Medtronic’s Earnings

Unlike most of the market, Medtronic (MDT) is having a good day today. The stock is up on decent earnings.

For the quarter ended Jan. 23, Medtronic reported net income of $723 million, or 65 cents a share, up from $77 million, or 7 cents, a year earlier. Excluding acquisition-related charges, earnings rose to 71 cents a share from 63 cents.
Net sales rose 2.6% to $3.49 billion, or 6% excluding foreign-currency changes.
Analysts surveyed by Thomson Reuters were expecting earnings, excluding items, of 70 cents on revenue of $3.51 billion.

This is good to see. Last quarter’s performance was not comforting. Here’s a look at MDT’s sales and earnings for the past few quarters:
Quarter………..EPS………….Sales
Jul-01…………$0.28………..$1,455.70
Oct-01………..$0.29………..$1,571.00
Jan-02………..$0.30………..$1,592.00
Apr-02………..$0.34………..$1,792.00
Jul-02…………$0.32………..$1,713.90
Oct-02………..$0.34………..$1,891.00
Jan-03………..$0.35………..$1,912.50
Apr-03………..$0.40………..$2,148.00
Jul-03…………$0.37………..$2,064.20
Oct-03………..$0.39………..$2,163.80
Jan-04………..$0.40………..$2,193.80
Apr-04………..$0.48………..$2,665.40
Jul-04…………$0.43………..$2,346.10
Oct-04………..$0.44………..$2,399.80
Jan-05………..$0.46………..$2,530.70
Apr-05………..$0.53………..$2,778.00
Jul-05…………$0.50………..$2,690.40
Oct-05………..$0.54………..$2,765.40
Jan-06………..$0.55………..$2,769.50
Apr-06………..$0.62………..$3,066.70
Jul-06…………$0.55………..$2,897.00
Oct-06………..$0.59………..$3,075.00
Jan-07………..$0.61………..$3,048.00
Apr-07………..$0.66………..$3,280.00
Jul-07…………$0.62………..$3.127.00
Oct-07………..$0.58………..$3,124.00
Jan-08………..$0.63………..$3,405.00
Apr-08………..$0.78………..$3,860.00
Jul-08…………$0.72………..$3,706.00
Oct-08………..$0.67………..$3,570.00
Jan-09………..$0.71………..$3,494.00

Posted by Eddy Elfenbein on February 17th, 2009 at 12:57 pm

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