Mindray sees 2013 revenue up at least 17 pct.

Mindray says revenue rose 20 percent in 2012 and will grow at least 17 percent in 2013

Associated Press

NEW YORK (AP) -- Chinese medical device maker Mindray Medical International Ltd. said Monday that its revenue grew 20 percent in 2012 and it sees similar results in 2013.

Mindray expects to report about $1.06 billion in revenue for last year, and its net income rose about 16 percent to $207 million. The company said sales in China and key emerging markets were strong, and acquisitions bolstered its growth.

Analysts expected net income of $197.4 million and $1.06 billion in revenue, according to FactSet.

Mindray believes revenue will grow at least 17 percent this year, which implies a total of at least $1.24 billion. Analysts expect $1.24 billion in revenue.

U.S. shares of Mindray rose $1.03, or 3.2 percent, to close at $33.50.

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