Deer Consumer Products (Nasdaq: DEER) shares charged ahead 8.4% Wednesday to $4.37. Volume for the stock neared 600,000 shares toward the closing bell, or better than double its daily average of 233,000.

A news release that came out in early August pointed to second-quarter results that were truly impressive. The New York-based company, providing small household and kitchen appliances for global customers, revealed revenues of $45.1 million, an increase of $10.7 million or 31% from $34.5 million for the three months ended June 30, 2010.

Approximately 65% of the sales in the second quarter were generated from China’s domestic markets while approximately 35% were from export markets. The increase in revenues was a result of the company’s expansion of sales in the China domestic market. The company was also able to raise the average selling prices of our products during the quarter and maintained healthy profit margins across our product lines.

Deer’s gross profit margin was approximately 29% for the three months ended June 30, 2011, which reflects blended profit margins between its higher-margin China domestic sales and generally lower margins from export sales.

Second-quarter net income was $7.3 million, an increase of 22% from Q2/2010. Fully diluted earnings per share were $0.22, an EPS increase of 22% from Q2/2010.

On that occasion, company CEO Bill He commented: “Deer is pleased to report record second quarter financial results. In 2010, Deer entered China’s domestic markets with a strong push by putting our ‘DEER’ branded products on the shelves of approximately 3,000 retail locations across China.

He continued, “’DEER’ branded products did especially well in the Guandong Province, Sichuan Province, Shaanxi Province, Zhejiang Province and Shandong Province. In 2011, Deer plans to continue to expand such store presence across China while adding in-store promotional staff to further enhance sales and sell-through. During the second quarter, we experienced strong customer product re-ordering from existing and new customers, as well as various levels of product sell-through. In certain product lines and during Chinese holidays, some of our products sold out completely. We made great efforts to replenish empty shelf space in some markets.”