[DOWNLOAD] "Covidien Reports Net Sales up 10% for Second QTR Fiscal 2011 (Company Overview) (Financial Report)" by Biotech Financial Reports " Book PDF Kindle ePub Free
eBook details
- Title: Covidien Reports Net Sales up 10% for Second QTR Fiscal 2011 (Company Overview) (Financial Report)
- Author : Biotech Financial Reports
- Release Date : January 01, 2011
- Genre: Industries & Professions,Books,Business & Personal Finance,
- Pages : * pages
- Size : 61 KB
Description
Covidien plc (NYSE: COV), Dublin, Ireland, has reported results for the second quarter of fiscal 2011 (January - March 2011). Net sales of $2.80 billion increased 10% from the $2.55 billion reported in the second quarter a year ago. Foreign exchange rate movement added approximately two percentage points to the quarterly sales growth rate. Our double-digit top line gain was again fueled by our largest business segment, Medical Devices, which recorded another excellent quarter paced by energy and vascular products.Second-quarter 2011 gross margin of 57.0% was unchanged from the prior-year period. On an adjusted basis, second-quarter 2011 gross margin of 57.3% was 0.3 percentage points above that of a year ago. This improvement reflected positive business mix and ongoing benefits from the Company's restructuring program, partially offset by unfavorable foreign exchange.
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