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Mindray Announces Third Quarter 2009 Financial Results
Date:11/9/2009

nd OEM chemical analyzer project between Beckman Coulter, Inc. and Mindray. The agreement resulted from changes in business strategy by Beckman Coulter, Inc. after it acquired the Olympus Diagnostic division. -- Mindray met product launch goals for the year with four more product launches in the third quarter, including the DC-7 color ultrasound system, BC-5800 hematology analyzer and WATO EX 20/30 anesthesia machine, as well as the Passport V, the second jointly developed patient monitor from the Shenzhen and Mahwah engineering teams. Mindray has launched 9 new products year to date.

"Mindray delivered solid results this quarter and we are encouraged by the continuous sales uptake we are seeing in the international markets," commented Xu Hang, Mindray's chairman and co-chief executive officer. "In the domestic Chinese market, normal distributor sales remained strong while tender sales were much lower than expected due to a slow-down in the government budget deployment process; this is a result of normal quarterly fluctuation in tenders and hence we maintain our growth expectation for China for the year. Mindray continues to focus on innovation and we are pleased to deliver on our annual new product development goals ahead of schedule as we successfully introduced four additional new products to the market during the quarter."



    SUMMARY -- Third Quarter and Nine Months Ended September 30, 2009

    (in $ millions, except            Three Months Ended   Nine Months Ended
     per-share data)                     September 30        September 30
                                      2009   2008   % chg  2009   2008   % chg

    Net Revenues                     151.1  146.5   3.1%  445.3  379.6  17.3%
    Revenues generated in China       66.8   61.1   9.3%  205.1  161.7  26.8%
    Revenues generated outside China  84.3   85.4  -1.3%  240.2  217.9  10.3%
    Gross Profit       
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SOURCE Mindray Medical International Limited
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