Medtronic 3Q profits rise 6 percent |
|
|
|
Published
:
Tue, 20 Feb 2007 22:48
|
MINNEAPOLIS (AP) - Medical device maker Medtronic Inc. said Tuesday that third-quarter earnings rose 6 percent on strong sales from outside the U.S., even as revenue for some heart devices dropped.The company earned $710 million, or 61 cents per share, in the period ended Jan. 26, compared with $670 million, or 55 cents per share, a year earlier. Revenue of $3.05 billion was up 10 percent from $2.77 billion a year ago.Analysts polled by Thomson Financial expected profit of 58 cents per share on revenue of $3.07 billion.Revenue in Medtronic's largest division, Cardiac Rhythm Disease Management, rose 2 percent to $1.29 billion. Sales of implantable heart defibrillators dropped 2 percent to $711 million, although pacemaker sales rose 8 percent to $458 million.Medtronic said non-U.S. sales in that division grew by more than 10 percent, but it didn't provide the dollar amount. Overall, non-U.S. sales rose 25 percent to $1.09 billion, the company said. Favorable exchange rates alone added $55 million to revenue, the company said.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Medtronic halts Wash. facility shipments 