Medtronic Reports Higher Sales, Net for Q3
Medtronic improved its top and bottom lines in its just-released results for its fiscal Q3 2013. For the quarter, the company posted just over $4 billion in revenue, or a 3% year-over-year improvement from the same period the previous year. Net profit was $988 million ($0.97 per diluted share), which was 6% higher than Q3 2012's $935 million ($0.88).
International sales comprised 46% of the company's total for the quarter, coming in at $1.9 billion. That was a 5% advance over the year-ago Q3.
Looking forward, the company reiterated its previous revenue and EPS guidance. It believes revenue will grow 3%-4% on a year-over-year basis in fiscal 2013, and earnings will amount to $3.66 to $3.70 per share.
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