Dehaier Medical Systems Ltd. (DHRM) Shares Surge on Solid Q4 Results
Dehaier Medical Systems Ltd., an emerging leader in the development, assembly, marketing and sale of medical devices and homecare medical products in China, today posted its financial results for the fourth quarter and 12 months ended December 31, 2010, sending shares surging 12.36% to $6.18. Revenue for the quarter increased 126 percent year-over-year to $6.7 million, up from $2.9 million in the fourth quarter of 2009. The company attributes the increase to growth in its homecare products and self-branded and third-party medical devices. Gross profit increased 119 percent year-over-year to $2.5 million, accounting for 36.9 percent of revenue, up from…