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Dehaier Medical Announces Record Second Quarter 2011 Financial Results
Date:8/15/2011

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-2,358Total Current Liabilities 13,881,90510,775,258OTHER LIABILITIESWarrants liability

168,242318,109Total Liabilities14,050,14711,093,367Commitments and ContingencyEquityCommon shares, $0.002731 par value, 18,307,038 shares authorized, 4,510,000 and 4,500,000 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively

12,31712,290Additional paid in capital

13,196,35713,137,085Retained earnings

11,781,9439,838,452Accumulated other comprehensive income

1,985,8301,474,455Total Dehaier Medical Systems Limited shareholders' equity 26,976,44724,462,282Non-controlling interest

1,361,5361,327,291Total equity 28,337,98325,789,573Total liabilities and equity 42,388,13036,882,940The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.DEHAIERMEDICAL SYSTEMS LIMITED AND AFFILIATECONDENSED CONSOLIDATED STATEMENTS OF INCOME ANDCOMPREHENSIVE INCOME(UNAUDITED)For the six months ended
June 30, For the three months ended
June 30, 2011 2010 2011 2010US$US$US$US$Revenue 10,665,4907,471,9517,712,7844,830,862Costs of revenue (6,826,494)(4,577,795)(4,871,247)(2,911,077)Gross profit 3,838,9962,894,1562,841,5371,919,785Service income

156,428181,50671,59588,439Service expenses

(61,372)(68,346)(20,675)(40,325)General and administrative expense

(1,016,167)(520,409)(512,641)(297,024)Selling expense

(694,493)(482,810)(454,792)(314,959)Operating Income 2,223,3922,004,0971,925,0241,355,916Financial expenses (including interest expense of $26,993, $26,728, $10,816 and $7,900 for the six and three months ended June 30, 2011 and 2010, respectively)

(27,472)(54,686)(11,859)(35,360)Change in fair value of warrants liability

149,86718,3941
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SOURCE Dehaier Medical Systems Ltd.
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