iKang Healthcare Group (KANG) Q4 Revenues Rise 61%, Top Views

iKang Healthcare Group (NASDAQ: KANG) is trading up 4.6% after-hours Monday after the company reported Q4 revenues rose 60.9% yoy to $29.5 million versus the consensus estimate of $23.37 million. Non-GAAP net loss was US$4.7 million, improving 2.6% year-over-year.

Mr. Lee Ligang Zhang, Chairman and Chief Executive Officer of iKang, commented on the results. "Fiscal year 2013 has been a historical year for iKang, topped by our successful listing on the NASDAQ on April 9, 2014. Our public offering is a true testament to our capabilities as the prime mover in China's fast moving private preventive healthcare services market and reinforces our drive to offer a comprehensive range of quality services to a high-end customer base. Our earnings have underlined the successful execution of this business model, with a strong annual operating performance, growing by 70.3%, a substantial quarterly net revenues increase of 60.9%, and powerful growth across all of our major service categories.

"The solid top and bottom line performance for the fourth quarter and fiscal year ended March 31, 2014 show that we are on the cusp of taking the Company in an exciting direction. For the year to come, we aim to focus on network expansion through new centers and acquisition in existing tier one cities and new high-growth tier two cities, invest in advanced medical examination equipment in our self-owned medical centers to provide high-end medical examination for our customers, and continue to promote our iKang Evergreen brand, winning new contracts and expanding our customer base."

Mr. Zhang concluded, "With the recent milestones under our belt, our unswerving commitment to achieving solid growth and our focus to become the best healthcare service provider in China positions us well for future prospects. We believe we will be able to expand our market leadership, continue to grow the business in a healthy direction and build long term shareholder value for years to come."

iKang Healthcare Group sees FY2014 revenue of $283-290 million, versus the consensus of $281.9 million.

For earnings history and earnings-related data on iKang Healthcare Group (KANG) click here.

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