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

28,021) (37,268) General and administrative expense (223,385) (337,566) Selling expense (167,851) (200,429) Operating income 648,181 460,768 Financial expense (including interest expense of $ 18,828 and $28,365) (19,326) (28,956) Income before provision for income taxes and non-controlling interest 628,855 431,812 Provision for income taxes (94,883) (80,612) Net income 533,972 351,200 Non-controlling interest in income (13,761) (13,344) Net income attributable to Dehaier Medical Systems Limited $520,211 $337,856 Earnings per share -Basic 0.17 0.18 -Diluted 0.17 0.11 Weighted average number of common shares used in computation -Basic 3,000,000 1,891,930 -Diluted 3,000,000 3,000,000 DEHAIER MEDICAL SYSTEMS LIMITED AND AFFILIATE CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) For the three months ended March 31, 2010 2009 US$ US$ Operating Activities Net income $533,972 $351,200 Adjustments to reconcile net income to net cash provided by operating activities Depreciation and amortization 85,750 69,758 Provision for inventory obsolescence
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SOURCE Dehaier Medical Systems Ltd.
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