Mindray Announces First Quarter 2009 Financi...( SHENZHEN China May 11 Asia-FirstC...),Health

SHENZHEN, China, May 11 /PRNewswire-Asia-FirstCall/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide announced today its selected unaudited financial results for the first quarter ended March 31, 2009.

    Highlights for First Quarter 2009
    -- First quarter 2009 net revenues were $134.2 million, an increase of
       53.5% over the first quarter of 2008
    -- Non-GAAP operating income in the first quarter 2009 was $34.7 million,
       a 12.6% increase from the first quarter of 2008. First quarter 2009
       GAAP operating income was $29.4 million
    -- Accutorr V -- first jointly developed product by Mahwah and Shenzhen
       teams was successfully released to the market.

"Despite weaker-than-expected market trends in US and Europe, we are pleased to report a relatively strong quarter," commented Mr. Xu Hang, Mindray's chairman and co-chief executive officer. "During the quarter, Mindray responded quickly to the challenging market dynamics and initiated measures to effectively control product costs and reduce operating expenses to sustain operating profit growth. We are confident that Mindray will continue to outperform the market in the remainder of 2009 and beyond, as a result of the strength of our highly competitive operating structure which enables us to deliver products that meet the quality, performance and price requirements of our growing global customer base."

                               SUMMARY - 1st Quarter 2009

(in $ millions, except per-share 1Q/2009 1Q/2008 % change

data)

    Net Revenues                           134.2       87.4            53.5%
           Revenues generated in China      62.4       42.8            45.8%
      Reve
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SOURCE  Mindray Medical International Limited
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