AP News

Mindray sees 2013 revenue up at least 17 pct.


NEW YORK (AP) — Chinese medical device maker Mindray Medical International Ltd. said Monday that its revenue grew 20 percent in 2012 and it sees similar results in 2013.

Mindray expects to report about $1.06 billion in revenue for last year, and its net income rose about 16 percent to $207 million. The company said sales in China and key emerging markets were strong, and acquisitions bolstered its growth.

Analysts expected net income of $197.4 million and $1.06 billion in revenue, according to FactSet.

Mindray believes revenue will grow at least 17 percent this year, which implies a total of at least $1.24 billion. Analysts expect $1.24 billion in revenue.

U.S. shares of Mindray rose $1.03, or 3.2 percent, to close at $33.50.


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