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Winner Medical Reports First Quarter Fiscal 2011 Results
Date:2/10/2011

SHENZHEN, China, Feb. 10, 2011 /PRNewswire-Asia/ -- Winner Medical Group Inc. (Nasdaq: WWIN; "Winner Medical"), a leading manufacturer of medical dressings, medical disposables and non-woven fabric made from 100% natural PurCotton® products in China, today reported consolidated financial results for the first quarter ended December 31, 2010.

Fiscal First Quarter 2011 Results (in millions of USD, except per share data)Q1 FY2011

Q4 FY2010

% Change

Q1 FY2010

% ChangeNet Sales

$33.7

$28.2

19.35%

$29.8

13.2%Cost of Sales

$24.2

$19.4

24.74%

$20.4

19.0%Gross Profit

$9.5

$8.8

7.3%

$9.4

0.5%Gross Margin

28.1%

31.3%

(10.1)%

31.7%

(11.2)%Net Income Attributable to Winner Medical Group Inc.

$3.3

$3.1

6.7%

$3.9

(15.1)%EPS (Diluted)

$0.14

$0.13

7.7%

$0.17

(17.6)%Mr. Jianquan Li, Chairman and Chief Executive Officer of Winner Medical, commented, "During the first quarter of fiscal year 2011, cotton prices continued to increase and these raw material price increases were shifted to our customers. Early in the quarter, some customers chose to delay purchases and reduced their inventory while monitoring cotton price trends. Starting in November, having depleted the majority of their inventory, our customers increased their purchases again, resulting in December sales being one of the strongest months that Winner Medical has recorded in recent years. I believe the medical dressings and medical disposables markets have now largely accepted the cotton price increases from last year and we expect positive margin and sales growth for the remainder of 2011."  

First Quarter 2011 Unaudited Financial Results Winner Medical reported net sales of
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SOURCE Winner Medical Group Inc.
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