Medical equipment maker Medtronic, Inc. (MDT: Quote) posted third-quarter net earnings of $988 million, or $0.97 per share, a 6 percent and 10 percent growth, respectively, over last year.
Net earnings, on a non-GAAP basis, amounted to $946 million, or $0.93 per share this quarter. On average, 20 analysts polled by Thomson Reuters expected earnings per share of $0.91 for the quarter. Analysts' estimates typically exclude one-time items.
Worldwide quarterly revenue was $4.03 billion, up 4 percent on a constant currency basis after adjusting for a $41 million foreign currency impact, or a 3 percent increase as reported, the company added. Analysts estimated revenues of $4.03 billion for the quarter.
Additionally, the company reiterated its fiscal 2013 outlook, still expecting revenue growth in the range of 3 to 4 percent on a constant currency basis, as well as earnings per share of $3.66 - $3.70 range, implying annual earnings per share growth of 6 to 7 percent. Analysts project annual earnings of $3.68 per share.
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by RTT Staff Writer
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