Medtronic quarterly profit slips as legal, other expenses weigh

CHICAGO Tue Nov 20, 2012 7:39am EST

CHICAGO Nov 20 (Reuters) - Medtronic Inc reported lower quarterly earnings on Tuesday as legal and other expenses ate into profits.

Net earnings were $646 million, or 63 cents per share, in its fiscal second quarter ended Oct. 26, down from $871 million, or 82 cents per share, in the year-ago period.

Excluding one-time items, earnings were 88 cents per share, matching analysts' average forecast.

Revenue increased 2 percent to $4.095 billion.

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