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Mindray Medical International Announces First Quarter 2008 Results
Date:5/7/2008

strict capital discipline, we continued to drive down costs and enhance overall operating efficiency to achieve higher year-over-year growth in our operating profit than in revenues during the quarter.''

Financial Results for First Quarter 2008

Mindray reported net revenues of RMB626.0 million (US$89.3 million) for the first quarter 2008, a 48.2% increase from RMB422.4 million (US$54.7 million) in the first quarter 2007.

Net revenues generated in international markets in the first quarter 2008 increased 49.4% to RMB319.6 million (US$45.6 million) from RMB213.9 million (US$27.7 million) in the first quarter 2007.

Net revenues generated in China in the first quarter 2008 increased 46.9% to RMB306.4 million (US$43.7 million) from RMB208.5 million (US$27.0 million) in the first quarter 2007.

Performance by Segment

Patient Monitoring & Life Support Products: Patient monitoring & life support products segment revenues increased 30.2% to RMB208.9 million (US$29.8 million) from RMB160.5 million (US$20.8 million) in the first quarter 2007. The patient monitoring & life support products segment contributed 33.9% to total net segment revenues in the first quarter 2008.

In-Vitro Diagnostic Products: In-vitro diagnostic products segment revenues increased 56.1% to RMB208.7 million (US$29.8 million) from RMB133.7 million (US$17.3 million) in the first quarter 2007. The in-vitro diagnostic products segment contributed 33.9% to total net segment revenues in the first quarter 2008.

Medical Imaging Systems: Medical imaging systems segment revenues increased 61.2% to RMB189.1 million (US$27.0 million) from RMB117.3 million (US$15.2 million) in the first quarter 2007. The medical imaging systems segment contributed 30.7% to total net segment revenues in the first quarter 2008.

Gross Margins

First quarter 2008 non-GAAP gross profit, as defined below, was RMB359.4 million (US$51.3 million), a 48.4% increase from RMB24
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SOURCE Mindray Medical International Limited
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