Double-digit sales growth in China and other developing markets propelled medical equipment manufacturer Mindray Medical International to gains in net revenues and profit in 2011.
Net revenue rose 25% to $880.7 million in 2011, compared with $704.3 million in 2010. Net income advanced 7% to $166.6 million last year, compared with $155.5 million the previous year.
In the fourth quarter of 2011, net revenue increased 25% to $264.1 million, compared with $211 million in the fourth quarter of 2010. Net income climbed 14% to $46.8 million, compared with $41 million in the same quarter of 2010.
Mindray credited its sales and distribution in domestic and emerging markets and an increased direct sales effort in developed markets as two reasons for the company's prosperity. In addition, sales in the U.S. reached "high-teens growth" in 2011.
