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Dehaier Medical Announces Fourth Quarter and Full-Year 2010 Financial Results
Date:3/7/2011

$1.1 million in 2009.
  • Gross profit increased by 57% year-over-year to $7.6 million, or 38.9% of revenue, up from $4.9 million, or 39.3% of revenue in 2009.
  • Operating income and operating margin were $5.1 million and 26.2%, compared with $3.4 million and 27.1% in 2009, respectively.
  • Net income attributable to the Company increased 70% to $4.5 million, or $1.09 per diluted share based on 4.2 million weighted average shares outstanding, compared with net income of $2.7 million, or $0.89 per diluted share based on 3.0 million weighted average shares outstanding in 2009.

  • 2010 and Business Highlights

  • Completed initial public offering of 1.5 million shares of common stock at $8.00 per share and commenced trading on NASDAQ in April 2010.
  • Secured $2.0 million medical device distribution contract for new rural healthcare construction project supported by China Development Bank Corp.
  • Enhanced third party distributed product offering through exclusive distribution agreements with Welch Allyn and HEYER Medical.
  • Increased marketing to support growth of high margin homecare medical products business with the opening of 12 Customer Experience Centers (CECs).

  • "2010 was a record year for Dehaier. We achieved strong growth across both our branded and third party medical devices, as well as our homecare products businesses, while positioning the Company for success in 2011 and beyond," said Mr. Ping Chen, CEO of Dehaier. "Key to our growth in 2010 was the continued advancement of our homecare products business, in which we achieved triple-digit gains for both the fourth quarter and full year. While the domestic market presents a compelling growth opportunity, international expansion is a critical element of our longer-term strategy and we are making meaningful progress in this regard, with several of our respiratory therapy homecare products currently pending regulatory approval in the United States
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    SOURCE Dehaier Medical Systems Ltd.
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