Medtronic publishes results for second quarter

Medtronic has reported worldwide revenue of $3.903 billion (2.5 billion pounds) for the second quarter of fiscal year 2011.

Up two percent on the corresponding figure for the previous year, the company's performance benefitted from "relative market stability" between June and October, according to Medtronic chairman and chief executive Bill Hawkins.

The company also revealed that its emerging market earnings grew by 19 percent on a constant currency basis, with international sales accounting for 41 percent of the firm's worldwide revenue.

"While macroeconomic challenges remain, we continue to advance our pipeline [and] drive growth in emerging markets," Mr Hawkins commented.

Medtronic has adjusted its diluted earnings per share guidance and now expects revenue growth of two to four percent on a constant currency basis for the second half of the fiscal year.

Earlier this month, the company announced a deal to acquire Ardian, a developer of catheter-based therapies for hypertension and related conditions.