01.22.15
Dublin, Ireland-based Covidien plc, which is soon to be bought by Medtronic, has released its financial results for the first quarter of fiscal year 2015. First-quarter net sales of $2.69 billion increased 2 percent from the $2.64 billion in the first quarter a year ago. Operational sales growth in the quarter was 6 percent, as foreign exchange rate movement lowered the quarterly sales growth rate by four percentage points.
Sales for the company’s medical devices segment of $2.28 billion in the first quarter of fiscal 2015 were 1 percent higher than the $2.25 billion in the comparable quarter of last year. Operational sales growth for the medical devices segment was 6 percent, as foreign exchange rate movement reduced the quarterly sales growth rate by five percentage points. The company’s medical supplies segment also posted strong results, achieving 5 percent sales growth.
“We continued to perform strongly during the quarter, driven by considerable growth in Surgical Solutions, our largest product category, as well as important new offerings and a sustained focus on productivity improvement,” said José E. Almeida, chairman, president and CEO of Covidien. “We expect to maintain this solid performance as we continue to invest in and execute our global strategy.”
Recent company highlights include:
Sales for the company’s medical devices segment of $2.28 billion in the first quarter of fiscal 2015 were 1 percent higher than the $2.25 billion in the comparable quarter of last year. Operational sales growth for the medical devices segment was 6 percent, as foreign exchange rate movement reduced the quarterly sales growth rate by five percentage points. The company’s medical supplies segment also posted strong results, achieving 5 percent sales growth.
“We continued to perform strongly during the quarter, driven by considerable growth in Surgical Solutions, our largest product category, as well as important new offerings and a sustained focus on productivity improvement,” said José E. Almeida, chairman, president and CEO of Covidien. “We expect to maintain this solid performance as we continue to invest in and execute our global strategy.”
Recent company highlights include:
- Receiving CE Mark approval for its Stellarex drug-coated angioplasty balloon for the treatment of peripheral arterial disease, and for its Nellcor bedside SpO2 patient monitoring system, PM100N pulse oximetry monitor designed for home care;
- Gaining U.S. Food and Drug Administration 510(k) clearance for its Fortrex over-the-wire balloon catheter, a high pressure solution to maintain arteriovenous access;
- Announcing 12-month DEFINITIVE AR study results regarding the effectiveness of plaque removal using directional atherectomy followed by drug coated balloon; and
- Having the company’s Solitaire stent thrombectomy device featured in the MR CLEAN study, which showed that stent thrombectomy provided a significant clinical benefit when compared to pharmaceutical treatment alone for patients suffering an acute ischemic stroke.