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Winner Medical Reports First Quarter of Fiscal 2012 Results
Date:2/9/2012

SHENZHEN, China, Feb. 9, 2012 /PRNewswire-Asia/ -- Winner Medical Group Inc. (Nasdaq: WWIN) ("Winner Medical" or the "Company"), a leading China-based exporter and retailer of high-quality medical dressings and consumer products made from 100% cotton, today reported consolidated financial results for the first quarter of fiscal 2012, which ended December 31, 2011.

First Quarter of Fiscal 2012 Financial Highlights

  • Revenues increased by 22.6% to $41.3 million from $33.7 million in the same quarter of fiscal 2011.
  • Gross Profit increased by 8.6% to $10.3 million from $9.5 million in the same quarter of the previous fiscal year.
  • Gross Margin decreased to 24.9% from 28.1% in the same quarter of fiscal 2011.
  • Net Income attributable to Winner Medical decreased by 23.7% to $2.5 million from $3.3 million in the same quarter of the previous fiscal year.
  • Both Basic and Diluted Net Income per Share were $0.10.
  • Mr. Jianquan Li, chairman of the board of directors and chief executive officer of Winner Medical, commented, "During the past quarter, we achieved revenue growth in both our medical and PurCotton businesses. Sales in Europe, our largest market, increased by 45.8% to $13.1 million in the first quarter of fiscal year 2012, despite the lower selling prices of certain products due to a challenging macro environment brought on by the European debt crisis and tightening budgets at hospitals. We are particularly encouraged by increasingly strong domestic sales in China, which reached $12.1 million in the three-month period ended December 31, 2011. As a percentage of revenue, sales in China increased to 29.3%, second only to Europe."

    Mr. Li continued, "For the medical business in China, we have been actively expanding our sales channels by increasing the number of local distributors covering more hos
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    SOURCE Winner Medical Group Inc.
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