Medtronic reported total revenues for the second quarter of the 2011 fiscal year at $3.903 billion, a 2 percent increase from the second quarter of 2010, according to a company news release.
The international revenue was reported as $1.608 billion, a 4 percent increase over the second quarter of last year, and accounted for 41 percent of Medtronic's worldwide revenue. Despite the economically challenging times, Medtronic CEO Bill Hawkins says the company plans to reduce their cost structure by focusing on leveraging their size and scale.
Medtronic's restorative therapies group, comprised of spinal, neuromodulation, diabetes and surgical technologies, reported worldwide sales at $1.808 billion, a 2 percent increase from the second quarter of 2010. Spinal revenue was reported as $850 million, a decrease of 1 percent from the second quarter of last year. The revenue from biologic products decreased by 2 percent. A slow market growth and pricing pressures contributed to these results.
Surgical technologies reported revenue at $244 million, a 9 percent increase over the second quarter of 2010.
Read the release about Medtronic 2Q FY 2011 financial report.
Read other coverage on Medtronic:
- Medtronic Receives FDA 510(k) Clearance for Spinal Cord Stimulator Trialing Cable
- Medtronic Partners With Ziehm Imaging in 3D Intraoperative Technology
- Medtronic Receives FDA 510(k) Clearance for Kyphon Xpander II
The international revenue was reported as $1.608 billion, a 4 percent increase over the second quarter of last year, and accounted for 41 percent of Medtronic's worldwide revenue. Despite the economically challenging times, Medtronic CEO Bill Hawkins says the company plans to reduce their cost structure by focusing on leveraging their size and scale.
Medtronic's restorative therapies group, comprised of spinal, neuromodulation, diabetes and surgical technologies, reported worldwide sales at $1.808 billion, a 2 percent increase from the second quarter of 2010. Spinal revenue was reported as $850 million, a decrease of 1 percent from the second quarter of last year. The revenue from biologic products decreased by 2 percent. A slow market growth and pricing pressures contributed to these results.
Surgical technologies reported revenue at $244 million, a 9 percent increase over the second quarter of 2010.
Read the release about Medtronic 2Q FY 2011 financial report.
Read other coverage on Medtronic:
- Medtronic Receives FDA 510(k) Clearance for Spinal Cord Stimulator Trialing Cable
- Medtronic Partners With Ziehm Imaging in 3D Intraoperative Technology
- Medtronic Receives FDA 510(k) Clearance for Kyphon Xpander II