"In our domestic market, we continue to benefit from rising private healthcare spending, as well as a steady increase in government tenders. These trends reflect the strong growth of China's economy and the government's commitment to investing in rural healthcare infrastructure," added Mr. Li Xiting, Mindray's president and co-chief executive officer. "Internationally, product sales saw healthy growth across all of our geographies, most notably in our European and South American markets. During the quarter we remained focused on building out an extensive international distribution network and further expanded our presence abroad, opening offices in Canada, Brazil, Mexico and the Netherlands."
The company now has 29 sales and service offices in China and 10 internationally.
Financial Results for Third Quarter 2007
Mindray reported net revenues of RMB573.2 million (US$76.5 million) for the third quarter 2007, representing a 58.9% increase from RMB360.9 million in the third quarter 2006.
Net revenues generated in international markets in the third quarter 2007 increased by 52.0% to RMB286.1 million (US$38.2 million) from RMB188.2 million in the third quarter 2006.
Net revenues generated in China in the third quarter 2007 increased by 66.3% to RMB287.1 million (US$38.3 million) from RMB172.7 million in the third quarter 2006.
Performance by Segment
Patient Monitoring Devices: Patient monitoring device segment revenues
increased 48.5% to RMB207.1 million (US$27.6 million) from RMB139.5 million
in the third quarter 2006. The patient monitoring device segment
contributed 36.6% of total
|SOURCE Mindray Medical International Limited|
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