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Mindray Announces Second Quarter 2009 Financial Results

SHENZHEN, China, Aug. 10 /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 second quarter and first half ended June 30, 2009.

    Highlights for Second Quarter and First Half 2009
    -- Second quarter 2009 net revenues were $160.1 million, an increase of
       9.9% over the second quarter of 2008 and 19.3% over the first quarter
       of 2009.
    -- Fully diluted EPS in the second quarter of 2009 was $0.29, a 38.8%
       increase from the second quarter of 2008 and a 29.8% increase from the
       first quarter of 2009.
    -- EBITDA in the second quarter of 2009 was $46.7 million, a 38.8%
       increase from the second quarter of 2008.
    -- Gross margin in the second quarter of 2009 was 57.2%, up from 52.8% in
       the second quarter of 2008 and 55.7% in the first quarter of 2009.
    -- Net operating cash generated during the second quarter of 2009 was
       $34.5 million.
    -- Working capital days were 77 in the second quarter of 2009.
    -- A total of five products were launched in the first half of 2009.
    -- Mindray USA expanded its Group Purchase Organization ("GPO") contract
       base; the DPM product line has now been added to contracts in five of
       the largest GPOs, providing access to this product line to over 85% of
       the U.S. hospitals and surgery centers.

"Mindray continued to generate solid operational performance and earnings growth in the face of a global marketplace that remains very challenging," commented Xu Hang, Mindray's chairman and co-chief executive officer. "The ongoing realignment of core competencies within each region and continued integration of our Mahwah operations have and wi

SOURCE Mindray Medical International Limited
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