Source Pravda.Ru

Medtronic Inc faces high fiscal 4Q profit

World's largest medical technology company Medtronic Inc. (NYSE: MDT) has gained higher-than-expected fiscal fourth-quarter profit thanks to high sales of “recalled” defibrillator and the heart stent Endeavor.

The company announced that its net income reached $812 million, the same as a year earlier, or 72 cents a share. Adjusted profit of 78 cents a share was provided by a nickel.

Endeavor stent sales went up 56 percent, defibrillators and other heart rhythm devices climbed 5.4 percent.

The company also received benefit from sales of artificial spinal discs, Medtronic's second-biggest product, which jumped 35 percent to $869 million.

A U.S. publicly traded company faced in addition the highest increase of its shares in six months.

The shares increased $1.58, or 3.3 percent, to $49.46 at 11:40 a.m. in New York Stock Exchange composite trading.