Mindray Medical, a  China-based developer, manufacturer and marketer of medical devices worldwide has announced  unaudited financial results for the second quarter and first half ended June 30, 2010.

The company's net revenues were $179.2 million, an increase of 12 per cent over the second quarter of 2009 and 22.9 per cent over the first quarter of 2010. It has achieved an international sales of $106.8 million as compared to $84.1 million for the second quarter of 2009. 

"We are happy to report a 12 per cent year-over-year increase in revenues, driven primarily by this quarter's accelerated international sales growth," said Mr Xu Hang, Mindray's Chairman. "We are particularly encouraged by the accelerated growth we have seen in both emerging and developed markets. Both Latin America and the CIS region led growth among all regions while Western Europe and the US recorded double-digit growth.”

Mindray has launched three products during the quarter, bringing the year-to-date total to four new products across three product lines.

“Government tender activities, however, unexpectedly continued to decline and as a result, our total China sales decreased 4.6 per centyear-over-year but grew 16.5per cent as compared to the first quarter this year. While we cannot control the timing associated with tender sales, we are realigning our sales force and undertaking other strategic initiatives in product development and marketing, allowing us to focus more intensely on our higher end product lines for the non-tender market,” said Mr Hang.