Medical equipment manufacturer Mindray Medical International saw mixed financial results for its fourth quarter and 2014 fiscal year (end-December 31).
For the quarter, revenues increased 8.3% year over year to $399 million, compared with $368.4 million in 2013. For the year, revenues were $1.3 billion, a 9% increase compared with 2013's $1.2 billion.
Sales in China achieved double-digit growth, Mindray said, increasing 13.9% to $182.7 million for the most recent quarter (compared with $160.4 million in the fourth quarter of 2013) and 10% to $606.7 million for the full year (compared with $551.2 million for the year in 2013).
However, the company saw net income slip for the fourth quarter, from 2013's $75.2 million to a net profit of $52 million in the most recent quarter. For the year, the company's net income fell 14%, from $224.8 million in 2013 to $193.3 million in 2014.
In terms of specific markets, the medical imaging systems market saw revenues increase 11.9% from a year ago to $108.6 million, contributing 27.2% to total revenues in the fourth quarter of 2014, Mindray said.
