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Dehaier Medical Announces First Quarter 2011 Financial Results
Date:5/4/2011

BEIJING, May 4, 2011 /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 in China, today announced its financial results for the first quarter ended March 31, 2011.

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First Quarter 2011 Financial Highlights

  • Revenue increased by 12% year-over-year to $2.95 million, up from $2.64 million in the first quarter of 2010.
  • Gross profit was $1.00 million, or 34% of revenue, compared with $0.97 million, or 37% of revenue in the first quarter of 2010.
  • Operating income and operating margin were $0.30 million and 10%, respectively, compared with $0.65 million and 25%, respectively, in the first quarter of 2010.
  • Net income attributable to the Company was $0.21 million, or $0.04 per diluted share based on 4.7 million weighted average shares outstanding, compared with net income of $0.52 million, or $0.17 per diluted share based on 3.0 million weighted average shares outstanding in the first quarter of 2010.
  • As of March 31, 2011 cash and cash equivalents were $3.37 million, working capital was $23.15 million, compared with $5.92 million and $22.62 million, respectively, as of December 31, 2010.

  • First Quarter 2011 and Recent Business Highlights

  • Signed cooperation agreement for rural healthcare construction project in Hunan and Anhui Provinces, which is sponsored by the China Development Bank.
  • Entered the home oxygen therapy service market in Beijing through a strategic cooperation agreement between Dehaier's wholly owned subsidiary and leading global and regional medical oxygen providers, Taiyo Nippon Sanso Shenwei (Shanghai) and Beijing Orient.
  • Broadened portfolio of
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  • SOURCE Dehaier Medical Systems Ltd.
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