Sunday, November 19, 2017
News: Page (1) of 1 - 08/23/11 Email this story to a friend. email article Print this page (Article printing at page facebook
Medtronic fiscal 1Q profit slips 1 percent
Medtronic's fiscal 1st-quarter net income slides 1 percent despite revenue gains
By The Associated Press

MINNEAPOLIS (AP) ' Medtronic, the world's largest medical device maker, says its fiscal first-quarter earnings slipped 1 percent as challenges in spinal products and its biggest business, implantable cardioverter defibrillators, countered other revenue gains.

The Minneapolis-based company says net income fell to $821 million, or 77 cents per share, from $830 million, or 76 cents per share.

Adjusted earnings were $845 million, or 79 cents per share, for the quarter ended July 29.

Revenue climbed 7 percent to $4.05 billion, with most of the increase attributable to favorable foreign currency rates.

Analysts forecast earnings of 79 cents per share on revenue of $3.98 billion.

Medtronic has struggled to maintain earnings growth amid sluggish sales of its two leading products: heart defibrillators and spinal implants.

Page: 1


Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines