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Mindray Announces Second Quarter 2011 Financial Results
Date:8/8/2011

mp; life support products segment revenues increased 12.3% to $93.0 million from $82.8 million in the second quarter of 2010. The patient monitoring & life support products segment contributed 42.8% to total net revenues in the second quarter of 2011.

In-Vitro Diagnostic Products: In-vitro diagnostic products segment revenues increased 30.5% to $56.4 million from $43.2 million in the second quarter of 2010. The in-vitro diagnostic products segment contributed 25.9% to total net revenues in the second quarter of 2011.

Medical Imaging Systems: Medical imaging systems segment revenues increased 30.6% to $55.7 million from $42.7 million in the second quarter of 2010. The medical imaging systems segment contributed 25.6% to total net revenues in the second quarter of 2011.

Others: Other revenues, which are primarily comprised of service fees charged for post warranty period repair services, increased 15.3% to $12.2 million from $10.5 million in the second quarter of 2010. Other revenues contributed 5.7% to total net revenues in the second quarter of 2011.

Gross MarginsSecond quarter 2011 gross profit was $123.8 million, an 18.5% increase from $104.4 million in the second quarter of 2010. Second quarter 2011 non-GAAP gross profit was $125.2 million, an 18.3% increase from $105.8 million in the second quarter of 2010. Second quarter 2011 gross margin was 57.0% compared to 58.3% in the second quarter of 2010 and 55.1% in the first quarter of 2011. Non-GAAP gross margin was 57.6% in the second quarter of 2011 compared to 59.0% in the second quarter of 2010 and 55.9% in the first quarter of 2011.

Operating ExpensesSelling expenses for the second quarter of 2011 were $40.4 million, or 18.6% of total net revenues, compared to 15.2% in the second quarter of 2010 and 18.6% in the first quarter of 2011. Non-GAAP selling expenses for the second quarter of 2011 were $38.5 million, or 17.7% of total net revenues, compa
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SOURCE Mindray Medical International Limited
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