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news.Medtronic, a medical technology company, has reported net earnings of $723 million, or $0.65 per diluted share in the third quarter of fiscal year 2009, an increase of 839% and 829%, compared to $77 million or $0.07 in the corresponding period of fiscal year 2008.
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The company has reported revenue of $3.5 billion in the third quarter of fiscal year 2009, a 3% increase, compared to $3.4 billion in same period of fiscal year 2008 or a 6% increase after adjusting for an unfavorable $110 million foreign exchange impact.
For the nine months ended fiscal year 2009, the company reported revenue of $10.8 billion compared to $9.65 billion in the same period of fiscal 2008. For the nine months ended fiscal year 2009, the company reported net earnings of $2.04 billion, or $1.81 per diluted share, compared to $1.42 billion, or $1.24 in the corresponding period of fiscal year 2008.
Bill Hawkins, Medtronic’s chairman and CEO, said: “Despite global macroeconomic uncertainties and an unfavorable impact from foreign currency on our business units this quarter, Medtronic continues to deliver growth in a challenging environment.
“Excluding the impact of foreign currency, four of our seven business units reported double digit revenue growth in the quarter and we continue to focus on delivering meaningful operating leverage.”