SHENZHEN, China, Jan. 12 /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, 2008. The preliminary results reported below include the results of operations of the patient monitoring business acquired from Datascope ("DPM") starting from May 1, 2008.
Preliminary 2008 Operating Results
For the year ended December 31, 2008, Mindray expects net revenues to be in the range of US$540 million to US$550 million, compared to US$294.3 million in 2007, or 84% to 87% year-over-year growth. Based on the estimated full year revenue range, fourth quarter 2008 revenue grew 76% to 87% year-over-year despite a challenging global operating environment that included volatile foreign exchange fluctuations, a slow down in hospital spending and credit freezes.
Based on the estimated full year revenue, the company anticipates the 2008 non-GAAP diluted EPS to be no less than US$1.16, compared to US$0.79 in 2007, or 47% year-over-year growth. The estimated non-GAAP diluted EPS is based on the assumption that Mindray's Shenzhen subsidiary receives a preferential income tax rate at 15% as a qualified "New and Hi Tech Enterprise." The subsidiary has already received approval of such qualification from the Shenzhen local government, and the Company does not anticipate any delay in closing the process from the central government level in the near future.
"Despite the recent unprecedented and challenging global environment,
Mindray maintained its focus on outstanding execution and operational
excellence," commented Mr. Xu Hang, Mindray's chairman and co-chief executive
officer. "As a result, we achieved excellent
|SOURCE Mindray Medical International Limited|
Copyright©2009 PR Newswire.
All rights reserved