Medtronic's Q4 sales rise, earnings soar

May 25, 2010 by MassDevice staff

Medtronic Inc. closed out fiscal 2010 on a high note, posting record Q4 sales of $4.2 billion and net earnings of $954 million; full-year profits near $3.1 billion on sales of $15.8 billion.

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Medtronic Inc. (NYSE: MDT) closed out fiscal 2010 in fine shape, posting record fourth-quarter revenues and a profit surge of more than 826 percent.

The Fridley, Minn.-based medical device monolith posted net earnings of $954 million, or 86 cents per diluted share, on sales of $4.20 billion during the three months ended April 30. It's the first time sales topped the $4 billion mark for Medtronic. TheQ4 2010 results compare to earnings of $103 million, or 9 cents per diluted share, on sales of $3.83 billion during the same period last year.

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