Mindray 4Q profit grows 18 pct on greater Chinese revenue, sales of in vitro diagnostic items

Mindray 4Q profit rises on greater sales in China

NEW YORK — Medical device maker Mindray Medical International Ltd. said its profit grew 18 percent in the fourth quarter due to greater sales in China.

The Shenzhen-based company said late Monday it earned $37.4 million, or 33 cents per share, up from $31.6 million, or 28 cents per share, a year earlier. Its revenue rose 12 percent to $188.8 million from $167.9 million.

Mindray said revenue in China rose 20 percent to $87.5 million, and international revenue increased 6 percent to $101.3 million.

By segment, patient monitoring and life support revenue rose 5 percent to $82.7 million, in vitro diagnostic product revenue climbed 24 percent to $45.8 million, and medical imaging system revenue picked up 12 percent to $48.5 million, Mindray said. Other revenue rose to $11.8 million from $8.4 million.

The company’s annual profit rose 28 percent to $139.2 million, or $1.23 per share, from $108.7 million, or 96 cents per share. Its revenue increased 16 percent to $634.2 million from $547.5 million.

In afternoon trading, Mindray shares added 79 cents, or 2 percent, to $39.24.