Medical equipment manufacturer Mindray Medical International saw a modest increase in revenues for the first quarter of 2015 (end-March 31).
Revenues increased 2.9% to $272.5 million, compared with $264.8 million in the prior year's quarter. In addition, revenues from its operations in China grew 5.3% year over year to $122 million, representing 44.8% of the company's total net revenues.
In its Medical Imaging Systems segment, net revenues decreased 1.3% year over year to $66.7 million and contributed 24.5% to total net revenues in the quarter.
However, Mindray launched three products during the quarter, including a high-end tablet color ultrasound scanner, and remains optimistic about the future. The company said it intends to adopt a more competitive pricing strategy to maintain its market position; this has prompted the firm to lower its net income guidance.
