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Mindray Medical Int'l sees profit down 3% in Q1

May. 8, 2012 (China Knowledge) - Mindray Medical International Ltd<MR>, a leading developer, manufacturer and marketer of medical devices worldwide, has posted US$36.6 million-net profit for the first quarter of 2012, reflecting a year-on-year decline of 3% from US$37.7 million.

On a non-GAAP basis, the U.S.-listed firm's net profit decreased 4.4% from a year earlier to US$40.4 million in the reporting period.

Basic and diluted earnings per American Depositary Share were US$0.32 and US$0.31, respectively, in the first three months ended Mar. 31, 2012, compared with US$0.33 and US$0.32, respectively, in the same period of 2011.

The company reaped US$219 million in operating revenue in the first quarter of 2012, up 21.1% year on year from US$180.9 million.

As of Mar. 31, 2012, Mindray Medical International had US$664.2 million in cash and short-term investments, as compared to US$603.5 million at the end of last year.

In addition, the firm expects to have operating revenue increase 18% this year.

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