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Winner Medical reports 15.1% revenue growth

08
Dec '09
Winner Medical Group Inc. a manufacturer of medical dressings, medical disposables and non-woven PurCotton materials for the medical and consumer products industries, today reported consolidated financial results for the fourth quarter and full fiscal year ended September 30, 2009.

Fourth Quarter 2009 Highlights

• Revenue increased by 9.7% over the Q4 FY08 to $27.7 million
• Gross profit increased by 24.9% over Q4 FY08 to $8.4 million
• Operating income increased by 80.2% over Q4 FY08 to $3.9 million
• Net income increased by 84.4% over Q4 FY08 to $3.0 million
• Net income per diluted share of $0.13 vs. $0.07 in Q4 of fiscal 2008, representing an 85.7% increase

Full Fiscal Year 2009 Highlights

• Revenue increased by 15.1% year-over-year to $98.4 million
• Gross profit increased 30.5% YOY to $27.94 million
• Operating income increased 89.8% YOY to $11.4 million
• Net income increased 80.2% YOY to $9.1 million
• Net income per diluted share was $0.41 vs. $0.23 in 2008

Jianquan Li, Chairman and Chief Executive Officer of Winner Medical, commented, "We were pleased with our results despite a challenging global environment, as we were able to grow our business and enhance our production efficiencies while implementing stringent cost controls, thus enabling us to improve our margins and profitability. We were able to meet our revenue goals through strong organic growth in the Chinese market and the successful launch of PurCotton, as well as maintaining market share for our traditional export products."

"For fiscal 2010, we have established four strategic priorities to drive revenue and earnings growth while sustaining our balance sheet. First, we will further expand PurCotton's production capacity, while developing our own line of finished PurCotton products, including medical and consumer products, such as operating room towels, sponges and surgical gowns, wipes, baby products, feminine products and other hygiene products. Second, by leveraging the China Medical Reform, we plan to penetrate into the domestic market through hospitals, local distributors, and over-the-counter drugstore chains. Third, we will deepen our relationships with our major US, European and Japanese customers while rationalizing our product portfolio to maintain stable order growth. Fourth, we will implement further stringent cost control measures to optimize production efficiency and reduce controllable expenses," Mr. Li concluded.

Click here for more details.

Winner Medical Group Inc


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