Mindray Medical International
The 10-second takeaway
For the quarter ended March 31 (Q1), Mindray Medical International missed estimates on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased significantly.
Gross margins expanded, operating margins dropped, net margins grew.
Mindray Medical International tallied revenue of $242.1 million. The four analysts polled by S&P Capital IQ predicted a top line of $256.2 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $219.0 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 $0.53. The four earnings estimates compiled by S&P Capital IQ predicted $0.40 per share. Non-GAAP EPS of $0.53 for Q1 were 56% higher than the prior-year quarter's $0.34 per share. GAAP EPS of $0.48 for Q1 were 55% higher than the prior-year quarter's $0.31 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 57.4%, 250 basis points better than the prior-year quarter. Operating margin was 16.1%, 70 basis points worse than the prior-year quarter. Net margin was 23.7%, 700 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $313.2 million. On the bottom line, the average EPS estimate is $0.53.
Next year's average estimate for revenue is $1.25 billion. The average EPS estimate is $2.03.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,344 members out of 1,378 rating the stock outperform, and 34 members rating it underperform. Among 258 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 246 give Mindray Medical International a green thumbs-up, and 12 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Mindray Medical International is outperform, with an average price target of $39.53.
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