Mindray continues to see revenue uptick

Medical equipment manufacturer Mindray Medical International saw a jump in its revenues and net income for the third quarter (end-September 30).

Net revenues increased 9.6% year over year to $324 million, compared with $296 million in 2013. A part of that increase came from international sales, which totaled $168.9 million.

Even though sales in China and Western Europe achieved double-digit growth, there was some softness in key emerging markets as a result of unfavorable currency fluctuations and political tensions, Mindray said.

Net income for the firm increased 53.1% to $46 million, compared with $30.1 million in the prior year's quarter.

In terms of specific markets, the medical imaging systems market saw revenues increase 6.9% from a year ago to $82.5 million, contributing 25.4% to total net revenues in the third quarter of 2014, Mindray said.

The firm expects its full-year 2014 revenues to grow less than 10% over its full-year 2013 net revenues.

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