Winner Medical Group, reported that its consolidated fourth quarter net sales in fiscal 2007 increased 29.27% to $21.51 million from $16.64 million in the fourth quarter of fiscal 2006.
The company said consolidated fourth quarter gross profit increased 7.74% to $5.71 million from $5.30 million in the fourth quarter of fiscal 2006. The increase was mainly attributed to the increased sales orders from customers with large orders, especially from European customers.
The company’s net income for the fourth quarter increased 15.5% to $1.49 million, or $0.033 per basic and diluted share, compared to net income of $1.29 million, or $0.030 per basic and diluted share, for the fourth quarter last year.
Jianquan Li, Winner Medical's chairman and chief executive officer, commented, "Increases in sales and profit result primarily from increased orders from our large clients, especially in Europe. At the beginning of fiscal year 2007, we began gradually giving up certain lower margin products, and shifting our resources and services to larger clients. We faced some difficulties earlier in the year while implementing this strategy, but our operating results improved during the second half the year, and we believe our shift in strategy towards large clients and higher margin products will drive future expansion.”
"Looking forward to fiscal year 2008, Winner Medical plans to continue to leverage our innovative technology and introduce new PurCotton(TM) products into the market. We currently have installed three manufacture lines to produce PurCotton products, also, the quality validation and marketing with certain customers will be completed; thus we are expecting to see increased sales from the PurCottonTM products in the coming year,” said Li.
"In fiscal year 2008, we also plan to leverage the market expansion in China, US, and Europe," added Li.
Winner Medical is primarily engaged in the development, manufacturing and distribution of high- quality cotton disposable medical dressings and disposable products. Winner Medical products are manufactured in China and sold domestically and abroad.