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Dehaier Medical Announces 2012 First Quarter Financial Results
Date:5/9/2012

BEIJING, May 9, 2012 /PRNewswire-Asia-FirstCall/ -- Dehaier Medical Systems Ltd. (Nasdaq: DHRM) ("Dehaier" or the "Company"), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products, today announced its financial results for its first quarter ended March 31, 2012.

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First Quarter 2012 Financial and Operating Highlights (percentage comparisons are year over year)

  • Revenues of $3.3 million, up 12.3%
  • Gross profit of $1.2 million, up 24.4%; gross margin improved to 37.4% from 33.8%
  • Income from operations of $454,820, an increase of 52.4%
  • Net income attributable to the Company of $126,021, or $0.03 per basic and diluted share, compared to $205,414, or $0.04 per diluted share in the prior year.  Net income included a non-cash change in fair value of warrants liability of $199,508 in the first quarter of 2012.
  • Mr. Ping Chen, Chief Executive Officer of Dehaier Medical, stated, "In the first quarter of 2012, we continued to show strong growth in China and have begun to enter international markets. We continue to grow our medical device distribution platform business, which includes working with a number of larger international manufacturers.  We recently extended our exclusive agreement with Timesco of London Ltd., a progressive surgical and medical company.  Simultaneously, we are developing our own branded product line domestically and abroad.  Within China, our homecare medical products, focused primarily on sleep disorder and respiratory ailments, continued to gain traction among Chinese consumers." 

    Mr. Chen continued, "We are also continuing to diversify our revenues.  In the first quarter of 2012, we focused on implementing state-level government-contracted projects.
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    SOURCE Dehaier Medical Systems Ltd.
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