Covidien Ltd.
Covidien Reports Third-Quarter Results
Published in Surgery Litigation and Law Weekly, August 24th, 2007
Covidien Ltd. (NYSE: COV; BSX: COV) reported results for the third quarter of fiscal 2007 (April - June 2007), its first quarterly report following the separation from Tyco International on June 29, 2007. Third-quarter net sales increased 5% from a year ago to $2.6 billion, led by the Medical Devices and Pharmaceutical Products business segments. Sales growth was driven by higher volume and new products. Favorable foreign exchange contributed 2 percentage points to the sales increase. Strong double-digit sales growth was posted internationally, led by Europe and Other Americas, primarily Latin America.
Gross margin of 48% in the quarter was up more than a full...
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