Mindray Medical Profit Falls On Tax Expense, Revenue Misses Estimates

(RTTNews) - Mindray Medical International Ltd. (MR) Monday reported third-quarter net income of $30 million or $0.25 per share compared with $36 million or $0.30 per share last year.

On average, six analysts polled by Thomson Reuters estimated earnings of $0.44 per share for the quarter.

Excluding items, adjusted earnings for the quarter were $57 million or $0.47 per share compared with $50 million or $0.42 per share a year ago.

The medical device maker said revenues for the quarter rose 15% to $296 million from $257 million in the prior year. Analysts estimated revenues of $319.41 million.

Results for the quarter were impacted by income tax expense that climbed to $28 million from $9 million in the prior year.