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Mindray Announces 2012 Fourth Quarter and Full Year Results
Date:2/25/2013

will be payable on or around April 8, 2013, to shareholders of record as of March 8, 2013. The company has approximately 119 million outstanding ordinary shares as of January 31, 2013.

Business Outlook for Full Year 2013The company expects its full year 2013 net revenues to grow at least 17% over its full year 2012 net revenues. The company also expects its full year 2013 non-GAAP net income to grow at least 15% over its non-GAAP net income for the full year 2012. This guidance excludes the tax benefits related to the key software enterprise status for the calendar year 2011 and 2012 that we may receive in 2013 and assumes a corporate income tax rate of 15% applicable to the Shenzhen subsidiary.

The company expects its capital expenditure for 2013 to be around $130 million.

The company's practice is to provide guidance on a full year basis only. This forecast reflects Mindray's current and preliminary views, which are subject to change.

"Looking ahead, China will remain the primary engine for our growth this year, due to our strong competitive position in the domestic market and favourable spending environment on healthcare. As for emerging markets, the prospects, albeit favourable overall, are somewhat overshadowed by potential political instability and currency risks in some regions," said Li Xiting, Mindray's President and Chief Executive Officer. "We anticipate that the developed markets[3] will remain challenging this year because of lingering uncertainties over their economies or hospital spending. But our strategy of offering great products at reasonable prices will continue to serve us well in all markets. We will work on strengthening our research and development and pursuing suitable M&A opportunities in order to drive long-term growth for Mindray." 

[1] Emerging markets represent all countries except China and developed markets. 

[2] The amount excludes the $7.6 million tax benefits related to t
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SOURCE Mindray Medical International Limited
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