Mindray Medical Int'l Ltd. (MR), revealed its second-quarter financial results, reporting a profit that improved from the same quarter a year ago, reflecting an improvement in revenues from China and almost all of its product line, as well as an increase in gross margins. Quarterly net income, as well as revenues came in ahead of Street estimates. Following the announcement of the results, Mindray stock gained 4.62% in after hours on the New York Stock Exchange.
Mindray's quarterly net income increased 37.2% to $33.0 million or $0.29 per share from $24.10 million or $0.21 per share in the comparable quarter last year.
On a non-GAAP basis, net income for the second quarter improved 7.5% to $37.80 million or $0.34 per share from $35.20 million or $0.31 per share in the same quarter last year.
On average, six analysts polled by Thomson Reuters expected the company to report quarterly earnings of $0.27 per share. Analysts' estimate typically excludes special items such as one-time charges or gains.
Gross margin for the quarter improved to 57.2% from 52.8% in the same quarter a year ago, with operating income improving 40.2% to $39.0 million from $27.8 million in the same quarter last year.
Quarterly revenues rose 9.9% to $160.10 million from $145.70 million in the same quarter a year ago, above Street estimates of $151.87 million, primarily helped a 31.3% improvement in revenues generated in China, as well as favorable segmental revenues.
On a segmental basis, Patient Monitoring & Life Support Products for the quarter increased 2.1% from the same quarter a year ago, while revenues from In-Vitro Diagnostic Products improved 12.8%. Revenues from medical imaging segment, which contributed 26.1% of total revenues, improved 16.5% in the same quarter a year ago.
For the six-months period, net income increased to $58.36 million or $0.54 per share from $49.11 million, or $0.43 per share in the same quarter a year ago.
Revenues for the period improved 26.2% to $294.23 million from $233.09 million in the same quarter last year.
Looking ahead, the company reiterated its forecast for the full year 2009 and continues to expect non-GAAP earnings per share growth of 10%, with revenue growth expected to improve nearly 10% over last year.
Wall Street analysts currently expects earnings of $1.10 per share on revenues of $617.63 million for the year.
MR closed Monday's trading at $29.87, up 0.16 or 0.54%, on a volume of 1.071 million shares. In the after hours the stock further gained $1.38 or 4.62% to trade at $31.25.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.