Demand for medical devices has fallen in the downturn and people who have lost jobs, or that higher co-payments and deductibles in your health plans are facing off medical care.
In August, Medtronic reported a decline in the first quarter sales, the market of surprise caught and sent its shares and the rival hearts and orthopedic device makers reeling.
On Tuesday, a second quarter profit something before the analyst targets, tax lower than expected, on revenue growth of just under 2 percent helped by Medtronic written.
Chief Executive, William A. Hawkins, said demand for medical devices had begun to stabilize for a slowdown in the beginning of the summer.
Still, the company trimmed its financial Outlook for a second time and projected earnings per share of $3,38 to $3.44, down from $3.40 to $3.48 in August.
Net profit in the second quarter of Medtronic's that Oct. 29 ended, fell to $ 566 million or 52 cents per share, compared to $868 million or 78 cents per share, a year zuvor.Ohne consideration of special items said Medtronic 82 cents per share deserves hatte.Analysten on average had expected 81 cents, according to Thomson Reuters.
"You kind of expectations, but see a harder, second half of the year" a noble financial capital analyst, Jan forest, said."My read is that you did not expect the growth you thought you'd see in the second half of the year to see."
Sales rose to $3.90 billion, in line with the expectations of analysts, compared with $3.84 billion a year earlier.
Revenue from implantable defibrillators Cardioverter-fell by 1 percent, to $ 745 million and fell by 5 per cent of pacemakers, to 472 million US dollars, slower growth of the market and price pressure in the United States and abroad injured.
"Japan remains a major headwind reflect double-digit price reductions from April," said an analyst at JPMorgan, Michael Weinstein, in a research note.
Revenue from spinal products fell by 1 percent in the quarter to $ 850 million.
Medtronic said sales growth of 2 to 4 percent for the second half of the fiscal year 2011 erwartet.Es predicted would grow to 3 percent of overall market 2.
The company said in its Outlook potential revenue new products in the pipeline where omitted, warning letters of food and Drug Administration were delayed.
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