BEIJING (dpa-AFX) - 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.
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