Home / Knowledge / News / Textiles / Winner Medical Total net sales revenue grows by 29.83%
Winner Medical Total net sales revenue grows by 29.83%
12
Aug '08
Winner Medical Group Inc reported consolidated financial results for the third quarter of fiscal year 2008, ended June 30, 2008. The Company's results are detailed in its form 10-Q, filed with the United States Securities and Exchange Commission.

Third Quarter 2008 Highlights:
• Total net sales revenue grew 29.83% over the third quarter of fiscal 2007 to $23.07 million
• Gross profit increased by 36.20% over the third quarter of fiscal 2007 to $5.98 million
• Net income increased by 19.63% over the third quarter of fiscal 2007 to $1.74 million
• Net income per share for the third quarter of 2008 was $0.04 per basic and diluted share, compared to $0.03 per basic and diluted share for the third quarter of fiscal 2007

Jianquan Li, Chairman and Chief Executive Officer of Winner Medical, commented, "We are pleased to announce an encouraging quarter, with a nearly 30% increase in revenues and an improved net margin year over year, despite the negative impact of the exchange rate and inflation in China."

"Our medical care, wound care and home care products continued to lead the growth, particularly in the European and US markets. Our performance is indicative of successful progression of our strategy to focus on sales of our higher margin products to the leading international branded company customer segment, as well as our ability to increase prices across the majority of our product lines to partially offset adverse currency movements. Additionally, we also successfully executed on our strategy to continuously expand our margin profile by focusing on up-selling our products to existing clients in Europe," Chairman Li remarked.

Chairman Li continued, "We recorded a gradual sequential improvement in PurCotton product line sales in the third quarter. We believe that PurCotton will be a medium- to long-term growth driver for Winner Medical and will continue our investments in the production and marketing of the product."

Third Quarter 2008 Unaudited Financial Results:
Revenue: Winner Medical reported net sales revenue of $23.07 million, a 29.83% increase over the third quarter of fiscal 2007. Sales in Europe and the United States were particularly strong, with continuous increasing orders from existing clients.

Revenue from Europe was $10.34 million and revenue from the US was $4.44 million for the three months ended June 30, 2008, increases of 55.47% and 41.50%, respectively, compared to the same period last year. Europe and U.S. accounted for 44.82% and 19.26% of total revenue for Winner Medical in the third quarter.

Gross Profit: For the third quarter of fiscal 2008, gross profit was $5.98 million, an increase of 36.20% over $4.39 million in the same period of fiscal 2007. Gross margin was 25.91%, an increase over the 24.70% achieved in the third quarter of fiscal 2007. The gross margin improvement was mainly due to product price increases, unit product cost decrease asa result of better economies of scale, and improved production management, which enable the Company to reduce material waste.

Must ReadView All

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

View of YiwuTex 2016; Courtesy: YiwuTex

Textiles | On 28th Feb 2017

Smart knitting system to grace 18th YiwuTex 2017

The thematic functional knitting machinery zone at the 18th YiwuTex...

Textiles | On 28th Feb 2017

Over 100 exhibitors expected to participate in IATF

Over a 100 exhibitors are expected to showcase their products at the...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search