Mindray posts Q2 growth

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Medical device developer, manufacturer and distributor Mindray Medical International of Shenzhen, China, reported unaudited double-digit growth in sales and generally accepted accounting principles (GAAP) net income for its fiscal 2007 second quarter (end-June 30).

For the period, the firm stated net revenues of China yuan reminbi (RMB) 561.5 million ($73.8 million, U.S.), an increase of 56.7 percent compared with its fiscal 2006 second quarter. Second quarter 2007 GAAP net income was RMB 156.5 million ($20.6 million), a robust increase compared with RMB 96.4 million ($12.74 million) in the second quarter of fiscal 2006.

The firm’s ultrasound imaging system segment revenues increased 80 percent to RMB 179.9 million ($23.6 million) compared with the same period last year The ultrasound imaging system segment contributed 32.5 percent of total net segment revenues in the second quarter 2007, Mindray said.