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Mindray Announces Second Quarter 2013 Financial Results
Date:8/5/2013

e second quarter of 2012, contributing 28.7% to total net revenues in the second quarter of 2013. Reagents sales represented 36.6% of this segment's net revenues.

Medical Imaging Systems: Net revenues in this segment increased 18.6% to $76.1 million from $64.1 million in the second quarter of 2012, contributing 24.8% to total net revenues in the second quarter of 2013.

Others: Net revenues increased 68.7% to $25.5 million from $15.1 million in the second quarter of 2012, contributing 8.3% to total net revenues in the second quarter of 2013. Other net revenues mainly include sales from the orthopedics business, service revenues from extended warranties, sales of accessories and repair service revenues for post-warranty period.

Gross MarginSecond quarter 2013 gross profit was $176.5 million, a 14.9% increase from $153.6 million in the second quarter of 2012. Second quarter 2013 non-GAAP gross profit was $178.7 million, a 15.4% increase from $154.8 million in the second quarter of 2012. Second quarter 2013 gross margin was 57.5% compared to 57.4% both in the second quarter of 2012 and the first quarter of 2013. Non-GAAP gross margin was 58.2% compared to 57.8% in the second quarter of 2012 and 58.1% in the first quarter of 2013.

Operating ExpensesSelling expenses in the second quarter of 2013 were $54.6 million, or 17.8% of total net revenues, unchanged from the second quarter of 2012 but lower than the 19.5% in the first quarter of 2013. Non-GAAP selling expenses were $52.2 million, or 17.0% of total net revenues, unchanged from the second quarter of 2012 and lower than the 18.5% in the first quarter of 2013.

General and administrative expenses for the second quarter of 2013 were $26.6 million, or 8.7% of total net revenues, compared to 9.7% in the second quarter of 2012 and 11.0% in the first quarter of 2013. Non-GAAP general and administrative expenses for the second quarter of 2013 were $26.0 million, or 8.5% of to
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SOURCE Mindray Medical International Limited
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