Business & Tech
Medtronic's 2nd Quarter: Earnings Drop
But the Fridley-based medtech company said revenue was up.
Fridley-based Medtronic announced earnings Tuesday for its second quarter ending Oct. 26, 2012.
Profits were down 26 percent, with expenses including legal costs hurting the earnings figure.
In the company's statement, Medtronic chairman and chief executive officer Omar Ishrak said:
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Our second quarter performance reflects the results of our ongoing focus to deliver consistent and dependable growth in a changing healthcare environment. Our growth was broad-based across several businesses and geographies, driven by continued stabilization of our end markets and the ongoing successful execution of new product launches.
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