Mindray Announces Third Quarter 2009 Financi...(expenses for the third quarter of 2009 w...),Health

Date:11/9/2009

expenses for the third quarter of 2009 were $14.2 million, or 9.4% of total net revenues, compared to 10.0% in the third quarter of 2008 and 9.2% in the second quarter of 2009. Non-GAAP research and development expenses for the third quarter of 2009 were $13.4 million, or 8.8% of total net revenues, compared to 9.4% in the third quarter of 2008 and 8.7% in the second quarter of 2009.

Total share-based compensation expenses, which were allocated to cost of revenues and related operating expenses, were $2.6 million in the third quarter of 2009 compared to $2.6 million in the second quarter of 2009 and $2.6 million in the third quarter of 2008.

Operating income was $34.2 million in the third quarter of 2009, a 13.5% increase from $30.2 million in the third quarter of 2008. Non-GAAP operating income in the third quarter of 2009 was $40.0 million, a 6.7% increase from $37.5 million in the third quarter of 2008. Operating margin was 22.6% in the third quarter of 2009 compared to 20.6% in the third quarter of 2008 and 24.4% in the second quarter of 2009. Non-GAAP operating margin was 26.5% in the third quarter of 2009 compared to 25.6% in the third quarter of 2008 and 27.4% in the second quarter of 2009.

Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA")

Third quarter 2009 EBITDA increased 51.6% year-over-year to $60.1 million from $39.6 million in the third quarter of 2008 and increased 28.7% from $46.7 million in the second quarter of 2009.

Net Income

Net income increased 55.2% year-over-year to $43.4 million from $28.0 million in the third quarter of 2008. Non-GAAP net income increased 11.0% year-over-year to $37.4 million from $33.7 million in the third quarter of 2008. Net margin was 28.7% in the third quarter of 2009 compared to 19.1% in the third quarter of 2008 and 20.6% in the second quarter of 2009. Non-GAAP net margin was 24.7% in the third qu
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SOURCE Mindray Medical International Limited Copyright©2009 PR Newswire. All rights reserved

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