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

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

999Inventories21,884,067

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


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SOURCE Winner Medical Group Inc.
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