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Home Industry News Medtronic revenues up in last quarter

Medtronic revenues up in last quarter

25th February 2010

Medtronic has reported increased revenues in the fiscal quarter ending January 29th 2010.

The medical technology company’s latest financial breakdown shows that its revenues for the three-month period came to $3.9 billion (2.5 billion pounds), an increase of ten per cent compared to the corresponding period a year earlier.

This increase was driven by improved performance in a number of its key business areas, with its cardiovascular product sales experiencing the biggest gains thanks to a revenue increase of 28 per cent.

Bill Hawkins, Medtronic’s chairman and chief executive officer, stated that the company’s increasingly diverse global product portfolio has played an important role in its strong results.

He added: “Our third quarter results reflect a building track record of delivering consistent execution on our financial commitments.”

Earlier this month, the company’s Physio-Control subsidiary was granted clearance by the Food and Drug Administration to resume unrestricted sales of its LifePak defibrillators after making improvements to its quality system.

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