Medtronic 3Q profit rises 19 percent
Medical device maker Medtronic says profit rose 19 percent in the third quarter on robust sales of heart devices, including implantable products and stents.
The company says profit rose to $831 million, or 75 cents per share, during the quarter ending Jan. 29. That's up from $698 million, or 62 cents per share, a year ago. Revenue jumped 10 percent to $3.85 billion.
Looking ahead, the company raised the lower end of its full-year guidance, bringing it to between $3.20 and $3.22 per share. The low end was at $3.17 per share previously. Analysts are looking for profits of $3.18 per share.
Shares of Medtronic Inc. dipped a penny to $43.65 in premarket trading.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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