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

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Business Outlook for Full Year 2011The company maintains its full year guidance and anticipates its full year 2011 net revenues to be more than 16% higher than its full year 2010 net revenues.

The company continues to project its full year 2011 non-GAAP net income to grow more than 10% over its non-GAAP net income for full year 2010. This guidance excludes the tax benefits related to the key software enterprise status ($8.6 million and $7.6 million recognized in the first quarter of 2010 and 2011 respectively) and assumes a corporate income tax rate of 15% applicable to the Shenzhen subsidiary.

The company expects its capital expenditure for 2011 to remain in the range of $70 million to $80 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.

"We are maintaining our guidance at this time," commented Li Xiting, Mindray's president and co-chief executive officer. "Most of our key global markets continue to have favorable growth prospects. In China, we are excited to see increased patient traffic and spending on county level hospitals. Together with our strategic efforts in China, we are optimistic that our China business is back on track. Emerging markets continue to exhibit strong growth momentum, although we are closely monitoring the political situation in the Middle East and Africa. Developed markets as a whole also keep growing steadily. In the second quarter, we once again demonstrated our focus on profitability and cash generation. In the coming quarters, our commitment to technology and product innovation, coupled with potential additional acquisitions, will fuel our future growth and expansion."

Conference Call InformationMindray's management will hold an earnings conference call at 8:00 AM on August 9, 2011 U.S. Eastern Time (8:00 PM on August 9, 2011 Beijing/Hong Kong Time)
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SOURCE Mindray Medical International Limited
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