Mindray Medical International Limited Meets on the Top Line, Misses Where It Counts
Mindray Medical International Limited (NYS: MR) reported earnings on May 7. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Mindray Medical International Limited met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share dropped.
Margins contracted across the board.
Mindray Medical International Limited notched revenue of $219.0 million. The four analysts polled by S&P Capital IQ expected net sales of $217.5 million on the same basis. GAAP reported sales were 21% higher than the prior-year quarter's $180.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.34. The three earnings estimates compiled by S&P Capital IQ anticipated $0.38 per share. GAAP EPS of $0.31 for Q1 were 3.1% lower than the prior-year quarter's $0.32 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 54.9%, 20 basis points worse than the prior-year quarter. Operating margin was 16.8%, 150 basis points worse than the prior-year quarter. Net margin was 16.7%, 410 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $259.5 million. On the bottom line, the average EPS estimate is $0.47.
Next year's average estimate for revenue is $1.05 billion. The average EPS estimate is $1.79.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,373 members out of 1,408 rating the stock outperform, and 35 members rating it underperform. Among 318 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 305 give Mindray Medical International Limited a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Mindray Medical International Limited is outperform, with an average price target of $32.42.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.