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Home Uncategorized Medtronic’s Q3 AIMD Earnings: CRM 3% Down, Neuromodulation 4% Up
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Medtronic’s Q3 AIMD Earnings: CRM 3% Down, Neuromodulation 4% Up

Today Medtronic announced financial results for its third quarter of fiscal year 2012, which ended January 27, 2012. According to the report:

“CRDM third quarter revenue of $1.192 billion decreased 2 percent as reported or 3% on a constant currency basis. Third quarter revenue from ICDs was $674 million,  down 9 percent on a constant currency basis, while pacing revenue was $467 million, an increase of 3 percent on a constant currency basis. Weaker ICD sales, primarily due to declining procedure volumes in the U.S. market versus the prior year, were partially offset by continued growth of the AF Solutions and Pacing businesses.”

“Neuromodulation revenue of $419 million increased 4 percent as reported and on a constant currency basis. Growth continues to be driven by strong sales of InterStim® Therapy. The RestoreSensor™ spinal cord stimulator with its proprietary AdaptiveStim™ technology continues to perform well in Europe, and was approved in the U.S. and Japan in the third quarter. The U.S. launch of this product was delayed for most of the quarter due to a supply disruption resulting from the flooding in Thailand, which has subsequently been resolved.”

 
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