Medtronic reported net income of $776 million for the fourth quarter, which is a 19 percent decrease over last year, according to a company news release.
The company's two core product lines, heart defibrillators and spine products, performed under expectations. However, the company reported a 2 percent increase in revenue for the fourth quarter to $4.3 billion.
The company's full year revenue represented a 1 percent increase over fiscal year 2010. The company's spinal, neuromodulation, diabetes and surgical technologies group reported worldwide sales of $7.4 billion for the year, a 2 percent increase over last year.
During the fourth quarter, the spinal revenue increased 1 percent to $875 million, and international sales were up 12 percent. The company attributes this success to sales of the Solera posterior fixation system and Atlantis Vision Elite cervical plate.
Read the release on Medtronic's financial report.
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The company's two core product lines, heart defibrillators and spine products, performed under expectations. However, the company reported a 2 percent increase in revenue for the fourth quarter to $4.3 billion.
The company's full year revenue represented a 1 percent increase over fiscal year 2010. The company's spinal, neuromodulation, diabetes and surgical technologies group reported worldwide sales of $7.4 billion for the year, a 2 percent increase over last year.
During the fourth quarter, the spinal revenue increased 1 percent to $875 million, and international sales were up 12 percent. The company attributes this success to sales of the Solera posterior fixation system and Atlantis Vision Elite cervical plate.
Read the release on Medtronic's financial report.
Related Articles on Medtronic:
Medtronic Releases Atlantis Vision Elite Anterior Cerivcal Plate System
Medtronic to Cut Up to 2,000 Jobs After Reporting 3Q Financial Growth
Medtronic Launches Vertex Select Chromaloy Plus Rods