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Winner Medical Reports First Quarter Fiscal 2011 Results

p>(53,846)Equity in earnings of 50 percent or less owned entities 81,285

(30,322)Income before income taxes 3,714,483

4,457,915Income taxes(373,686)

(581,887)Net income3,340,797

3,876,028Net loss attributable to non-controlling interests(12,553)

44,684Net income attributable to

Winner Medical Group Inc.3,328,244

3,920,712Comprehensive income:Net income3,340,797

3,876,028Foreign currency translation difference1,254,669

(172,924)Comprehensive income attributable to

non-controlling interests(12,988)

44,735Comprehensive income attributable to

Winner Medical Group Inc.4,582,478

3,747,839Net income attributable to Winner Medical Group Inc. per share - basic 0.14

0.18- diluted0.14

0.17Weighted average common stock outstanding- basic 24,116,281

22,363,675- diluted24,498,551

22,473,167Winner Medical Group Inc.Consolidated Balance SheetsDecember 31,September 30,20102010(Unaudited)(Unaudited)US$US$ASSETSCurrent assets:Cash and cash equivalents10,896,741

14,818,179Restricted bank deposits102,738

285,119Restricted broker margin account 2,837,655

-Held-to-maturity investments1,518,770

1,497,607Accounts receivable, less allowances for doubtful accounts of US$194,240 and US$230,200 at December 31, 2010 and September 30, 2010, respectively19,171,843

15,672,446Amounts due from affiliated companies2,529


15,945,101Prepaid expenses and other receivables10,640,347

6,929,066Income taxes recoverable-

33,974Deferred tax assets393,421

428,741Total current assets67,448,111

55,611,232Property, plant and equipment, net60,934,103

60,110,367Investment in equity investees2,241,068

2,159,784Intangible assets, net121,760

125,079Prepaid expenses and other receivables1,373,149

637,748Deferred tax assets523,735


SOURCE Winner Medical Group Inc.
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