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Winner Medical Reports First Quarter Fiscal 2011 Results

331,785Total assets132,641,926

118,975,995LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Short-term bank loans6,009,912

-Accounts payable7,219,825

5,362,155Accrued payroll and employee benefits2,807,179

2,393,700Customer deposits881,656

687,275Accrued and other liabilities3,142,479

3,057,445Amounts due to affiliated companies50,153

58,338Income taxes payable1,713,575

1,477,212Total current liabilities21,824,779

13,036,125Deferred tax liabilities43,204

42,699Total liabilities21,867,983

13,078,824Commitments and contingencies-

-Stockholders' equity:Common stock, par value $0.001 per share; authorized 247,500,000, issued and outstanding December 31, 2010  -24,130,247 shares; September 30, 2010 - 23,950,740 shares24,131

23,951Additional paid-in capital40,435,620

40,154,494Retained earnings52,058,278

48,730,034Statutory reserves4,585,731

4,585,731Accumulated other comprehensive income 13,556,996

12,302,762Total Winner Medical Group Inc stockholders' equity110,660,756

105,796,972Non-controlling interests 113,187

100,199Total equity110,773,943


 Total liabilities and equity132,641,926

118,975,995Winner Medical Group Inc. Non-GAAP ReconciliationDecember 31,20102009US$US$Net income attributable to Winner Medical Group Inc. (GAAP)3,328,244

3,920,711Share-based compensation 281,306

302,903Adjusted net income attributable to Winner Medical Group Inc. (Non-GAAP)3,609,550

4,223,614Earnings per share (GAAP)- Basic 0.14

0.18- Diluted 0.14

0.17Adjusted earnings per share (Non-GAAP)- Basic 0.15

0.19- Diluted 0.15

0.19Weighted average ordinary shares outstanding- Basic24,116,281

22,363,740- Diluted 24,498,551

22,473,167Selling, general and administrative expenses (GAAP)6,056,065

5,323,721Share-based compensation 281,306

SOURCE Winner Medical Group Inc.
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