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Mindray Announces 2008 Fourth Quarter and Full Year Results

SHENZHEN, China, March 4 /PRNewswire-Asia-FirstCall/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide announced today its selected unaudited financial results for the fourth quarter and full year ended December 31, 2008. The financial results reported below include the results of operations of the patient monitoring business acquired from Datascope ("DPM") starting from May 1, 2008.

    Highlights for Fourth Quarter and Full Year 2008

    -- Full year 2008 revenue generated in China and international markets
       increased 61.1% and 110.4%, respectively, over 2007 to a total of
       $547.5 million
    -- Full year 2008 non-GAAP net income, as defined below, increased 49.7%
       year-over-year to $132.7 million
    -- Full year 2008 non-GAAP diluted EPS, as defined below, increased 48.8%
       year-over-year to $1.17
    -- Strong fourth quarter operating cash flow of $40.0 million
    -- Company further improved product mix and achieved new product
       development goals for 2008 with ten products brought to market across
       all 3 product segments
    -- Enhanced presence in U.S. market and received FDA 510(k) clearance for
       nine products
    -- Company declares 2008 dividend of $0.20 per share

"Mindray has continued to deliver strong results despite a challenging economic environment in the fourth quarter 2008," commented Mr. Xu Hang, Mindray's chairman and co-chief executive officer. "In 2008, we successfully completed and delivered initial synergy targets from the acquisition of Datascope's patient monitoring business which greatly expanded our geographic footprint in North America and strengthened our presence in Europe. Fully leveraging the strength of our internal R&D and sales and marketing ca

SOURCE Mindray Medical International Limited
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