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

7021,217,145Provision for income tax

(543,749)(410,162)(245,569)(183,712)Net income 3,081,7582,110,2781,412,1331,033,433Non-Controlling interest in income

(14,561)(38,502)(4,570)(14,782)Net income attributable to Dehaier Medical Systems Limited 3,067,1972,071,7761,407,5631,018,651Earnings per share-Basic

0.791.100.310.54-Diluted

0.770.690.300.34Weighted average number of common shares used in computation-Basic

3,887,8681,891,9304,500,0001,891,930-Diluted

3,981,0943,000,0004,657,5003,000,000DEHAIERMEDICAL SYSTEMS LIMITED AND AFFILIATECONDENSED CONSOLIDATED BALANCE SHEETS(UNAUDITED) September 30, December 31,20102009US$US$ASSETSCURRENT ASSETS:Cash and cash equivalents

4,964,4501,151,721Accounts receivable-less allowance for doubtful accounts of $ 74,179 and $102,939

9,074,8416,891,291Other receivables

3,107,3511,499,111Prepayment and other current assets

6,124,9331,691,387Inventories, net

4,301,0252,326,126Total Current Assets 27,572,60013,559,636Property and equipment, net

3,541,7632,862,625Tax receivable

2,450,6811,362,372Total assets 33,565,04417,784,633LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES:Short-term borrowings

1,495,0001,464,770Accounts payable  

37,09593,770Advances from customers

436,625174,253Accrued expenses and other current liabilities

256,126336,412Tax payable

6,998,8074,993,387Warranty obligation

182,444178,755Warrants liability

155,194-Due to officer

-3,861Total Current Liabilities 9,561,2917,245,208Commitments and contingency  Shareholders' equity Common stock, $0.002731 par value, 18,307,038 shares authorized, 4,500,000 and 3,000,000 shares issued and outstanding at September 30, 2010 and December 31, 2009, respectively

12,2908,193Additional paid in capital

13,137,0853,196,974Ret
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SOURCE Dehaier Medical Systems Ltd.
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