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Mindray Announces Third Quarter 2010 Financial Results
Date:11/8/2010

as tier two and below hospitals continuing to lag in self-funded purchases. Tender sales were flat from last quarter. While the long-term prospects of the healthcare sector in China driven by reform remain favorable, the timing associated with medical device purchasing under the plan remains unclear. Non-tender sales grew 1% year-over-year. As we have communicated to investors, we are realigning our sales force and undertaking other strategic initiatives in product development and marketing in order to focus on building out presence in both high-end and low-end market segments, as well as to improve operational efficiency. Mindray continues to focus on innovation and we are pleased to announce the planned openings of three new R&D centers by end of this year."SUMMARY –ThirdQuarter and Nine Months Ended September 30, 2010(in $ millions, except per-share data)

Three Months Ended

Nine Months EndedSeptember 30

September 302010

2009

% chg

2010

2009

% chgNet Revenues

168.3

151.1

11.3%

493.3

445.3

10.8%Revenues generated in China

69.1

66.8

3.3%

203.6

205.1

-0.7%Revenues generated outside China

99.2

84.3

17.7%

289.7

240.2

20.6%Gross Profit

99.0

85.5

15.7%

285.7

251.8

13.4%Non-GAAP Gross Profit

100.2

87.2

14.9%

289.8

256.8

12.8%Operating Income

38.7

34.2

13.2%

118.2

102.6

15.2%Non-GAAP Operating Income

42.4

40.0

5.9%

129.5

118.6

9.2%EBITDA

45.8

60.1

-23.8%

138.8

142.3

-2.5%Net Income

35.9

43.4

-17.2%

114.4

101.8

12.4%Non-GAAP Net Income

39.5

37.4

5.8%

125.6

105.7
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SOURCE Mindray Medical International Limited
Copyright©2010 PR Newswire.
All rights reserved

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