Home / Knowledge / News / Apparel/Garments / Winner Medical sees healthy growth in Q2
Winner Medical sees healthy growth in Q2
14
May '09
Winner Medical Group Inc reported unaudited financial results for the second quarter ended March 31, 2009. The Company's results are detailed in its form 10-Q, filed today with the United States Securities and Exchange Commission.

Second Quarter 2009 Highlights
• Total net sales revenue increased by 15.31% over the second quarter of fiscal 2008 to $20.63 million
• Gross profit increased by 46.81% over the second quarter of fiscal 2008 to $5.80 million
• Operating income increased by 356.30% over the second quarter of fiscal 2008 to $2.10 million
• Net income increased by 188.42% over the second quarter of fiscal 2008 to $1.64 million
• Net income per share for the second quarter of 2009 was $0.04 per basic and diluted share, compared to $0.01 per basic and diluted share for the second quarter of fiscal 2008

Jianquan Li, Chairman and Chief Executive Officer of Winner Medical, commented, "We are pleased to announce a strong quarter of increases in sales and net profit. The sales growth was driven by increased orders of our products, particularly from customers in the US. We also improved gross margin and net margin in the second quarter through implementing cost control measures and equipment technical improvements that optimize production efficiency."

Mr. Li continued, "However, looking into the future, the current economic crisis has created great uncertainties on the future market demand and the price level of our products. Thus, considering the related risks, we think the second half of fiscal year 2009 will be tough, and we decide to lower our fiscal year 2009 guidance to an estimate of 15% to 18% increase in net sales from last fiscal year."

Second Quarter 2009 Unaudited Financial Results
Revenue: Winner Medical reported net sales revenue of $20.63 million, a 15.31% increase over the second quarter of fiscal 2008. Healthy revenue growth was mainly due to strong demand, particularly in North and South America; revenue from North and South America was approximately $4.03 million for the second quarter of fiscal 2009, an increase of 158.37% compared to the same period in 2008. The North and South American market accounted for 19.53% of total revenue for the quarter ended March 31, 2009.

Gross Profit: For the second quarter of fiscal 2009, gross profit was $5.80 million, an increase of 46.81% over $3.95 million in the same period of fiscal 2008. Gross margin was 28.13%, versus 22.09% achieved in the second quarter of fiscal 2008.

The increase in gross margin was mainly due to the unit product cost decrease as a result of better economies of scale; the improvement of the Company's cost control, equipment technical improvement and lean production management that increased production efficiency and reduced production waste; and the decrease of material purchasing price as the Company combined individual purchases by each subsidiary into larger scale orders to create more bargaining power.


Must ReadView All

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search