Nov. 5, 2009 (PR Newswire) -- NEW YORK, Nov. 5 /PRNewswire-FirstCall/ -- Deer Consumer Products, Inc. (Nasdaq: DEER) (Website: www.deerinc.com), a leading manufacturer of home and kitchen electronics marketing to both global and Chinese domestic consumers, is pleased to announce financial results for the 3rd quarter ended September 30, 2009.

3rd Quarter Revenues

--  Revenues of $26.54 million, up 130%, compared to $11.54 million in Q3
2008

--  Revenue increase was due to expansion of sales in the U.S. market and
putting significant efforts into increasing our sales to the Chinese and
European markets

3rd Quarter Net Income

    --  Net income of $4.12 million, up 168%, compared to $1.54 million in Q3
2008

Affirms 2009 Sales and Earnings Guidance

DEER affirms 2009 financial guidance of approximately $81 million in revenues and approximately $10.5 million in net income for our fiscal year ending December 31, 2009. In 2008, DEER reported US GAAP audited revenues of $43.8 million, net income of $3.4 million.

Management Comments

Bill He, Deer's Chairman & CEO commented, "During the 3rd quarter, we experienced sales and earnings growth both in the Chinese domestic and international markets. Our global customer base, as well as Chinese domestic sales channels, responded positively to the improved global economic environment which continued to strengthen our market position. As a result, we are comfortable with our 2009 earnings guidance."

Mr. He continued: "In the most recently concluded Guang Dong Fair which is China's largest product show, we noticed significant global and domestic customer demand and interest towards our products. Deer is well positioned to further benefit from any global economic recovery."

About Deer Consumer Products, Inc.

Deer Consumer Products, Inc. (www.deerinc.com) is a NASDAQ Global Market listed U.S. public company headquartered in China. Supported by more than 103 patents and approximately 1,900 full time and part time employees, Deer is a market leader in the design, manufacture and sale of home and kitchen electric appliances marketing to the vast Chinese domestic consumer markets as well as customers in more than 40 countries worldwide. Deer's product lines include blenders, juicers, pressure cookers and other home appliances designed to improve home lifestyles in today's fast-paced society. With more than 100 global and domestic clients/branded products including Black & Decker, Ariete, Disney, Toastmaster, Magic Bullet, Back to Basics, and Wal-Mart, Deer has enjoyed rapid sales and earnings growth in the recent years.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company's expectations. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect Deer's current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in Deer's filings with the Securities and Exchange Commission.

Contact Information:
Corporate Contact:
Helen Wang, Corporate Secretary
Deer Consumer Products, Inc.
Tel: 011-86-755-86028285

DEER CONSUMER PRODUCTS, INC.