SHENZHEN, China, Nov. 12, 2010 /PRNewswire -Asia/ — Winner
Medical Group Inc. (Nasdaq:
WWIN; “Winner Medical”), a leading manufacturer of medical
dressings, medical disposables and non-woven PurCotton®
materials for the medical and consumer products industries in
China, today announced preliminary, unaudited financial results for
its fiscal fourth quarter and full year ended September 30, 2010.
2010 fiscal fourth quarter and year ended results are unaudited and
subject to change.
Fiscal Fourth Quarter 2010 Results (Amounts in
millions)Q4 FY2010Q4 FY2009% ChangeNet Sales
$28.2
$27.7
2.1%Cost of Sales
$19.4
$19.3
0.5%Gross Profit
$8.8
$8.4
5.8%Gross Margin
31.3%
30.2%
1.1%Net Income Attributable to Winner Medical Group
Inc.
$3.1
$2.9
5.7%Fiscal 2010 Results “We maintained stable gross margins
and delivered modest fourth-quarter operating results
despite pressure from the European debt crisis, a
parabolic increase in raw material prices, and a rising RMB,
all of which occurred simultaneously,” said Jianquan Li, Chairman
and Chief Executive Officer of Winner Medical. “During the past
year we have made significant progress on several of our growth
initiatives which are evidenced in our full year results, which
include stable gross margins. We are confident the actions we have
taken will yield further operating benefits during 2011. Our brand
and competitive position continues to improve as rising commodity
costs drive smaller competitors out of business. As we raise prices
and gain additional market share by expanding distribution in China
and abroad, we are confident in achieving our revenue growth to our
target rate of 20%-30% per annum.”
Medical Business Update
Preliminary net sales to Europe grew approximat
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