Mindray Medical Q4 Profit Up - Quick Facts

(RTTNews) - Mindray Medical International Limited (MR) Monday reported fourth-quarter profit of $75.2 million or $0.63 per share, up from $55.8 million or $0.47 per share in the same period last year. Adjusted earnings for the quarter were $73.9 million or $0.62 per share. Revenues increased 16.5 percent to $368.4 million from $316.1 million last year. Analysts expected revenues of $351.26 million.

Additionally, the Board of Directors of the company have approved to increase the size of its previously authorized share repurchase program from $200 million to $300 million.

The company intends to use cash, internally generated funds or bank borrowings to finance repurchases. The program is also extended to remain effective till March 31, 2015.