Mindray Medical’s Higher 2008 Results Fail to Impress Investors

Mindray Medical, the Shenzhen-based medical device maker, reported positive results for its Q4 and full-year 2008. Revenues climbed to $547.4 million, which represented a 61% increase in China and a 110% improvement in international markets. Non-GAAP income rose 50% to $132.7 million. Although Mindray’s numbers were healthy, investors seemed unhappy that the company’s overall business did not grow more rapidly.
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