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

g activities and capital expenditures for the first quarter 2008 were RMB218.7 million (US$31.2 million) and RMB68.8 million (US$9.8 million), respectively.

As of March 31, 2008 the Company had 4,050 employees compared to 3,705 employees on December 31, 2007.

Business Outlook for Full Year 2008

In March 2008, Mindray agreed to acquire Datascope Corporation's (Nasdaq: DSCP) patient monitoring business for approximately $202 million in cash (the ''Datascope acquisition'' or the ''transaction''). The transaction, expected to close in mid-May, will create, upon completion, the third-largest player in the global patient monitoring device industry and furthers Mindray's goal of becoming a leading provider of high-quality medical devices to markets worldwide. After closing of the transaction, the Company expects its full-year 2008 net revenue guidance to be in the range of US$560 million to US$580 million, assuming the consolidation of Datascope's patient monitoring business starting from May 1, 2008.

The updated full-year 2008 non-GAAP (excluding share-based compensation expenses and amortization of intangible assets resulting from acquisitions) net income guidance will be in the range of US$132 million to US$135 million, taking into consideration a 15% effective income tax rate after certain government tax incentives and rebates.

Non-GAAP EPS is expected to be in the range of US$1.16 to US$1.18 per fully diluted share based on an estimated average diluted share count of 114 million for the year. Previously issued non-GAAP EPS guidance was in the range of US$1.15 to US$1.17 per fully diluted share (based on Mindray's estimated average forecast foreign exchange rate of RMB7.15 to US$1.00 at the time of issuance). The
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SOURCE Mindray Medical International Limited
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