Revenue up by 16.9% YOY to $115 million, Winner Medical

09 Dec '10

4 min read

Selling, General and Administrative Expenses
Selling, general and administrative expenses increased by 13.7% to $5.6 million in the fourth quarter of fiscal 2010, from $5.0 million in the fourth quarter of fiscal 2009. This increase was mainly due to the increase in transportation fees, growth in its sales force and expenses related to the opening of PurCotton retail stores.

Income Taxes
The income tax provision for the three months ended September 30, 2010 was $0.1 million, compared to $0.9 million for the same period in 2009. This decrease was mainly due to an accrued tax provision of $0.6 million in the fourth quarter of 2009 and a tax loss of $0.2 million in the fourth quarter of 2010 for Shenzhen PurCotton Technology Co., Ltd., a wholly-owned subsidiary which was established on December 7, 2009.

Net Income Attributable to Winner Medical Group Inc
Net income attributable to Winner Medical Group Inc. increased by 5.9% to $3.1 million, or $0.13 per basic and diluted share, compared to net income of $2.9 million, or $0.13 per basic and diluted share, for the fourth quarter of last fiscal year. The slightly increase was mainly attributable to increases in selling prices in conjunction with rising cotton prices. At the same time, the Company adopted lean production management to reduce manufacturing unit cost and improve production efficiency.

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Winner Medical Group Inc

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