The company reported preliminary results for the fourth quarter in May. Now, the company officially released full year reports for the 2015 fiscal year.
Here are eight things to know from the full year:
1. Revenue increased 19 percent to $20.2 billion.
2. GAAP earnings were $1.7 billion, up 16 percent.
3. Diluted earnings per share were $4.28, up 6 percent.
4. Net earnings were $2.6 billion, down 13 percent from 2014.
5. There was a modest decline in spine revenue, down 2 percent to $743 million.
6. The core spine business focused on differentiating itself from competition, enhanced by the Surgical Synergy program integrating imaging, navigation and powered surgical instruments.
7. The Core Spine and Interventional revenue declined slightly.
8. The bone morphogenetic protein line grew slightly.
“I am encouraged by our strong fourth quarter performance, the first quarter that reflects the combined results of Medtronic and Covidien,” said CEO Omar Ishrak. “In addition to making solid progress on our integration of Covidien, these results reflect disciplined execution across our three core strategies of therapy, innovation, globalization and economic value.”
More articles on orthopedic devices:
Materialise partners with Consensus Orthopedics—4 things to know
MIS SI joint fusions: 5 key notes
NuVasive, VertiFlex, K2M & more—12 key notes
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
