WINNER MEDICAL REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2008 RESULTS
 
SHENZHEN, China, December 9, 2008 -- Winner Medical Group Inc. (OTC BB: WMDG; “Winner Medical”)
, today reported consolidated financial results for the fourth quarter and full fiscal year ended September 30, 2008. The Company’s results are detailed in its form 10-K, filed today with the United States Securities and Exchange Commission.
 
Fourth Quarter 2008 Highlights
·  
Total net sales revenue increased by 17.24% over the fourth quarter of fiscal 2007 to $25.22 million
·  
Gross profit increased by 17.09% over the fourth quarter of fiscal 2007 to $6.69 million
·  
Operating income increased by 35.44% over the fourth quarter of fiscal 2007 to $2.14 million
·  
Net income increased by 7.39% over the fourth quarter of fiscal 2007 to $1.60 million
·  
Net income per share for the fourth quarter of 2008 was $0.03 per basic and diluted share, compared to $0.04 per basic and diluted share for the fourth quarter of fiscal 2007
 
Full Fiscal Year 2008 Highlights
·  
Total net sales revenue increased by 21.66% over the fiscal year 2007 to $85.51 million
·  
Gross profit increased by 23.02% year-over-year to $21.42 million
·  
Operating income increased by 3.45% over the fiscal year of 2007 to $6.02 million
·  
Net income decreased by 9.93% over the fiscal year 2007 to $5.07 million
·  
Net income per share for the fiscal year 2008 was $0.11 per basic and diluted share, compared to $0.13 per basic and diluted share for the fiscal year 2007
 
Jianquan Li, Chairman and Chief Executive Officer of Winner Medical, commented, “2008 was a challenging year for Winner Medical. The appreciation of the RMB and increasing operating costs challenged our profitability and the global economic crisis had a severe impact on the world economy in the fourth fiscal quarter. Despite these negative factors, we are pleased to be able to meet the top end of our revenue expectations, reporting roughly $85.51 million in total sales revenue for the quarter. Our performance was supported by stable and strong growth in the export markets for our traditional medical care, wound care and home care products.
 
“In the fourth quarter, our record sales growth was the result of successful execution of our initiative to boost sales to large customers in the US and Europe. Our ability to enhance production efficiency and implement stringent cost controls also allowed us to stabilize our gross margin and profit, despite the negative effect of foreign currency exchange rate fluctuations and rising labor costs,” he continued.
 
“Our PurCotton products performed solidly, with total sales of $1.36 million in the fiscal year of 2008. We will further strengthen marketing efforts for PurCotton and we believe the growing sales of this new product will be a complementary growth driver to our traditional products over the mid- to long-term.
 
“We believe the year ahead will inevitably be even more challenging, as the global economic outlook has worsened and we expect these conditions to continue. In view of the difficult business environment, we have set four strategic priorities to sustain our revenue, profitability and balance sheet. First, we will implement even more stringent cost control measures to optimize production efficiency and reduce controllable expenses, such as facilities expenses, by 10%. Second, we will invest to develop domestic market in China. Third, we will continue our ongoing strategy to deepen our relationships with our major US, Europe and Japanese customers to maintain stable order growth. Fourth, we will maintain our solid cash position.
 

The following information was filed by Winner Medical Group Inc on Tuesday, December 9, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Winner Medical Group Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Winner Medical Group Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account