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Mindray Medical International Announces Second Quarter 2008 Results

below, was US$0.31 compared to US$0.20 in the second quarter 2007.

Second quarter 2008 GAAP diluted earnings per share was US$0.21. Second

quarter 2008 income tax expense was US$6.1 million, representing an

effective tax rate of 20.2% compared to a 14.4% effective tax rate in

the second quarter 2007, or an increase of 78.2% from US$3.4 million in

the second quarter 2007.

-- Mindray provides gross margin, operating margin, net income and

earnings per share on a non-GAAP basis that excludes non-cash, share-

based compensation expense and acquired intangible assets amortization

expense to enable investors to better assess the Company's operating

performance. The non-GAAP measures are described below and reconciled

to the corresponding GAAP measure in the section below titled "Use of

Non-GAAP Financial Measures."

"Once again, we have delivered another quarter of strong results, domestically and internationally," said Mr. Xu Hang, Mindray's chairman and co-chief executive officer. "During the quarter, we successfully finished our acquisition of Datascope's patient monitoring business and integration has started well. We have taken the first steps towards integrating the acquired business with the goal of growing the business into our North American and European platform for Mindray's broad product lines. Additionally, our China operations continue to deliver strong performance, where we grew revenues more than 40% for the fifth consecutive quarter. As we combine our strengths in China with our newly acquired strengths in North America and Europe we are increasing our competitiveness as a leading global medical device company providing high-quality and affordable medical devices to doctors and hospitals around the world."

The Company develops and manufactures over 50 products and distributes them into more than 140 countries.

"Mindray continues

SOURCE Mindray Medical International Limited
Copyright©2008 PR Newswire.
All rights reserved

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