Mindray Medical Announces Preliminary 2011 Revs $878M vs $856M Est

Mindray Medical International Limited MR today announced selected preliminary, unaudited results for the fiscal year ended December 31, 2011. The company also provided net revenue guidance for 2012. For the year ended December 31, 2011, Mindray expects net revenues to be approximately US$878 million, representing approximately 24.7% year-over-year growth. Based on the estimated full-year revenues, the company anticipates 2011 non-GAAP net income to grow no less than 10% year-over-year. The non-GAAP net income figure excludes the tax benefits related to the key software enterprise status ($8.6 million and $7.6 million recognized in the first quarter of 2010 and 2011 respectively) and assumes a corporate income tax rate of 15% applicable to the Shenzhen subsidiary.