Mindray Medical 3Q Profit Jumps On Gains
Stock quotes in this article:
MR
NEW YORK (AP) Mindray Medical International Ltd., a Chinese medical device company, reported a 55 percent profit increase in its third quarter, helped by a gain from the early termination of a contract.
The company earned $43.4 million, or 38 cents per share, in the three months ended Sept. 30, up from $28 million, or 24 cents per share, a year ago. Revenue rose 3 percent to $151.1 million from $146.5 million. Excluding one-time items, the company said it earned 33 cents per share. Analysts polled by Thomson Reuters expected profit of 27 cents per share on higher revenue of $155 million. The company reported $11.8 million in other income in the latest quarter from an early contract termination. Shares of Mindray fell $2.09, or 6.1 percent, to $32 in midday trading. The stock has traded between $12.31 and $34.49 over the last 52 weeks.- Loading Comments...
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