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Home » FLASH: Covidien’s Q3 profits jump 47%

FLASH: Covidien’s Q3 profits jump 47%

July 26, 2011 By MassDevice staff

Covidien

Shares of Covidien plc (NYSE:COV) are up nearly 4 percent this morning after the company announced a third-quarter profit bump of 47.0 percent and a top-line boost of 14.1 percent.

The Mansfield, Mass.-based medical products maker reported profits of $535 million, or $1.07 per diluted share, on sales of $2.93 billion for the three months ended June 24.

That’s compared with net income of $364 million, or 72 cents diluted EPS, on sales of $$2.56 billion during the same period last year.

Covidien said the strong results were driven by its workhorse medical device division, where the top line surged 22 percent, according to a press release.

Stay tuned to MassDevice.com for an in-depth look at Covidien’s Q3 results

Filed Under: MassDevice Earnings Roundup, Wall Street Beat Tagged With: Covidien, Q2

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