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Mindray Announces 2008 Fourth Quarter and Full Year Results

ed in 2008. This guidance reflects an assumption that foreign exchange rates remain constant at RMB6.85 to the dollar and $1.28 to the euro.

The company also expects its full year 2009 non-GAAP EPS to grow 20% over its non-GAAP EPS for full year 2008.

The company expects its capital expenditure for 2009 to be in the range of $40 million to $60 million.

The company's practice is to provide guidance on a full year basis only. This forecast reflects Mindray's current and preliminary views, which are subject to change.

"Despite the continued economic challenges we are all witnessing, we are confident Mindray can achieve at least 20% revenue growth in 2009, with stronger growth coming in the second half of the year," commented Mr. Li Xiting, Mindray's president and co-chief executive officer. "For 2009, we will continue to work towards a successful integration of DPM to improve our product and geographic mix and offer cross-selling and market share gain opportunities. We hope to gain market share based on the increasing attractiveness of our high performance-price products to an increasingly cost-conscious customer base. In addition, to improve our international distribution platform, we plan to expand and localize our international distribution teams at reasonable costs. Mindray is well positioned to navigate these unprecedented times and to capitalize on any opportunities that may emerge because of the diversity of our product offering across a range of price points, our ability to closely manage costs, and the strength of our balance sheet."

Conference Call Information

Mindray's management will hold an earnings conference call at 8:00 AM on March 5, 2009 U.S. Eastern Time (9:00 PM on March 5, 2009 Beijing/Hong Kong Time).

    Dial-in details for the earnings conference call are as follows:

    Hong Kong:                +852-3002-1672
    U.S. Tol
SOURCE Mindray Medical International Limited
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