SHENZHEN, China, Nov. 13, 2015 /PRNewswire/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide, announced today its selected unaudited financial results for the third quarter ended September 30, 2015.
Highlights for Third Quarter 2015
- Net revenues reached $327.6 million, up 0.9% from $324.6 million a year ago.
- China net revenues were $152.6 million, representing 46.6% of the company’s total net revenues.
- International net revenues totaled $175.0 million, up 3.6% from the same period a year ago.
- Reagent net revenues grew more than 18% year-over-year. Reagents contributed 51.0% to the IVD segment, up from 44.2% in the same period last year.
- In this quarter, the company generated around $16.0 million foreign exchange gain from RMB’s depreciation against US dollars.
SUMMARY -- Third quarter 2015
(in $ millions, except per-share data) | Three Months Ended | ||
September 30 | |||
2015 | 2014 | % chg | |
Net Revenues | 327.6 | 324.6 | 0.9% |
Net Revenues Generated in China | 152.6 | 155.7 | -2.0% |
Net Revenues Generated in International Markets | 175.0 | 168.9 | 3.6% |
Gross Profit | 178.8 | 182.8 | -2.2% |
Non-GAAP Gross Profit | 180.7 | 185.1 | -2.4% |
Operating Income | 58.7 | 43.4 | 35.3% |
Non-GAAP Operating Income | 69.3 | 54.4 | 27.3% |
EBITDA | 74.1 | 57.5 | 28.9% |
Net Income1 | 50.9 | 46.0 | 10.5% |
Non-GAAP Net Income1 | 60.4 | 56.2 | 7.5% |
Non-GAAP Net Income2 (ex FX gain from RMB’s | 46.1 | 56.2 | -17.9% |
Non-GAAP Net Income (ex tax benefit)3 | 60.4 | 54.7 | 10.4% |
Diluted EPS | 0.43 | 0.39 | 10.1% |
Non-GAAP Diluted EPS | 0.51 | 0.47 | 7.1% |
Non-GAAP Diluted EPS (ex FX gain from RMB’s | 0.39 | 0.47 | -18.2% |
Non-GAAP Diluted EPS (ex tax benefit) | 0.51 | 0.46 | 10.0% |
1 For this press release, net income and non-GAAP net income refers to GAAP net income attributable to Mindray shareholders and non-GAAP net income attributable to Mindray shareholders as stated in exhibit below, respectively. | |||
2 The non-GAAP net income (ex FX gain from RMB’s depreciation against US dollars)excludes foreign exchange gain, net of related tax impact, of $14.3 million recognized in the third quarter of 2015 in relation to RMB’s depreciation against US dollars. | |||
3 The non-GAAP net income (ex tax benefit)excludes the tax benefits of $1.3 million recognized in the third quarter of 2014 in relation to the nationwide key software enterprise status and the non-GAAP tax benefits of $0.1 million recognized in the third quarter of 2014 in relation to dispute related legal fees. To read full press release, please click here. Help employers find you! Check out all the jobs and post your resume. | |||
