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Dehaier Medical Systems Announces First Quarter Net Income Up 54%
Date:5/14/2010

cash balance on March 31, 2010 was approximately $1.22 million. On March 31, 2010 Dehaier had short-term debt of $879,006 consisting of a final loan payment to a bank, which is due on May 20, 2010. The company had no long-term debt. Working capital was $6.75 million. Stockholders' equity totaled $11.08 million. The current ratio was 1.96, up from 1.87 at December 31, 2009.

Chen Ping, Dehaier's Chief Executive Officer, said, "The first quarter of 2010 has been an exciting period for Dehaier Medical Systems as we prepared for our Initial Public Offering on Nasdaq of 1,500,000 ordinary shares. The IPO closed on April 22nd and the management team has been invited to ring the bell at Nasdaq in early July. We are looking forward to visiting New York and meeting with analysts and portfolio managers to tell the American investment community about Dehaier.

"For the three months ended March 31, 2010, our total revenues increased by approximately 5% to $2.64 million from $2.52 million for the first three months in the prior year. Many of our end users such as hospitals became repeat customers when they needed new medical equipment, demonstrating the increased acceptance of our products among hospitals and other healthcare facilities.

"To strengthen our market presence, we plan to open new Customer Experience Centers in China. These centers will give our potential customers an opportunity to experience our products firs
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SOURCE Dehaier Medical Systems Ltd.
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