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Dehaier Medical Announces Third Quarter 2010 Financial Results
Date:11/12/2010

2009.
  • Gross margin was 39.9% based on gross profit of $5.2 million, compared with a 39.6% margin in the same period last year.
  • Operating income and operating margin were $3.6 million and 27.9%, respectively, compared to $2.6 million and 27.5%, respectively, in the first nine months of 2009.
  • Earnings per diluted share were $0.77, compared with diluted EPS of $0.69 achieved in the same period a year ago.

  • Mr. Ping Chen, CEO of Dehaier, stated, "We are very pleased with the 52% sales growth we achieved during the third quarter. As the domestic medical equipment market continues to grow, driven by national healthcare reform initiatives, we will capitalize upon our strong partnerships with leading global manufacturers to increase our market share."

    Mr. Chen continued, "Our home healthcare equipment segment is a major strategic focus for Dehaier, and we plan to grow this part of our business by diversifying our product line, aggressively developing our domestic sales network, and expanding into international markets. Building upon our successful market penetration in China, we remain fully committed to becoming a leader in the global respiratory and oxygen homecare market."

    Third Quarter 2010 Results of OperationsRevenuesRevenues for the three months ended September 30, 2010 were $5.5 million as compared to $3.6 million for the three months ended September 30, 2009. The increase of $1.9 million, or 52.1%, was primarily due to the increased acceptance of Dehaier's products among hospitals and other healthcare facilities. The Company also generated revenues from exclusive medical equipment distribution agreements signed during the second quarter with Penlon, HEYER Medical, and Welch Allyn.

    Gross ProfitGross profit for the three months ended September 30, 2010 was $2.3 million, up 52.0% from $1.5 million for the three months ended September 30, 2009. Costs of sales for the three-month period were
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    SOURCE Dehaier Medical Systems Ltd.
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