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Dehaier Medical Announces 2012 Second Quarter and Six Month Financial Results
Date:8/13/2012

BEIJING, Aug. 13, 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 second quarter and six months ended June 30, 2012.

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Comments from ManagementMr. Ping Chen, Chief Executive Officer of Dehaier Medical, stated, "Throughout the first half of 2012, we continued to focus on diversifying our revenues.  While we have continued to build on our medical device sales and distribution foundation, we have also devoted sales resources to growing our proprietary respiratory and oxygen homecare products, explored international expansion possibilities and put more energy into developing and researching homecare products and protecting our intellectual property. Throughout this process we have continued to report strong operating profits.  We improved our gross and operating margins and continue to leverage a strong balance sheet with minimal long-term debt.  We believe that our business will continue to grow at a healthy rate in the long term as we strengthen our medical device distribution network; increase the market recognition and demand for our proprietary products; research, develop and begin to sell new products; and ramp up our international expansion."

Operating Highlights

  • In April 2012, Dehaier renewed its strategic cooperation agreement with Timesco of London Ltd ("Timesco"). The agreement appointed Dehaier as the exclusive distributor for Timesco's CXL and Eclipse series laryngoscope products in mainland China for three years.
  • In May 2012, the Company extended its exclusive distribution authorization with INTERMEDICAL ("IMD"), to distribute IMD's RADIUS C-arm X-r
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