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Winner Medical Reports Full Fiscal Year 2011 Results
Date:11/30/2011

al year. As a percentage of total sales, sales in China increased to 23.7% in fiscal year 2011 compared to 19.4% in fiscal year 2010.

Revenue By ProductsSales generated from medical products increased by 24.7% to $130.8 million in fiscal year 2011 from $104.9 million in fiscal year 2010. The increase was mainly attributable to steady-to-robust sales in Europe, North and South America and China. As a percentage of total sales, sales from medical products were 87.3% in fiscal year 2011, compared to 91.2% in the prior fiscal year.

Sales generated from PurCotton® products increased by 88.6% to $19.1 million in fiscal year 2011 from $10.1 million in fiscal year 2010. As a percentage of total sales, sales from PurCotton® products were 12.7% in fiscal year 2011, compared to 8.8% in fiscal year 2010.

Breaking down revenue according to products and distribution channels:

  • Material supplies of PurCotton® jumbo rolls totalled $14.1 million, an increase of 52.5% as compared to $9.3 million in fiscal year 2010. The significant increase was due to higher demand  from China-based existing and new customers.

  • Retail sales of PurCotton® consumer products totalled $5.0 million compared to $0.9 million in fiscal year 2010. The increase was driven by the opening of more retail stores and improved sales in the Company's existing stores and online sales platforms. As of September 30, 2011, the Company operated 41 retail stores in China, as compared to 22 in the same period of last year.

  • Cost of sales increased by 35.5% to $109.0 million in fiscal year 2011 from $80.5 million in the prior fiscal year. The increase was mainly attributable to a higher average purchasing price of cotton, the Company's primary raw material, as well as a larger volume of cotton usage due to increased orders during the reporting period as compared with fiscal year 2010. Cotton's average after-tax purch
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    SOURCE Winner Medical Group Inc.
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