SHENZHEN, China, Jan. 10, 2011 /PRNewswire-Asia-FirstCall/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide, today announced selected preliminary, unaudited results for the fiscal year ended December 31, 2010.
For the year ended December 31, 2010, Mindray expects net revenues to be approximately US$703 million, compared to US$634.2 million in 2009, representing approximately 10% year-over-year growth.
Based on the estimated full year revenues, the company anticipates 2010 non-GAAP net income to grow about 10% year-over-year. Consistent with the company's previous annual guidance, the non-GAAP net income figure excludes the $8.6 million corporate income tax reduction recognized in the first quarter of 2010 and assumes a corporate income tax rate of 15% applicable to the Shenzhen subsidiary.
"In 2010, despite the continued uncertainties in economies globally and the impact from various proposed healthcare reforms, we were encouraged to see recovery in some geographic areas," commented Mr. Xu Hang, Mindray's Chairman and Co-Chief Executive Officer. "Mindray's commitment to invest in key international markets has allowed us to capture growth opportunities and demonstrate solid performance in these regions. We have also maintained our focus on innovation and operational excellence, by launching 10 new products, delivering strong margins, and achieving double digit revenue and non-GAAP earnings growth for the year."
"As we closed the fourth quarter of 2010, we continued to see strong business growth trends in our key international markets. In China, we are on track with our strategic measures to restore growth in non-tender sales," added Mr. Li Xiting, Mindray's President and Co-Chief Executive Officer. "Based on these early indications, we are setting an initial 20
|SOURCE Mindray Medical International Limited|
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