Sat, Jun 15, 2013 - Page 13 News List

Cowealth increases stock payouts after a profitable period

STRONG OUTLOOK:The company said it remains optimistic regarding its prospects as it witnesses increasing demand from health insurance policies

By Camaron Kao  /  Staff reporter

Cowealth Medical Holding Co (合富), a medical equipment provider to Chinese hospitals, agreed to increase its cash dividend to NT$3 at its shareholders’ meeting yesterday.

The company said its profit last year was better than expected, and its financial position is sound. Thus, it raised its cash dividend from the NT$2.8 previously agreed by its board.

Last year, the company posted a profit of NT$185.28 million (US$6.19 million), or earnings per share (EPS) of NT$3.81, up more than threefold from NT$56.66 million, or EPS of NT$1.17, a year ago, according to the company’s filing to the Taiwan Stock Exchange.

The company said it is highly optimistic about its outlook, eyeing the rising medical demand from health insurance policies in China.

In the first five months of the year, the company reported a 24.53 percent revenue increase to NT$1.02 billion from NT$821.47 million the previous year, the filing said.

Cowealth attributed the revenue increase to a 27.5 percent year-on-year sales increase by its diagnostics facilities and reagents and a 15 percent sales increase of Accuray Inc’s CyberKnife System, a radiosurgery system used for treating tumors.

Last quarter, sales for diagnostics facilities and reagents accounted for 67 percent of the company’s revenue, while sales of CyberKnife accounted for the remaining 33 percent, the firm said.

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