Medtronic highlights positives in third quarter report

Medtronic has published its financial results for the third quarter of its 2012 fiscal year, highlighting a number of positive trends.

The medical device manufacturer's sales for the three months ending on January 27th 2012 came to $3.86 billion (2.43 billion pounds), up by two percent year over year on a constant currency basis, thanks mainly to growing international sales.

Most of the company's business divisions were able to achieve consistent revenue growth in the upper single digits, which helped to counterbalance the challenges experienced by its implantable cardioverter defibrillator and spine divisions in the US.

Omar Ishrak, Medtronic's chairman and chief executive officer, said: "Stabilising these businesses along with delivering on our key strategic imperatives of improving execution, optimising innovation and accelerating globalisation should position us well to deliver long-term sustainable growth."

Earlier this month, the company published data from a new clinical trial of its Complete SE vascular stent, showing its efficacy in treating atherosclerosis in the superficial femoral artery.