Covidien plc (COV) reported that its first-quarter net income was $412 million or $0.82 per share, compared to $386 million or $0.76 per share in the same quarter last year. GAAP earnings per share from continuing operations were $0.82 in the first quarter, compared to $0.75 per share in the comparable quarter last year. First-quarter adjusted earnings per share, excluding the specified items, were $0.86, up 32% from $0.65 a year ago.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter were $2.75 billion up 7% from the $2.56 billion reported a year ago. Sixteen analysts had consensus revenue estimate of $2.64 billion for the quarter.
The Company continues to estimate that sales in fiscal 2010 will be up 6% to 9%, including foreign exchange at current rates and excluding Oxy ER sales from the 2009 base. Analysts expect the company to report revenues of $11.06 billion for fiscal 2010.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.