MeMedtronic, Inc. announced financial results for its third quarter of fiscal year 2007, which ended Jan. 26, 2007. The company recorded third quarter revenue of U.S. $3.0 billion, a 10 percent increase over the $2.8 billion reported in the third quarter of the prior fiscal year. Currency translation had a positive impact of $55 million in the quarter. As reported, third quarter fiscal year 2007 net earnings were $710 million, or $0.61 per diluted share, representing an increase of 11 percent over the same quarter last year. However, EPS grew 17 percent after reflecting stock option expense in both periods, applying a non-GAAP measure for 2006 that makes the figures more comparable.
Non-U.S. revenue of $1.1 billion grew 25 percent driven by double-digit revenue growth in all major geographic areas. For the quarter, 36 percent of Medtronic's revenue was from outside the U.S.
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