,078 |
Amount due from related
parties |
|
4,538 |
|
4,831 |
Prepaid expenses and
other current assets |
|
49,736 |
|
69,127 |
|
|
|
|
|
Total current
assets |
$ |
219,915 |
$ |
308,457 |
|
|
|
|
|
Property and equipment,
net |
$ |
163,081 |
$ |
173,283 |
Acquired intangible
assets, net |
|
25,852 |
|
21,993 |
Goodwill |
|
107,237 |
|
117,995 |
Long-term
investments |
|
180,758 |
|
196,816 |
Deferred tax
assets-non-current |
|
16,698 |
|
26,302 |
Rental deposit and
other non-current assets |
|
14,950 |
|
20,309 |
|
|
|
|
|
TOTAL ASSETS |
$ |
728,491 |
$ |
865,155 |
|
|
|
|
|
LIABILITIES, MEZZANINE
AND EQUITY |
|
|
|
|
Current
liabilities: |
|
|
|
|
Accounts payable
(including accounts payable of the consolidated VIEs without
recourse to iKang |
|
|
|
|
Healthcare Group, Inc. of $34,637 and $ 43,840 as of March 31, 2017
and March 31, 2018, respectively) |
$ |
39,892 |
$ |
52,800 |
Accrued expenses and
other current liabilities (including accrued expenses and other
current |
|
|
|
|
liabilities of the consolidated VIEs without recourse to iKang
Healthcare Group, Inc. of |
|
|
|
|
$48,910and $63,761 as of March 31, 2017 and March 31, 2018,
respectively) |
|
59,278 |
|
80,278 |
Income tax payable
(including income tax payable of the consolidated VIEs without
recourse to |
|
|
|
|
iKang
Healthcare Group, Inc. of $6,414 and $13,523 as of March 31, 2017
and March 31, 2018, respectively) |
|
11,951 |
|
15,579 |
Deferred revenues
(including deferred revenues of the consolidated VIEs without
recourse to |
|
|
|
|
iKang
Healthcare Group, Inc. of $57,361and $87,388 as of March 31,
2017 and March 31, 2018, respectively) |
|
64,740 |
|
95,422 |
Short term borrowings
(including short term borrowings of the consolidated VIEs
without |
|
|
|
|
recourse
to iKang Healthcare Group, Inc. of $111,299 and $193,884 as of
March 31, 2017 and March 31, 2018, respectively) |
|
111,299 |
|
193,884 |
|
|
|
|
|
Total current
liabilities |
$ |
287,160 |
$ |
437,963 |
|
|
|
|
|
IKANG HEALTHCARE GROUP,
INC.CONDENSED CONSOLIDATED BALANCE SHEETS -
continued(In thousands of US dollars, except share
data and per share data)(Unaudited)
|
As of |
As of |
|
March 31, |
March 31, |
|
2017 |
2018 |
Long-term borrowings
(including long term borrowings of the consolidated VIEs and
VIEs’ |
|
|
|
|
subsidiaries without recourse to iKang Healthcare Group, Inc. of
$101,697 and $31,885 as of |
|
|
|
|
March 31,
2017 and March 31, 2018, respectively) |
|
101,697 |
|
31,885 |
Deferred tax
liabilities-non-current (including deferred tax liabilities
non-current of the |
|
|
|
|
consolidated VIEs without recourse to iKang Healthcare Group, Inc.
of $7,009 and $4,944 as of |
|
|
|
|
March 31,
2017 and March 31, 2018, respectively) |
|
7,229 |
|
5,917 |
|
|
|
|
|
Long term payables |
|
- |
|
9,565 |
|
|
|
|
|
TOTAL LIABILITIES |
$ |
396,086 |
$ |
485,330 |
|
|
|
|
|
Equity: |
|
|
|
|
Total
iKang Healthcare Group, Inc. shareholders' equity |
|
312,437 |
|
355,707 |
Non-controlling interests |
|
19,968 |
|
24,118 |
|
|
|
|
|
TOTAL EQUITY |
$ |
332,405 |
$ |
379,825 |
|
|
|
|
|
TOTAL LIABILITIES AND
EQUITY |
$ |
728,491 |
$ |
865,155 |
|
|
|
|
|
IKANG HEALTHCARE GROUP,
INC.CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS(In thousands of US dollars, except
share data and per share
data)(Unaudited)
|
Three-month periods |
For the years |
|
ended March 31 |
ended March 31 |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
|
|
|
Net revenues |
$ |
60,157 |
|
$ |
89,526 |
|
$ |
435,713 |
|
$ |
563,932 |
|
Cost of revenues |
|
58,575 |
|
|
75,229 |
|
|
262,134 |
|
|
325,656 |
|
|
|
|
|
|
|
|
|
|
Gross profit |
$ |
1,582 |
|
$ |
14,297 |
|
$ |
173,579 |
|
$ |
238,276 |
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
Selling
and marketing expenses |
$ |
17,861 |
|
$ |
25,086 |
|
$ |
74,304 |
|
$ |
96,594 |
|
General
and administrative expenses |
|
17,774 |
|
|
65,170 |
|
|
82,783 |
|
|
126,255 |
|
Research
and development expenses |
|
709 |
|
|
754 |
|
|
3,194 |
|
|
3,055 |
|
|
|
|
|
|
|
|
|
|
Total operating
expenses |
$ |
36,344 |
|
$ |
91,010 |
|
$ |
160,281 |
|
$ |
225,904 |
|
|
|
|
|
|
|
|
|
|
Income/(loss) from
operations |
$ |
(34,762 |
) |
$ |
(76,713 |
) |
$ |
13,298 |
|
$ |
12,372 |
|
Interest expense |
|
3,147 |
|
|
3,900 |
|
|
13,880 |
|
|
20,191 |
|
Interest income |
|
138 |
|
|
77 |
|
|
939 |
|
|
382 |
|
|
|
|
|
|
|
|
|
|
Income/(loss) before
income tax expenses and gain/(loss) from |
|
|
|
|
|
|
|
|
equity
method investments |
$ |
(37,771 |
) |
$ |
(80,536 |
) |
$ |
357 |
|
$ |
(7,437 |
) |
Income tax expenses
(benefits) |
|
(6,178 |
) |
|
(11,609 |
) |
|
3,354 |
|
|
6,791 |
|
Gain/(loss) from equity
method investments |
|
(3,465 |
) |
|
327 |
|
|
(9,547 |
) |
|
(2,448 |
) |
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(35,058 |
) |
$ |
(68,600 |
) |
$ |
(12,544 |
) |
$ |
(16,676 |
) |
Less: Net income/(loss)
attributable to non-controlling interest |
|
(1,784 |
) |
|
(1,147 |
) |
|
(1,293 |
) |
|
633 |
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to iKang Healthcare Group, Inc. |
$ |
(33,274 |
) |
$ |
(67,453 |
) |
$ |
(11,251 |
) |
$ |
(17,309 |
) |
|
|
|
|
|
|
|
|
|
Net loss attributable
to common shareholders |
|
|
|
|
|
|
|
|
of iKang
Healthcare Group, Inc. |
$ |
(33,274 |
) |
$ |
(67,453 |
) |
$ |
(11,251 |
) |
$ |
(17,309 |
) |
|
|
|
|
|
|
|
|
|
Net loss per share
attributable to common shareholders |
|
|
|
|
|
|
|
|
of iKang
Healthcare Group, Inc. |
|
|
|
|
|
|
|
|
Basic and
diluted |
$ |
(0.97 |
) |
$ |
(1.96 |
) |
$ |
(0.33 |
) |
$ |
(0.50 |
) |
|
|
|
|
|
|
|
|
|
Net loss per ADS (one
common share equals to two ADSs) |
|
|
|
|
|
|
|
|
Basic and
diluted |
$ |
(0.49 |
) |
$ |
(0.98 |
) |
$ |
(0.17 |
) |
$ |
(0.25 |
) |
|
|
|
|
|
|
|
|
|
Weighted average shares
used in calculating net loss |
|
|
|
|
|
|
|
|
per
common share |
|
|
|
|
|
|
|
|
Basic |
34,212,527 |
|
34,382,338 |
|
34,060,579 |
|
34,295,160 |
|
Diluted |
|
34,212,527 |
|
|
34,382,338 |
|
|
34,060,579 |
|
|
34,657,445 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IKANG HEALTHCARE GROUP,
INC.RECONCILIATION OF GAAP AND NON-GAAP
RESULTS(In thousands of US dollars, except share
data and per share data)(Unaudited)
|
Three-month periods |
For the years |
|
ended March 31 |
ended March 31 |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
|
|
|
Income/(loss) from
operations |
$ |
(34,762 |
) |
$ |
(76,713 |
) |
$ |
13,298 |
|
$ |
12,372 |
|
Add: |
|
|
|
|
|
|
|
|
Share-based compensation expenses |
|
479 |
|
|
33,660 |
|
|
1,941 |
|
|
34,822 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating
income/(loss) |
$ |
(34,283 |
) |
$ |
(43,053 |
) |
$ |
15,239 |
|
$ |
47,194 |
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to iKang Healthcare Group, Inc. |
$ |
(33,274 |
) |
$ |
(67,453 |
) |
$ |
(11,251 |
) |
$ |
(17,309 |
) |
Add: |
|
|
|
|
|
|
|
|
Share-based compensation expenses |
|
479 |
|
|
33,660 |
|
|
1,941 |
|
|
34,822 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) |
$ |
(32,795 |
) |
$ |
(33,793 |
) |
$ |
(9,310 |
) |
$ |
17,513 |
|
|
|
|
|
|
|
|
|
|
Income/(loss) from
operations |
$ |
(34,762 |
) |
$ |
(76,713 |
) |
$ |
13,298 |
|
$ |
12,372 |
|
Add: |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
9,971 |
|
|
11,021 |
|
|
37,413 |
|
|
42,183 |
|
Share-based compensation expenses |
|
479 |
|
|
33,660 |
|
|
1,941 |
|
|
34,822 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP EBITDA |
$ |
(24,312 |
) |
$ |
(32,032 |
) |
$ |
52,652 |
|
$ |
89,377 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) attributable to common |
|
|
|
|
|
|
|
|
shareholders of iKang Healthcare Group, Inc. |
$ |
(32,795 |
) |
$ |
(33,793 |
) |
$ |
(9,310 |
) |
$ |
17,513 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) per share attributable to common |
|
|
|
|
|
|
|
|
shareholders of iKang Healthcare Group, Inc. |
|
|
|
|
|
|
|
|
Basic and
diluted |
$ |
(0.96 |
) |
$ |
(0.98 |
) |
$ |
(0.27 |
) |
$ |
0.51 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) per ADS (one common share |
|
|
|
|
|
|
|
|
equals to
two ADSs) |
|
|
|
|
|
|
|
|
Basic |
$ |
(0.48 |
) |
$ |
(0.49 |
) |
$ |
(0.14 |
) |
$ |
0.26 |
|
Diluted |
$ |
(0.48 |
) |
$ |
(0.49 |
) |
$ |
(0.14 |
) |
$ |
0.25 |
|
Grafico Azioni IKANG HEALTHCARE GROUP, INC. (NASDAQ:KANG)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni IKANG HEALTHCARE GROUP, INC. (NASDAQ:KANG)
Storico
Da Giu 2023 a Giu 2024