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Mindray Announces 2008 Third Quarter and Nine Months Results
Date:11/10/2008

-- Net Revenue Increased 93.6% to US$146.5 million; Non-GAAP Gross Margins

Improved to 57%

SHENZHEN, China, Nov. 10 /Xinhua-PRNewswire-FirstCall/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide today announced its selected unaudited financial results for the third quarter and nine months ended September 30, 2008. The financial results reported below include the results of operations of the patient monitoring business acquired from Datascope ("DPM") starting from May 1, 2008.

Highlights for 2008 Third Quarter and Nine months

-- Revenue generated in China increased 61.3% while revenue generated in

international markets increased 126.1% in the third quarter of 2008

over the same period of 2007

-- Non-GAAP net income, as defined below, in the third quarter of 2008

increased 48.1% over the same period of 2007

-- Non-GAAP diluted EPS, as defined below, in the third quarter 2008

increased 46.1% over the same period of 2007

-- Continue to improve product mix with the introduction of 5 new products

year-to-date

-- DPM integration ahead of schedule

-- Recently renewed major GPO contract with HealthTrust Purchasing Group

"Mindray has always focused on building a business that yields high profitability and cash flow, while sustaining high earnings growth." said Mr. Xu Hang, Mindray's chairman and co-chief executive officer. "We have delivered yet another quarter of strong earnings growth. Our continuous cost savings from our vertically integrated R&D and manufacturing model as well as prudent expense controls have led to operating margin
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SOURCE Mindray Medical International Limited
Copyright©2008 PR Newswire.
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