Mindray Medical International Limited (NYSE:MR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Mindray Medical International Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 27.5% to $0.51 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Rose 19.68% to $316.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mindray Medical International Limited reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.44. It beat the average revenue estimate of $309.3 million.
Quoting Management: “2012 marks another remarkable year for Mindray, as our revenue surpassed $1 billion for the first time in the company’s history. We also achieved strong revenue and net income growth, beating our financial guidance,” said Mr. Li Xiting, Mindray’s President and Chief Executive Officer. “In addition, our continuous focus on strengthening operating efficiency resulted in significant improvement on our gross margin, working capital and operating cash flow. China and emerging markets were again the main propellers for our company’s growth in 2012, reflecting the success of our strategy to strengthen sales, distribution and services in these markets over the last few years. For our in-vitro diagnostic segment, we have successfully ramped up sales in our higher-margin reagents and are optimistic about the future growth prospects of this business.”
Key Stats (on next page)…