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China Medicine Guides Lower, Blaming Economic Crisis

publication date: Oct 10, 2008

China Medicine Corporation said it will miss its 2009 revenue targets because of the global economic crisis. Previously, the company called for an increase of 25% to 35% in its top-line results. The company did not issue a revised forecast. However, China Medicine predicted that its 2009 net income would be better than expectations, which called for a rise of between 20% and 22%. China Medicine said the economic crisis was causing cash flow problems with customers, who are unable to get loans to fund operations. More details...

Stock Symbol: (OTCBB: CHME)



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