BEIJING, July 7 /PRNewswire-Asia/ -- Dehaier Medical Systems Ltd. (Nasdaq: DHRM), an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, today reaffirmed the company's earlier earnings estimate of $0.80 EPS for fiscal year 2010.
(Logo: http://www.prnasia.com/sa/2010/04/22/2010042280488.jpg )
At a bell ringing ceremony at Nasdaq, CEO Ping Chen said, "In our S-1 filing, when we went public, we set a target for our company to earn $0.80 per share in 2010. Based on the current tone of business and our preliminary unaudited results from the second quarter, which ended last week, we remain confident in this projection. Due to the nature of our business and its seasonality, the majority of revenues are received in the third and fourth quarters."
The remarks were made as Mr. Chen rang the closing bell at Nasdaq and began a week-long series of meetings with investors and members of the financial community in New York.
Mr. Chen said, "Our business has grown through innovation and the development of our own medical device products as well as selling, distributing and servicing medical products of foreign companies including several American companies. China's medical industry is on the edge of profound change and rapid growth through the increasing introduction of modern medical technology to supplement China's historic reliance on traditional medicine. Our company is already a leader in respiratory and oxygen home care equipment in China and in the years ahead we intend to expand our product line and grow our business in China as well as abroad."
About Dehaier Medical Systems Ltd.
Dehaier Medical Systems is an emerging leader in the development, assembly, marketing and sale of medical products in China, including respiratory and oxygen homecare medical products. The company develops and assembles its own branded products from third party components. The company also distributes products designed and manufactured by other companies including medical devices and respiratory and oxygen homecare products from IMD (Italy), Welch Allyn (USA), Penlon (UK), HEYER (Germany), Timesco (UK), ResMed (Australia) and JMS (Japan). Dehaier's technology is based on two patents, five pending patents and proprietary technology. More information may be found at http://www.chinadhr.com .
Information for investors, including an investment profile about Dehaier is available at http://www.hawkassociates.com/profile/dhrm.cfm . An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors is available at http://www.hawkassociates.com .
Forward-looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
