Dehaier Medical Systems, an emerging company in the development, assembly, marketing and sale of medical products including respiratory and oxygen homecare products in China, has reported a net income of $0.53m for the first quarter 2010, compared to $0.35m, an increase of 54%, for the comparable period in 2009.
Dehaier Medical Systems has posted a revenue of $2.64m, an increase of 5%, compared to $2.52m for the comparable period in 2009.
Operating income was $0.64m, an increase of 40.67%, compared to $0.46m for the comparable period in 2009.
Chen Ping, CEO of Dehaier Medical Systems, said: “The first quarter of 2010 has been an exciting period for Dehaier Medical Systems as we prepared for our Initial Public Offering on Nasdaq of 1,500,000 ordinary shares.
“To strengthen our market presence, we plan to open new Customer Experience Centers in China. These centers will give our potential customers an opportunity to experience our products first-hand in an environment that is similar to the environment in which they will use the products, whether that is a home or healthcare facility. We anticipate using a portion of the net proceeds of the IPO to expand our marketing efforts in order to continue to grow our revenues in China and internationally.
“In the near term we will be introducing new products to the market which we plan to promote through a variety of advertising methods.”