Medtronic reports positive financial data for Q4 2013

Medtronic has announced encouraging financial results for the fourth quarter of its 2013 business year, which concluded on April 26th 2013.

During the three-month period, the company's worldwide revenue total came to $4.46 billion (2.95 billion pounds), which represents a five percent year-over-year increase, thanks to strong performances both for its cardiac and vascular group and its restorative therapies division.

For the entire year-long period, the firm's revenue figure was $16.59 billion, again up by five percent annually, meaning Medtronic was able to outperform the market in the last 12 months.

The company expects full-year revenue growth in the range of three to four percent on a constant currency basis in 2014.

Omar Ishrak, Medtronic's chairman and chief executive officer, said: "These fourth quarter results were a strong finish to a solid fiscal year and, more importantly, represented another step toward our goal of delivering consistent and dependable growth."

Medtronic is the world's largest medical technology firm, employing around 45,000 members of staff worldwide.