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Dehaier Medical Announces Third Quarter 2010 Financial Results

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


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



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


SOURCE Dehaier Medical Systems Ltd.
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