Medtronic 3Q 2013 Earnings Up 5.7%, Spine Revenue Down 4% Featured

Written by  Heather Linder | Tuesday, 19 February 2013 16:06
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Medical device company Medtronic's third quarter fiscal year 2013 net earnings increased by 5.7 percent over the same period in 2012 to $988 million, due in part to growth in cardiac and restorative therapies technology.
Net sales also increased from the third quarter of 2012, up 2.8 percent to $4.03 billion. However, overall net earnings dropped slightly over the past nine months from the same period in 2012. Nine-month-end net earnings reached nearly $2.5 billion, down 4.9 percent from 2012's $2.6 billion.

Reported revenue for spine devices also dipped in the third quarter to $753 million, down nearly 4 percent from $784 million in the third quarter 2012.

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