Winner's PurCotton biz on track for strong profit growth
11 Feb '10
2 min read
Winner Medical Group Inc. a manufacturer of medical dressings, medical disposables and non-woven PurCotton materials for the medical and consumer products industries, reported that fiscal first quarter 2010 revenue increased 15.8% to $29.8 million and diluted earnings per share increased 142.9% to $0.17.
Winner Medical delivered strong first-quarter results as our operating numbers were enhanced by accelerating growth in the Chinese market for our Winner brand and finished medical products, which were further supported by sequential increases by PurCotton jumbo roll sales," said Jianquan Li, chairman and Chief Executive Officer of Winner Medical. "Our business is performing well and our domestic and PurCotton business is on track for strong profit growth this quarter."
"Looking forward, we will continue to reshape and strengthen our portfolio, by expanding medical products sales into the Chinese marketplace through direct sales to hospitals, distributors and chain drugstores, and launching PurCotton brand products and opening more PurCotton trial stores. We expect that these products and sales to the Chinese marketplace will fuel our growth in an increasingly competitive marketplace. We also expect to drive growth this year through key strategic investments funded by our continued strong cash flow," Mr. Li said.