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More on Medtronic FQ4: Legal agreements hit net profit

  • Medtronic (MDT) net profit -54% to $448M, hurt by the patent agreement with Edwards Lifesciences and a product-liability settlement.
  • Sales breakdown: international +3% to $2.145B (47% of total), Emerging market +10% to $571M (13% of total).
  • Cardiac & Vascular worldwide sales +1% to of $2.37B; Restorative Therapies +2% to $1.74B; Diabetes +13% to $460M.
  • Expects FY 2015 EPS to grow 6-9% to $4.00-4.10 vs consensus of $4.09 and revenue growth of 3-5% at constant currencies. FY 2014 revenues were $17B. Analyst expectations for 2015 revenue are $17.64B.
  • Shares are -0.15% premarket. (PR)
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