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

-- 52,917 Provision for warranty -- 18,534 Changes in assets and liabilities: Increase in accounts receivable (247,601) (1,247,041) Decrease in prepayments and other current assets 298,932 633,009 Increase in other receivables (125,708) (100,682) Increase in inventory (78,717) (106,480) Increase in tax receivable (184,590) (152,567) (Decrease) increase in accounts payable (29,537) 293,340 (Decrease) increase in advances from customers (9,298) 48,822 Increase in accrued expenses and other current liabilities 38,611 2,890 Increase in tax payable 382,174 331,251 Net cash provided by operating activities $663,988 $194,951 Investing Activities Capital expenditures and other additions $(4,578) $(4,410) Advance to related parties (3,861) (969) Net cash used in investing activities $(8,439) $(5,379) Financing Activities Repayment of Bank loan $(585,764) $(295,060) Net cash used in financing activities $(585,764) $(295,060) Effect of exchange rate fluctuations on cash and cash equivalents 1,427 (8,830) Net increase (decrease) in cash and cash equivalents 71,212 (114,318) Cash and cash equivalents at beginning of period 1,151,721 282,603 Cash and cash equivalents at end of period
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SOURCE Dehaier Medical Systems Ltd.
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