
Covidien (NYSE:COV) CFO Charles Dockendorff gave investors a look at what the medical device company expects to see for its fiscal 2014 results.
Speaking at Mansfield, Mass.-based Covidien’s annual investor meeting, Dockendorff said net sales for FY2014 are expected to grow between 2% and 5% over fiscal 2013.
Sales for Covidien’s bread-and-butter medical device segment are pegged to grow by 2% to 5%, with flat revenues forecast for its smaller medical supplies division, according to a press release.
Covidien spun out its Mallinckrodt plc (NYSE: MNK) pharmaceutical division in July.
Last month the company posted fiscal 3rd-quarter profits of $396.0 million, or 84¢ per share, on sales of $2.58 billion for the 3 months ended June 28. That represents a profit decline of 12.6% on top-line growth of 2.9%. Adjusted to exclude 1-time items, earnings per share were 91¢, 3¢ ahead of expectations on Wall Street.
Its medical device segment posted sales of $2.14 billion, up 3.7% compared with Q3 2012. Sales for its medical supplies business were off by 0.9%, at $439.0 million.