Mindray Medical International Limited (NYSE:MR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.31%.
Mindray Medical International Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 27.27% to $0.56 in the quarter versus EPS of $0.44 in the year-earlier quarter.
Revenue: Rose 14.7% to $307.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mindray Medical International Limited reported adjusted EPS income of $0.56 per share. By that measure, the company beat the mean analyst estimate of $0.47. It missed the average revenue estimate of $312.06 million.
Quoting Management: “In the second quarter, our strong China sales continued to drive our top-line performance and we are pleased that our sales in the emerging markets improved sequentially. Western Europe revenues remained solid despite the region’s economic weakness. Sales in North America were weak this quarter, primarily as a result of tough comparison over last year,” said Mr. Li Xiting, Mindray’s President and Co-Chief Executive Officer. “We further enhanced our efficiency with better management of our cash conversion cycle. We are also very excited about our recent acquisition of ZONARE, which greatly strengthened our ultrasound R&D capabilities and expanded our high-end product portfolio.”
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