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Medtronic Inc Issues FY 2013 Revenue Guidance Above Analysts' Estimates; Reaffirms FY 2013 EPS Guidance-Conference Call

Tuesday, 19 Feb 2013 01:00pm EST 

Medtronic Inc announced that it expects constant currency revenue growth of 3% to 4% remains reasonable for fiscal 2013. Although, it cannot predict the impact of currency movements, to give you a sense of the FX impact if exchange rates were to remain similar to yesterday for the remainder of the fiscal year then fiscal 2013 revenue would be unfavorably affected by approximately $300 million to $320 million, including an unfavorable $20 million to $40 million impact in fourth quarter. With respect to earnings per share guidance, it continue to expect 2013 non-GAAP diluted earnings per share in the range of $3.66 to $3.70, which implies annual earnings per share growth of 6% to 7%. Based on performance through three quarters, it would expect to be at the upper end of ranges on both revenue and earnings per share. The Company reported revenues of $16.184 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $16.539 billion and EPS of $3.68 for fiscal 2013. 

Company Quote

-0.59 -0.94%
4:06pm EDT