Mindray Medical International Limited (MR) announced that its fourth quarter 2011 net income attributable to the Company was $46.8 million up from $41.0 million in the fourth quarter of 2010. Earnings per share were $0.40, up from $0.35 in the fourth quarter of 2010.
Non-GAAP net income increased 14.2% to $51.8 million from $45.4 million in the fourth quarter of 2010. Non-GAAP earnings per share were $0.44, compared to $0.38 in the fourth quarter of 2010.
Net revenues were $264.1 million for the fourth quarter of 2011, a 25.2% increase from $211.0 million in the fourth quarter of 2010.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share on revenues of $249.17 million for the quarter. Analysts' estimates typically exclude special items.
Mindray's board has declared a cash dividend on its ordinary shares of $0.40 per share, based on the company's net income for the full year 2011. The cash dividend will be payable on or around April 10, 2012, to shareholders of record as of March 9, 2012.
The company expects its full year 2012 net revenues to grow at least 18% over its full year 2011 net revenues. The company also expects its full year 2012 non-GAAP net income to grow at least 13% over its non-GAAP net income for full year 2011. Analysts expect the company to report earnings of $1.69 per share on revenues of $1.03 billion for foscal 2012.
The company expects its capital expenditure for 2012 to be around $90 million.
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