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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Medtronic Earnings Decline 0 comments
    Feb 19, 2014 11:01 AM | about stocks: MDT

    Originally published at www.seclive.com

    Medtronic, Inc. (NYSE:MDT) announced its third fiscal quarter financial results, reporting revenue that increased but profit that declined. The Minnesota-based company, which develops and sells various medical products, saw overall revenue grow 3% from $4.027B to $4.163B. International sales, which accounts for nearly half of the company's revenue, improved 4% to $1.898B. Quarterly earnings were down 23% to $762M and $0.75 per share, impacted by charges related to research and development tax. Cardio Vascular Group sales improved 2% to $2.119B while Restorative Therapies Group sales increased 5% to $1.608B. Chairman and CEO Omar Ishrak stated that the company delivered strong performance and balanced growth, and expects the company to stay focused on operational excellence.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: MDT
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