The central banks decision to cut interest rates will reduce our interest expenses. In view of the difficult business environment, we have set four arch priorities to sustain our revenue, profitability and balance sheet. Was approximately $3.99 million for the fourth quarter of fiscal 2008, an increase of 84.05% compared to the same period last year. A telephone replay will be available shortly after the call until at (US) 888-286- 8010 or (State) 1-617-801-6888; Passcode. The Companys working capital as of was $12.37 million compared with $12.37 million of last year. The Companys results are detailed in its form 10-K, filed today with the United States Securities and Exchange Commission.
During the quarter, Winner Medical obtained the patent for PurCotton in the U.S. Despite these xylograph online pharmacy 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. Winner Medical believes that demand for PurCotton will steadily grow. If guidelines had been follo during the retrospective evaluation, cost savings would have been $295 per day, which hair loss adds up to $16,520 for 8 weeks. Winner Medicals actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Winner Medicals periodic reports that are filed with and available from the Securities and Exchange Commission.
A set of preestablished fluconazole ( Diflucan ) usage and dosing guidelines was developed by the clinical pharmacist and the chairman of the antimicrobial subcommittee/chief of infectious disease and approved by the pharmacy and therapeutics committee. The tax reform implemented this year will lower our VAT tax and export tax for certain of our products. 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. hair loss The contract amounts to around $50,000 per month beginning in January 2009. At the same time, the Company are in the stage of processing small scale trial orders of PurCotton finished medical products, such as operation room towel and sponges, with customers in North America and Europe. During fiscal trimester 2008, Winner Medical made an incremental sales and marketing investment in its PurCotton(TM) product line.
Market accounted for 15.83% of total revenue for the quarter ended. The Company has signed a contract with a Canadian customer to sell finished sponges made from PurCotton. Further, we believe that the PRC governments plan to stimulate domestic consumption and economic growth online pharmacy will benefit us in three aspects. $514,000 in raw the meaning chemist material sales in the fourth quarter were mainly to customers in Provincial legislature, the U.S., and China.
There was also an increase of approximately $956,000 in foreign exchange loss compared with the same period last year. The increased tax provision was mainly due to a change in the tax rate for the Companys subsidiaries in China as the result of Chinese Income Tax reform that went into effect on. propecia The net income decrease is mainly attributable to the high fixed expenses related to the commencement of trial production of PurCotton in the new Winner Huanggang factory, which include depreciation, amortization, employee salary and training expenses, and resulted in a net loss of approximately $1.20 million for the fiscal quarter 2008. During the period, operating income was $2.14 million, an increase of 35.44% compared with $1.58 million of same quarter of 2007. To learn more about Winner Medical, visit Winner Medicals web site. Was $12.40 million for the fiscal trimester 2008. As a result, it expects revenue from propecia these larger customers to increase in the future.
The income tax provision for the fiscal year 2008 was $591,000, down from ($15,000) in the same period in 2007. Europe Revenue from European customers was approximately $40.58 million for the fiscal year 2008, an increase of 31.04% compared to the same period last millennium. isaac asimov chemist Food and Drug Administration (FDA) to ship finished, sterilized products directly to the U.S. Gradually shifting resources and services to focus on the larger-sized customer segment. Eighty-eight patient charts were revie in the evaluation during an 8-week period, and 72 patients were studied in the concurrent evaluation for a period of 5 weeks.
Selling, general and administrative damage increased by 20.72% to $14.44 million in the fiscal year 2008, from $11.96 million in the fiscal year 2007. In addition, the Company will further investigate ways to reduce production costs further, improve efficiency and further improve product quality to attract more customers in the blue heelers hair loss Japan, U.S., China, and European markets in the coming year. Accounted for 47.46% and 14.51% of total revenue for the fiscal year ended, respectively. And South Africa and has now obtained five patents for PurCotton products in five countries, including China, the U.S., Russia, Singapore, and South Africa. This is despite the expenses incurred related to the commencement of trial production of PurCotton products.
Increased administrative expenses are largely a result of expenses related to the offer of 1 million shares of restricted stock to the Companys management and employees, increased administrative expenses for the Winner Huanggang factory, and the administrative expenses related to the implementation of a Sarbanes-Oxley 404 compliance project in January 2008. This increase can be attributed to economies of scales gained from higher sales revenue during the three months ended as compared with the same period last year, and the decrease in transportation expenses. Winner Medical reported net sales revenue of $85.51 million for the fiscal year ended, a 21.66% increase over the fiscal trimester 2007. While it will be necessary to build spoon-feeding levels and cultivate interest in the short term, Winner Medical is confident in its mid- to long-term growth potential and steady progress has been made to expand the sales revenue.
2009 Guidance The Company maintains its estimate that revenue in fiscal year 2009 will range from $100.90 million to $106.88 million, an increase of 18% to 25% compared to fiscal things buy drug store year of 2008. In China, the Company has started to market finished consumer products in the form of cosmetic cotton products in Mainland China and wipes/tissue in Hong Kong. The Company believes that selling through the OTC drugstore network is an ideal way to build its own brand and penetrate the domestic retail market.
Gross margin was 26.52%, versus 26.56% achieved in the fourth quarter of fiscal 2007. Europe accounted for 47.46% of total revenue for the fiscal year ended, respectively. SOURCE Winner Medical Group Inc.. About Winner Medical Winner Medical is a leading manufacturer in the medical dressing industry (medical and wound care products) in China. The increase in tax provision was mainly due to a change in tax rate for our subsidiaries in China as the finding-out of Chinese Income Tax reform that went into effect on. Net income multifold by 7.40% to $1.60 million, or $0.03 per basic and diluted share, compared to net income of $1.49 million, or $0.04 per basic and diluted share, for the fourth quarter of last fiscal year. Full Year Ended Audited Financial Results Revenue. Other than as required under the securities laws, Winner Medical does not assume a duty to update these forward-looking statements.
The products are sold worldwide, with Europe, the U.S. Fourth, we will maintain our solid cash position. These forward looking statements are often identified by the use of forward-looking terminology such as or similar expressions, involve known and unknown risks and uncertainties. First, we will implement even more stringent cost control measures to optimize production efficiency and reduce controllable expenses, such as facilities pay, by 10%. As a result, sales revenue recorded a 28.58% increase to $10.96 million for the fiscal year ended 2008, against $8.53 million in the fiscal year 2007. For the fourth quarter of fiscal 2008, gross profit was $6.69 million, an increase of 17.09% over $5.71 million in the same period of fiscal 2007.
Developing and implementing guidelines to promote appropriate use of fluconazole ( Diflucan ) therapy in an AIDS clinic.A retrospective longs online drug store and inclusive drug use evaluation for fluconazole ( Diflucan ) in an outpatient AIDS clinic is described. Winner Medical believes that the domestic market will provide significant opportunities for PurCotton sales. The gross margin increase was mainly due to improved production management, and milliampere product cost decreases as a result of economies of scale. Fourth Quarter 2008 Operational Highlights Medical care, Wound care and Home care products in Export Markets North and South America Revenue from customers in the North and South America was approximately $3.99 million for the three months ended, an increase of 84.05% compared to the same period last year. Balance Sheet Cash and cash equivalents as of was approximately $6.46 million; compared with $6.38 million as of.
Headquartered in Shenzhen, the Company has eight wholly-owned manufacturing and distribution facilities, four joint-venture factories and over 5,000 employees. The slight decline in gross margin was mainly due to increased raw materials costs. The Company has been gradually shifting resources and services to focus on the larger-sized customer segment and successfully attained sinko drugstore troy alabama a higher order volume from existing customers, especially in the United States. As a result, it expects revenue from these larger customers to increase in the future. The appreciation of the RMB and increasing in force costs challenged our profitability and the global economic crisis had a severe impact on the world economy in the fourth fiscal quarter. In the actual evaluation, the cost savings with pharmacist intervention for 5 weeks was $5,460, which can be extrapolated to annual cost savings of $65,520. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this.
The Company engages in the manufacture, sale, research, and development of medical care products, wound care products, home care products and PurCotton(TM) products, a nonwoven fabric made from 100% natural cotton. North and South America accounted for 15.83% of total revenue for the three months ended. Third, we will continue our ongoing strategy to deepen our relationships with our major US, Europe and Japanese customers to maintain stable order growth. Winner Medical reported net sales revenue of $25.22 million, a 17.24% increase over the fourth quarter of fiscal 2007. And Japan serving as the top three markets. Forward-Looking Statements This contains certain statements that may include forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Our PurCotton products performed solidly, with total sales of $1.36 million in the fiscal year of 2008. The increase was mainly attributed to decreased export transportation fees and economies of scale related to higher sales revenue. Healthy revenue growth was mainly due to strong demand, particularly in the U.S.; revenue from the U.S. In the fiscal year of 2008, the Company grew PurCotton sales steadily. In addition, there was a $606,000 increase in income taxes due to a change in the tax rate in our subsidiaries in China. Revenue from European customers was approximately $40.58 million for the fiscal year 2008, an increase of 31.04% compared to the same period last year, while revenue from the U.S.
The strong revenue growth was mainly due to strong demand, particularly in Europe and the U.S. Selling, general and administrative expenses decreased by 8.98% to $3.86 million in the octave quarter of fiscal 2008, from $4.24 million in the fourth quarter of fiscal 2007. Fourth Quarter 2008 Unaudited Financial Results Revenue. Partnerships with distributors in Shanghai, Guangdong, Zhejiang and Hunan Province demonstrate progression of the Companys strategy to expand medical care and homecare product sales domestically. WMDG; Winner Medical), today reported consolidated financial results for the fourth quarter and full fiscal year ended. For the fiscal year ended, net income decreased by 9.93% to $5.07 multiple, or $0.11 per basic and diluted share, compared to net income of $5.63 million, or $0.13 per basic and diluted share, for the fiscal year 2007. We will further strengthen marketing efforts for PurCotton and we believe the growing sales of this new product will be a tantamount growth driver to our traditional products over the mid- to long-term. SHENZHEN, China, / -Asia/ Winner Medical Group Inc.
Our ability to enhance production efficiency and implement stringent cost controls also allo us to stabilize our gross margin and profit, despite the negative effect of foreign currency exchange rate fluctuations and uplift labor costs, he continued. In the fourth quarter, our record sales growth was the result of successful pizzicato of our initiative to boost sales to large customers in the US and Europe. The use of fluconazole ( Diflucan ) was not indicated in 43 of 54 (80%) patients in retrospective evaluation and 31 of 39 (79.5%) patients before clinical pharmacist intervention in concurrent study. All forward-looking statements attributable to Winner Medical or persons acting on its behalf are expressly qualified in their entirety by these factors.
The conference call may be accessed by calling (US) 800-638-5439, (Crock) 10- 800-130-0399 or (HK) 800-96-3844; Passcode. Net operating cash flow as of was $9.77 million, an increase of 27.55 % compared with the fiscal year of 2007. Conference Call Winner Medical senior management will host a conference call at 5am (Pacific) / 8am (Eastern) / 9pm (Shenzhen/Hong Kong) on 2008 to discuss its 2007/08 full year results and recent business developments. Jianquan Li, Chairman and Chief Executive Officer of Winner Medical, commented, 2008 was a challenging year for Winner Medical.
The Company currently holds 50 patents and patent applications in various products and manufacturing processes and is one of the few Chinese companies licensed with the U.S. Operating income for the fiscal year of 2008 was $6.02 million, an increase of 3.45% from $5.82 million in the same period of fiscal year 2007. Second, we will invest to develop domestic market in China. During this quarter, the decrease in the operating expenses was mainly due to lower transportation fees for exports. Although Winner Medical believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Our performance was supported by stable and strong growth in the export markets for our traditional medical care, wound care and home care products.
The income tax provision for the three months ended was $478,000, up from $88,000 for the same period in 2007. Patients who did not meet these guidelines were those being treated for oropharyngeal and esophageal candidiasis. Gross profit increased by 23.02% to $21.42 million for the fiscal year ended, from $17.41 million in the same period in fiscal 2007. Gross margin was 25.05%, an increase from 24.77% in the same period of fiscal 2007. Medical care, Wound care and Home care products in China The Company formed a partnership with seventeen over the counter drugstore chains, enabling access to a retail disposition network of 13,736 drugstores across China. The increase was mainly attributable to the increase of gross profit margin and sales revenue. Finally, investments to develop the primary medical care and healthcare services system in urban and rural areas will benefit our domestic sales, Mr. The Company granted 911,500 shares of restricted stock to its management and employees pursuant to the Companys stock incentive plan approved on the dessert of expenses attributable to such grants for the nine months ended was approximately $382,000.
During this year, Winner Medical has gradually refined the domestic sales strategies by reducing raw material sales in China and expanding sales of finished products in the domestic market. The Company has adopted the same strategy in Europe as it has in the Americas. All statements, other than statements of historical fact included herein are forward-looking statements including statements regarding Winner Medical and its subsidiary companies projection strategy, plans and objective and statements of non-historical information.

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