PEKING (dpa-AFX) - Mindray Medical International Ltd. (MR) Monday reported first-quarter net income of $36.6 million or $0.31 per share, compared to $37.7 million or $0.32 per share last year.
Adjusted net income for the quarter was $40.4 million or 0.34 per share, compared to $42.2 million or $0.36 per share last year.
Net revenues for the quarter was $219.0 million, up 21.1 percent from $180.9 million last year.
Analysts polled by Thomson Reuters expected earnings of $0.35 per share, compared to $217.19 million for the quarter.
Looking forward to full year 2012, the company expects adjusted net income to grow at least 13 percent and net revenues to grow at least 18 percent over full year 2011.
Mindray has also agreed to acquire a controlling stake of Hangzhou Optcla Medical Instrument Co. Ltd. The financial details of the acquisition were not disclosed.
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