Mindray Medical (NYSE:MR) reported revenue growth of 28.9% from last year but a 0.5% growth from last quarter. Sales in China were strong but Europe, its largest export market, remains a trouble spot.
Margins are under pressure in China due to cut throat competition. That is a problem for the company going forward for its net margins fell from 21.4% to 17.1% year-over-year.
Overall the company is well positioned for the mid-term but upside looks limited for the short run unless Europe puts its house in order.